Horseshoe Metals identifies copper drill targets at Kumarina, north of Doolgunna

Horseshoe Metals (ASX: HOR) has initiated some highly anticipated exploration programs at the company's Kumarina and Horseshoe Lights projects.

The anticipation is due to the projects being strategically located near Sandfire Minerals' (ASX: SFR) massive Doolgunna copper gold discovery.

Adding to the potential of Horseshoe Lights, is the company earlier in the year intersected some very high grade copper, such as:

- 15 metres at 5.1% copper from 161 metres, including 3 metres at 11.8% copper; and
- 14 metres at 3.7% copper from 128 metres, including 3 metres at 9.8% copper, with a peak intersection of 1 metre at 17.1% copper.

Kumarina Project

At Kumarina, Horseshoe Metals has identified multiple drill targets following the completion of a ground geophysical survey.

The survey aim was to more clearly identify drill targets before commencement of the first drilling program at Kumarina, with the survey covering two grids for a combined area of 4.6 square kilometres.

A drilling program has now been developed focusing on similar geological settings to those hosting the old mine workings.

Historical information at Kumarina includes copper being discovered in the early twentieth century, which was worked up until 1973.

Highlighting the potential of the area, historical workings extend over nearly 3 kilometres, including a 50 metre deep shaft and drives.

The recorded production was 481 tonnes at 37% copper, and 2,340 tonnes at a grade of 17.51% copper.

The defining factor for the company's potential exploration success in the area, is limited exploration has been conducted in the last few decades - although a shallow aircore hole in 1998 hit 6 metres at 4.24% copper.

In particular, the highly conductive zones of the north-east trending shears, north-south cross faults and the Backdoor formation in proximity to dolerite intrusions will be targeted.

Kumarina is located in the Bangemall Basin, and is around 100 kilometres north of Doolgunna.

Horseshoe Lights Project

At Horseshoe Lights, a DDIP survey focusing on ground east and south of open pit has commenced, which a scheduled to be completed in September 2011 - which will be followed by a phase 4 drilling program.

The project is located in the Bryah Basin, around 75 kilometres west of Doolgunna.

Highlighting the prospectivity of the project, DSO production in the six years to 1994 was 110,691 tonnes, with the DSO ore (Chalcocite) known to exceed 20% copper with gold credits.

Horseshoe Lights has a JORC Inferred Resource of 4.9 million tonnes at 1.0% copper for 48,000 tonnes of contained copper metal.

Originally published at: http://www.proactiveinvestors.com.au/companies/news/19050/horseshoe-metals-identifies-copper-drill-targets-at-kumarina-north-of-doolgunna-19050.html