Horseshoe Metals Limited · ASX:HOR
Horseshoe Metals — Investor Presentation (May 2011)
21 slides from Horseshoe Metals's investor presentation, May 10, 2011
Slide 1: Investor Presentation May 2011
For personal use only Investor Presentation May 2011
Slide 2: Disclaimer
Disclaimer For personal use only This presentation is not a prospectus nor an offer for securities in any jurisdiction nor a securities recommendation. The information in this presentation is an overview and does not contain all information necessary for investment decisions. In making investment de
Slide 3: Company Overview
Company Overview For personal use only Horseshoe Metals (ASX: HOR) • listed on the ASX in July 10 • successful IPO raised $7 million • a copper and gold focused company • 100% ownership of the Horseshoe Lights and Kumarina projects • tenements covering ~300 km2 in the resource rich Peak Hill Mineral
Slide 4: Corporate Summary
Corporate Summary For personal use only Capital Structure • Shares 56.1 M • Options 30.0 M • Market Cap $17.0 M (undiluted @ 30.5 cents per share) • Cash (as at 9 May 2011) $2.4 M Substantial Shareholders • Azure Capital Limited 7.9% Management • Neil Marston (Managing Director) • Jeremy Shervington
Slide 5: Projects Overview
Projects Overview For personal use only Horseshoe Lights • located in the Bryah Basin • partly within the Narracoota Volcanics • 75km WNW of Doolgunna Cu/Au discovery Kumarina • located in the Bangemall Basin • same geological setting as several other nearby base metal deposits
Slide 6: History
Horseshoe Lights Project History For personal use only • Discovered in 1946 • 1984 - 1988:- Gold CIP plant • 1988 – 1994:- Copper flotation plant and Direct Shipping Ore (DSO) • Final open pit depth – 215m below surface • Mine closed in 1994 – low copper prices prevented a cutback of the pit to acce
Slide 7: Mine Production Summary
Horseshoe Lights Project Mine Production Summary For personal use only
Slide 8: JORC Resource
Horseshoe Lights Project JORC Resource For personal use only • Updated in Jan 2010 by Resource Block Model (oblique view) Motters Zone Coffey Mining • Inferred Mineral Open Pit Resource estimated as 4.9 MT @ 1.0% Cu containing 48,000 tonnes of copper North West • Mineralisation located Stringer Zone
Slide 9: Exploration Opportunity
Horseshoe Lights Project Exploration Opportunity For personal use only • Many of the old drill holes were less than 80m deep • Focus of deep drilling was on the Main Zone • North West Stringer Zone only tested at depth south of line 2000mN • The area north of 2000mN is untested below 80m depth
Slide 10: Exploration Strategy
Horseshoe Lights Project Exploration Strategy For personal use only Phase 1 and 2 drilling was aimed to test: • north along strike from the North West Stringer Zone • infill zones and down dip of the North West Stringer Zone, and • south of Motters Zone
Slide 11: Phase 1 drilling
Horseshoe Lights Project Phase 1 drilling For personal use only • 13 RC holes drilled (2,620m) • Copper mineralisation reported in all holes • 1 hole (RC 1005) drilled at 2050mN to test under an old hole which reported copper mineralisation at ~60m depth • RC 1005 – best intercept recorded, 14m (95-
Slide 12: Phase 2 drilling
Horseshoe Lights Project Phase 2 drilling For personal use only • 13 RC holes drilled (2,632m) • All holes drilled in North West Stringer Zone intersected copper mineralisation • RC 1014 and 1025 drilled 25m north of RC 1005 both intersected high grade copper mineralisation • RC 1014 – 14m @ 3.7% Cu
Slide 13: Phase 3 drilling
Horseshoe Lights Project Phase 3 drilling For personal use only • 15 RC holes drilled (3,110m) • 12 out of 14 holes drilled in North West Stringer Zone intersected copper mineralisation • Drilling extended mineralisation zone a further 50m north and by up to 100m down dip of Phase 1 & 2 drilling • R
Slide 14: Cross Section
Horseshoe Lights Project Cross Section - North West Stringer Zone For personal use only
Slide 15: Drilling - Results to Date
Horseshoe Lights Project Drilling - Results to Date For personal use only • Zone of Cu mineralisation in North West Stringer Zone has been extended by over 150m from 1990‟s drilling • Drilling has intersected Cu mineralisation to depths of 200m BGL • Mineralisation in multiple 150m zones grading gen
Slide 16: Kumarina Project
Kumarina Project For personal use only Kumarina represents a potential satellite operation to feed into future Horseshoe Lights production • Copper discovered in 1913 and worked up until 1973 • Historical workings extend over nearly 3km including a 50m deep shaft and drives • Recorded production was
Slide 17: Kumarina Project
Kumarina Project For personal use only The Kumarina area is at an early stage of assessment. • Limited exploration since mining ended in 1970‟s • Aircore drilling in 1998 produced up to 6m at 4.24% Cu (39-45m) near old shaft (pictured) • High resolution aeromagnetic survey completed in March 2011 •
Slide 18: 2011 upcoming activities
2011 upcoming activities For personal use only Horseshoe Lights • Review results of ground EM (FLTEM) survey (in progress) • Geological review using latest drilling information (in progress) • Resource re-estimation • Follow-up drilling – targets to be confirmed Kumarina • Interpretation of aeromagn
Slide 19: The Value Opportunity
The Value Opportunity For personal use only Tenements with past production Successful drilling results JORC Resource – 48,000t Cu metal Near term mining potential
Slide 20: Appendix 1: Inferred Mineral Resources Estimate
Appendix 1: Horseshoe Lights Project Inferred Mineral Resources Estimate For personal use only It is noted in respect of the resource estimation that: • Drilling coverage for the project areas ranges from a nominal 20m by 20m to 40m by 60m. The drill holes are typically orientated either vertically
Slide 21: Competent Persons Statement
Competent Persons Statement For personal use only The information in this presentation to which this statement is attached that relates to Exploration Results is based on information compiled by Mr Mark Teakle, who is a Member of The Australasian Institute of Mining and Metallurgy and the Australian