The horse and a woman rider fell off the Santa Ana trail around noon.
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Officials were able to rescue the woman, who suffered minor injuries, but aiding the horse was a more difficult challenge.
They had to first sedate and blindfold the 1,200-pound animal and then bring in an LA County rescue helicopter to hoist it out of the ravine.
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Officials believe the horse was not seriously injured in the fall. It appeared to be able to stand after it was brought safely to flat ground.