The company said that the 2000m reverse circulation (RC) drill program has begun at the Kumarina copper project, to test exploration targets at the Snell North prospect and the Snell Shear Zone with follow-up drilling at the old Kumarina mine.
At the Snell North Prospect, the north-east tending gravity low corridor, which coincides with historical copper prospecting shafts, will be tested, the company said.
Horseshoe Metals plans to carry out a follow-up drilling of up to 5 RC holes at the Kumarina Deeps prospect in August/September.
The program will be co-funded under the Western Australia State Government’s Exploration Incentive Scheme with a grant of about $100,000.
The company would then commence the next phase of drilling at the Horseshoe Lights copper-gold project. Drilling at Horseshoe Lights is currently being planned.
Horseshoe Metals, meanwhile, entered into a controlled placement agreement with Acuity Capital Investment Management for about $1m funding for follow-up exploration.
