Horseshoe Metals (ASX:HOR) posts latest results from namesake project – The Market Herald

0
211



Market Herald logo

Subscribe

Be the first with the news that moves the market

  • Horseshoe Metals (ASX:HOR) has received the latest assays from initial drilling at its namesake copper-gold project in Western Australia
  • The reverse-circulation drilling program at the Motters Zone is being undertaken to confirm and extend known resources
  • Latest results include 45 metres at 1.22 per cent copper from two metres, 22 metres at 1.8 per cent from 12 metres, and 16 metres at 1.1 per cent copper from surface
  • HOR says phase two of the program will focus on potential continuous copper mineralisation beneath a post-mineralisation proterozoic dolerite unit
  • Shares last traded in January 2020 at 1.2 cents

Horseshoe Metals (HOR) has received the latest assays from the first phase of drilling at its namesake copper-gold project in Western Australia.

The Horseshoe Lights project is located in the Bryah Basin of the Murchison region with a historic mine operating at the site up until 1994 and producing over 300,000 ounces of gold and 54,000 tonnes of contained copper.

HOR’s drilling program is being undertaken to confirm and extend known resources.

Additionally the company designed the program to improve the confidence in the classification of the resource, and to more tightly constrain the oxide-sulphide transition.

The reverse circulation drilling program at the Motters Zone included 15 holes reaching a maximum depth of 139 metres.

Drilling targeted a wide mineralised structure which HOR interpreted as the sheared eastern limb of a folded Volcanagenic Massive Sulfide (VMS) horizon.

The company reported the best results as 45m at 1.22 per cent copper from two metres, 22 metres at 1.8 per cent from 12 metres, and 16 metres at 1.1 per cent copper from surface.

Copper mineralisation intersected is believed to continue beneath a post-mineralisation proterozoic dolerite unit and HOR plans to test this area in future deep drilling.

Specifically, the company said phase two of the drilling program will prioritise further definition and extension of the Motters Zone.

One gold assay was also received which included one metre at 1.2 grams per tonne gold from 70 metres in quartz veining.

Shares last traded in January 2020 at 1.2 cents.





LEAVE A REPLY

Please enter your comment!
Please enter your name here