In this game, that's exactly what I did. I hired a Gate Master fairly early on, and collected the horseshoes from all the areas which had both a Town Portal terminal and a set of stables. This, of course, does not include Ironfist, so I dismissed the Gate Master in Free Haven, and walked back to New Sorpigal via Bootleg Bay and Ironfist. When I later walked back to Bootleg Bay from Ironfist, there was the horseshoe just by the south wall of the Will O' the Wisp.I later bought the Fly spell for one of the sorcerers, and was able to retrieve the horseshoes from inside the New Sorpigal volcano.