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- Helix Resources (HLX) and Aeris Resources (AIS) extend high-grade copper shoots at the Canbelego joint venture project in Cobar, New South Wales
- Assays for three diamond drill holes at the Main Lode area returned a 5.3-metre intersection at 3.4 per cent copper from 421 metres downhole
- Detailed logging and re-interpretation of the results suggest the high-grade, massive copper sulphide shoot plunges steeply to the south, instead of the north, as previously thought
- A drill rig is now due to be deployed to test the Caballero prospect, which is approximately 2.5 kilometres southeast of the Main Lode
- Helix Resources last traded at 1.2 cents, while Aeris Resources last traded at 10 cents on May 4
Helix Resources (HLX) and Aeris Resources (AIS) have extended the high-grade copper shoots at the Canbelego joint venture project in Cobar, New South Wales.
Helix said assays were returned for three diamond drill holes completed in February at the Main Lode prospect. These results included a 5.3-metre intersection at 3.4 per cent copper from 421 metres downhole.
The program aimed to test down-plunge of the high-grade massive copper sulphide zone at the prospect, which previously yielded 14 metres at 4.2 per cent copper.
Helix said detailed logging and re-interpretation of the results suggested the high-grade, massive copper sulphide shoot plunged steeply to the south, not to the north, as previously thought.
A narrow high-grade interval of one metre at 4 per cent copper was also intersected beneath the historical workings.
However, only minor copper-mineralised intervals were intersected in a third hole.
“We are now getting some depth extent on the high-grade, massive copper-sulphide shoot structure — and there is excellent potential for it to develop more at depth,” Helix Managing Director Mike Rosenstreich said.
“The exploration team has focused on systematic, detailed geology resulting in a new interpretation of which direction the high-grade copper zone is trending.”
Drilling resumed at Canbelego in late April, which involved a mixed program of approximately 10,000 metres across 50 diamond core and reverse circulation drill holes. This was designed to test depth extensions of the Main Lode, as well as scope out higher grade outlines on the new lodes identified to the west.
A drill rig is now due to be deployed to test the Caballero prospect, which is approximately 2.5 kilometres to the southeast of the Main Lode.
Helix Resources last traded at 1.2 cents, while Aeris Resources last traded at 10 cents on May 4.
