Kopore Metals Limited (ASX: KMT) has successfully met the first-year minimum expenditure milestone under the earn-in and joint venture agreement over the Horseshoe West Copper-Gold exploration project in Western Australia.
The company is now preparing to commence a ground-based dipole/dipole IP geophysical survey during February 2022. The geophysical survey will be conducted over the Horseshoe West Prospect, which is located adjacent to Horseshoe Metals Ltd’s Horseshoe Lights Copper-Gold Mine, subject to approval of the final programme of works.
The dipole/dipole geophysical survey will test for potential conductive units across magnetic targets identified by the company during its July 2021 airborne magnetic survey and a recent geochemical programme , which covered an area of approximately 2.5km.
The planned programme will occur in two phases:
- Phase 1 – an initial programme comprising four lines of dipole/dipole geophysics; and
- Phase 2 – based on initial field interpretation of Phase 1 data, an additional two lines may be tested across an area of interest.
The exploration programme aims to identify potential conductive bodies for targeted drilling in 1H 2022.
The company is seeking to identify high-grade mineralisation like that produced from the historic Horseshoe Lights Mine. The Horseshoe Lights Mine was discovered in 1946 and produced approximately 56,000t Cu (at an average grade of 1.7% Cu) and 307,000oz Au (at an average grade of 2.9g/t ) up until 1994.
Kopore’s Agreement relates to an area of 32.4 sq. km of largely unexplored land surrounding the Horseshoe Lights Mine. The Agreement area is approximately 75km west of Sandfire Resources’ Degrussa mine in the Bryah Basin region of Western Australia.
Under the Agreement, the company has achieved its first expenditure milestone and has transitioned to the main earn-in phase of the agreement.
For further information please visit: https://www.koporemetals.com
