Horseshoe Metals Limited has delivered a new copper Exploration Target ranging from 20.0 to 30.0 million tonnes grading 0.7% to 1.2% copper for the Main Zone at its Horseshoe Lights Project in Western Australia.

Modelling of the Main Zone confirms the continuity and predictability of sulphide-dominated mineralisation extending from 200 to 600 metres below surface over a strike length of approximately 700 metres. The conceptual estimation excludes the project's existing Mineral Resource Estimate of 12.85 million tonnes at 1.00% copper, 0.1 g/t gold, and 1.9 g/t silver, which contains 128,600 tonnes of copper, 36,000 ounces of gold, and 793,000 ounces of silver.

Work is also advancing on an updated open pit optimisation covering both the Main and Motters zones.

Phase 2 drilling scheduled for the current quarter will focus on the oxide zone from surface to approximately 50 metres depth at Motters, infill work at the north dump and southern stockpile, testing the Main Zone down plunge and along strike to the north, and extending the Motters Zone along strike and down plunge to the south.

Preparations for a Direct Shipping Ore start-up are nearing completion, with on-site operations expected to commence in the coming weeks.

“Whilst this Exploration Target is encouraging and reinforces the scale of the Horseshoe Lights Project, our immediate focus is on the first phase of revenue generation with commencement of the much anticipated DSO operation. We are mindful that DSO operations have been slated to begin on previous occasions, but with some recent operational progress, and aided by a stronger copper price, we are now well-placed to kick off operations and we anticipate a fuller update in this regard early next week.”

— Steven Sickerdick, GM Oxide-Copper Operations

Additional upcoming catalysts include an update of the 2014 scoping study based on current and projected future copper prices over the coming months.

Read the full announcement: Copper Exploration Target Highlights Large-Scale Potential