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Horseshoe Metals awarded government grant for copper drilling at Kumarina


Horseshoe Metals (ASX: HOR) has been given a funding boost to the tune of $101,784 from the Western Australian Government for drilling at the company’s Kumarina Copper Project.

Funds from the co-funded drilling grant will be put towards drilling an untested magnetic anomaly at the Kumarina Deeps Prospect.

A drilling program is planned to begin the second half of 2012. To date no drilling has been carried out at Kumarina Deeps.

Horseshoe is targeting mineralisation within the Backdoor Formation of the Collier Group, which is thought to be prospective for a deep intrusive-related base metal system.

The grant has been awarded to Horseshoe under the state government’s Innovative Drilling Program, under the Exploration Incentive Scheme (EIS).

Under the terms of the EIS, Horseshoe will be required to match the $101,784 provided by the government.

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Price: 0.012 AUD

Market: ASX
Market Cap: $2.46 m

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