Horseshoe Metals has announced a significant new copper Exploration Target at its Motters Zone within the Horseshoe Lights Project, estimating up to 3.6 million tonnes grading 1.5% copper. This development highlights the potential to substantially expand the existing resource base as Phase 2 drilling and commercial discussions advance.
- New Exploration Target of 2.6–3.6 million tonnes at 1.0–1.5% copper
- Target extends to 600 metres depth with oxide, transitional and sulphide zones
- Phase 2 drilling to test extensions and infill areas underway this quarter
- Existing Horseshoe Lights Mineral Resource Estimate totals 12.85 million tonnes at 1.00% copper
- Ongoing discussions with commodity traders for offtake and funding arrangements
A New Chapter for Horseshoe Lights
Horseshoe Metals Ltd (ASX, HOR) has revealed a compelling new copper Exploration Target at the Motters Zone, part of its Horseshoe Lights Project in Western Australia. The company estimates a potential 2.6 to 3.6 million tonnes of copper mineralisation grading between 1.0% and 1.5% copper, extending to a depth of 600 metres below surface. This target encompasses oxide, transitional, and sulphide mineralisation within a steeply west-dipping and south-plunging zone, striking approximately 300 metres at surface.
Building on a Solid Resource Base
The Motters Zone Exploration Target is poised to complement and potentially expand the existing Horseshoe Lights Mineral Resource Estimate (MRE), which currently stands at 12.85 million tonnes grading 1.00% copper, alongside gold and silver credits. The new target’s continuity and scale, supported by extensive drilling data and 3D geological modelling, suggest a robust envelope of mineralisation that could significantly enhance the project’s resource footprint.
Drilling and Development Plans
Horseshoe Metals is advancing quickly with Phase 2 drilling scheduled to commence this quarter, focusing on testing the oxide zone near surface, infilling key stockpile areas, and exploring down plunge and along strike extensions of both the Motters and Main Zones. The company’s methodical approach includes Reverse Circulation and Diamond drilling, metallurgical test work on oxide copper stockpiles, and gravity recovery testing on flotation and CIP tailings, all aimed at refining the resource and advancing towards a formal Mineral Resource Estimate.
Commercial and Strategic Momentum
Alongside technical progress, Horseshoe Metals is actively engaging with multiple well-known commodity traders to explore copper offtake and funding arrangements. These discussions are critical as the company seeks to underpin the project’s commercial viability and secure the capital necessary for development. The strategic alignment of exploration success with potential market partnerships positions Horseshoe Metals to accelerate the unlocking of value at Horseshoe Lights.
Context and Outlook
The Horseshoe Lights Project, with its history of significant copper and gold production, is a classic example of a Volcanogenic Massive Sulphide (VMS) deposit undergoing modern exploration techniques to reveal new opportunities. The Motters Zone’s distinct geological characteristics, including its steep dip and plunge, suggest a structurally controlled mineralisation style that differs from the Main Zone, offering fresh avenues for resource growth. As drilling and assay results emerge, the market will be watching closely to gauge the scale and quality of this copper opportunity.
Bottom Line?
With a promising new copper target and active drilling underway, Horseshoe Metals is setting the stage for a potentially transformative phase at Horseshoe Lights.
Questions in the middle?
- Will Phase 2 drilling confirm the upper range of the Exploration Target tonnage and grade?
- How soon can Horseshoe Metals convert the Exploration Target into a formal Mineral Resource Estimate?
- What are the terms and timing of potential offtake and funding agreements with commodity traders?