Asset Summary
| Asset | Horseshoe Lights |
| Interest | 3.0% Net Smelter Royalty |
| Commodity | Gold and copper |
| Location | Australia |
| Stage | Development |
| Counterparty | Horseshoe Metals Ltd. |
Asset Highlights
- Title of Interest and Associated Rights: M52/743
- The project is located 60km west of Sandfire Resources Ltd’s DeGrussa Copper-Gold Mine, in Western Australia. The historic open pit Horseshoe Lights Mine operated up until 1994 and produced 316,000 ounces of gold and 55,000 tonnes of contained copper including over 110,000 tonnes of Direct Shipping Ore, which graded between 20-30% copper.
- The ore body is interpreted as a deformed Volcanogenic Hosted Massive Sulphide (“VMS”) copper-gold deposit that has undergone supergene alteration to generate the gold-enriched and copper-depleted cap that was the target of initial mining. A previous Scoping Study completed by Horseshoe Metals in December 2014 targeted a 1Mtpa open pit mining operation producing upto 47,375t recovered copper, 12,730oz gold and 271,101oz silver in total over a potential 6 year mine life.
- Drilling carried out in 2022 and 2023 has highlighted multiple zones of high-grade copper mineralisation at the Main and Matters Zones – outside of the existing resource. This includes intercepts of 55m @ 0.88% Cu from 22m and 19m @ 1.49% Cu from 269m.
- Further Information: https://horseshoemetals.com.au/wp-content/uploads/2023/08/Quarterly-Activities-Appendix-5B-Cash-Flow-Report.pdf?v=0428