Horseshoe Gold Mining Inc. is largely a diamond explorer in Canada and reportedly owns a 1/3 interest in Dentonia Resources, a 1/3 interest in Kettle River Resources as well as an interest in DHK Diamonds Inc. Entered into the scrum in Mexico by optioning an Almaden Property in Oaxaca State in 2003.

Horseshoe Gold Mining Inc.    HSX   (TSXV)

Fuego Property, Oaxaca, Mexico. Feb 11, 2004, option to earn 60% int in gold-silver pros, Fuego prop, Mexico, from Almaden Minerals Ltd for 1 million com shs & by expend US$3 million on explor. Thereafter, co has 120 days to acq Almaden's remaining 40% int in return for 40% int in co's cap. Initial program of mapping, geochem & geophys surveys with drilling anticipated late May 2004.

Described as an epithermal vein target initially stkes as part of the BHP-Billiton exploration JV, the Fuego property is the site of limited historic workings that have exposed at surface a 20-metre section of silicified volcanic rock characterized by banded quartz-adularia veining. The veins plunge at a shallow angle, are up to 5 metres wide, and have been traced for 1 km on surface. Almaden took 16 grab samples of vein material or silicified wallrock. The veins ran up to 30 grams gold and 764 grams silver per tonne, and the altered volcanics returned as much as 2.4 grams gold and 953 grams silver. Some samples displayed visible gold.  Geological mapping and geochemical sampling of both rocks and soils are under way, as are geophysical surveys. Samples also have been sent out for fluid-inclusion analysis in order to determine the degree of erosion.

NMN 26May03
CMH 2003-2004