The Horseshoe Lights deposit was discovered in 1946 and was in production up until 1994.The total life of mine production to 1994 is summarised in the table below:
|Period||Owner||Type||Tonnes||Au (g/t)||Cu (%)||Ag (g/t)||Hg (g/t)|
In-situ Mineral Resources
In 2013 the Company commissioned CSA Global Pty Limited to undertake a mineral resource estimation using the historical drilling database and the results from the company’s 2010/11 and 2012/13 drilling programmes (94 RC drill holes, 9 Diamond drill holes and 3 Diamond Tails for 19,951 m).
|Category||Tonnes (Mt)||Cu (%)||Au (g/t)||Ag (g/t)||Cu metal (tonnes)||Au metal (oz)||Ag metal (k oz)
The mineral resource estimation for low-grade copper-bearing material remaining on surface at Horseshoe Lights in stockpiles, dumps and tailings is given below:
|Type||Category||Tonnage (t)||Cu (%)||Cu metal (tonnes)|
The potential to host additional copper-gold resources within the current tenements can be supported by the following evidence:
- Past production of around 3.3 Mt at 1.7% Cu and 2.9 g/t Au demonstrates the project area is significantly mineralised.
- The area has major regional shear structures that have tended to displace the mineralised zones that were being mined (such as the east northeast striking fault recognised late during the mining that terminated the Southern end of the main ore-body. These structures have excellent potential to yield en-echelon ore-body repetitions elsewhere within the project area.
- There has been extensive surface disturbance, potentially obscuring any surface expression of mineralised extensions and hampering access for drilling; and as a result there has been little exploration to locate potentially displaced mineralisation.
Potential also exists for en-echelon repetitions of the Horseshoe Lights deposit, especially in the area immediately east of the pit, near the CIP tailings dam and vat leach areas. These areas have only received limited drilling in the past.
- Horseshoe camp refurbishment underway with recommissioning of power, water and communications to assist exploration activities and advance feasibility studies in respect of development options for its copper-gold resources
- RC drilling programme designed to further define Motters copper mineralisation
- Auger drilling programme designed to assess grade of gold leach vats and tailings
- Metallurgical test work programme to finalise flow sheet for retreatment of tailings, gold vats and surface stockpiles underway
Kopore Joint Venture
On 28 January 2021, the Company announced (Horseshoe West Copper/Gold Farm-in and JV Agreement) that it has executed a binding farm-in and joint venture agreement with Kopore Metals Limited (ASX:KMT), providing for an earn in and joint venture in relation to certain tenements surrounding the historical Horseshoe Lights Copper-Gold Mine.
The Agreement relates to an area of 32.4km2 of largely unexplored land surrounding the Horseshoe Lights Mine (see figure). The Agreement Area comprises one exploration licence, nine prospecting licences and part of one mining lease.
Excluded from the Agreement Area is part of M52/743 upon which, the historical open pit and existing copper resource is located (shown as the “Excluded Zone” in figure) as well as waste dumps and stockpiles tailings from the historical operation. Kopore will not acquire any rights in respect of minerals contained in the Excluded Zone or such waste dumps and stockpiles.