Horseshoe Metals Limited (ASX: HOR) has provided an update regarding the recent assessment of the high-grade direct shipping ore surface stockpiles at the company’s Horseshoe Lights Copper-Gold Project in Western Australia.
The Horseshoe Lights Copper-Gold Project is the original Cu/Au VMS discovery in the Bryah Basin and is located approx. 60km west of DeGrussa Copper Mine owned by Sandfire Resources (ASX: SFR).
Past production from Horseshoe Lights includes around 316,000oz Au & 55Kt Cu metal in two phases of mining, and the deposit contains a current in situ resource 128Kt Cu metal @1.0% (0.5% cut-off) and 36,000 oz Au.
Significantly, the copper phase of mining included early DSO copper production that has left subgrade and rehandle DSO material around the site. Areas identified and assessed as having future DSO potential include, M15, Subgrade and C20 stockpiles along with rehandle and surface pimple dumps located on the North Waste dump, gold tailings and Southern low-grade stockpile.
Surface grab samples have been collected to confirm grade as well as a 27kg composite sample source from various stockpiles around the site. The composite sample was delivered to Nagrom for compositing, crushing, and analysis. Sub-samples of this composite have been provided to potential customers for assessment who have expressed strong interest in purchasing the material. This material is identical to the historically produced and sold DSO material. The grab samples assay up to 40.3% copper and the stockpile composite assays up to 39.0% copper. The DSO material occurs in a wide range of sizes from boulders 2 to fines throughout the stockpiles and dumps. The coarse material is easily scavenged utilising loaders and excavators equipped with sieve buckets.
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