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Horseshoe Metals appoints Brian Rear to the board

Last updated: 10:30 19 Oct 2015 AEDT, First published: 09:30 19 Oct 2015 AEDT

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Horseshoe Metals (ASX:HOR) has appointed experienced mining veteran Brian Rear as a non-executive director.

Rear’s immediate focus will be the Oxide Copper project at Horseshoe Lights, which is located in the Gascoyne region of Western Australia.

Horseshoe Lights operated up until about two decades ago, and produced 300,000 ounces of gold and 54,000 tonnes of contained copper.

This included over 110,000 tonnes of direct shipping ore at between 20-30% copper.

Adding interest, the deposit is hosted by quartz-sericite and quartz-chlorite schists of the Lower Proterozoic Narracoota Formation, which also hosts the Sandfire Resources (ASX:SFR) DeGrussa copper/gold mine.

Rear’s copper experience covers large porphyry copper (Bougainville), complex copper, zinc and lead (Prieska Copper South Africa), as well as three copper leach projects within Australia.

His particular expertise in project feasibility and development fits well with the potential copper opportunities at Horseshoe Lights.

Highlighting the prospectivity of Horseshoe Lights, recent drilling delivered: 27 metres 2.4% copper from 36 metres; and 31 metres at 2.1% copper from 81 metres.

With these results exceeding historical drilling results at the project, this provides for resource expansion potential.

The project currently hosts around 12.85 million tonnes at 1% copper, 0.1g/t gold and 1.9g/t silver for 128,600 tonnes of copper, 36,000 gold ounces and 793,400 silver ounces.

In other board changes, Michael Fotios takes on the role of chairman, and Neil Marston steps down as managing director and company secretary.

 

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