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Horseshoe Metals (ASX: HOR) Completes ASX Requirements for Relisting Potential – The Market Herald

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  • Horseshoe Metals (HOR) has completed the activity requirements to consider lifting the suspension of trading after ASX has been suspended for almost two years.
  • Recent drilling evaluated stockpiles from historic gold and copper mining activities at the Horseshoe Light Copper-Gold Project in Western Australia.
  • If the suspension is released or released, Horseshoe Metals will carry out Phase 2 activities such as RC drilling, auger sampling and resource estimation in the project.
  • The company’s stock was last traded at 1.2 cents

Horseshoe Metals (HOR) has completed the activity requirements for ASX to consider unsuspending trading.

Material inventories were suspended from December 2019 after ASX considered applying Chapter 11 to transactions related to two South Australian-based projects.

Horseshoe has completed an auger drilling program at the Horseshoe Lights Copper-Gold Project in the Murchison area of ​​WA.

The Phase 1 program was designed to assess surface stockpile materials remaining from historic gold and copper mining activities. The company is following up on the historical goals of potential initial development opportunities, including off-site treatment of gold-containing materials.

According to Horseshoe, the best results include 4 meters of 5.34 grams of gold per ton from the surface, 4 meters of 2.4g / t gold from the surface, and 4 meters of 2.19g / t gold from the surface. increase.

Prior to that, the company completed reverse circulation (RC) drilling of C20 stockpiles. RC results confirmed that there was considerable gold and copper material in the minable stockpile.

The best results of RC drilling contained 9 meters of gold at 1.69 g / t, 1 meter to 0.4% copper, 3 meters at 2.54 g / t gold and 0.73% copper from the surface.

Horseshoe Metals evaluates early development or potential cash flow opportunities from the processing of historic gold and copper stockpiles prior to Phase 2 activities.

If the suspension is lifted or lifted, the company will proceed with Phase 2 activities such as RC drilling, auger sampling, and resource estimation in the project.

The company’s stock was last traded at 1.2 cents.



Horseshoe Metals (ASX: HOR) Completes ASX Requirements for Relisting Potential – The Market Herald

Source link Horseshoe Metals (ASX: HOR) Completes ASX Requirements for Relisting Potential – The Market Herald

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