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Helix Resources Ltd (ASX:HLX) has extended the prospective copper zone of its Collerina Copper Trend – which sits within the company’s Eastern Group Tenements in New South Wales – through shallow auger drilling which has revealed two new anomalies close to a newly discovered prospect.
Assays from the drilling picked up evidence of widespread gold and antimony (Sb) anomalism in two new areas, dubbed the Iowaba and Tarawera targets, with these located 20 and 35 kilometres north of the Aldebaran prospect.
The find significantly pushes out the copper-gold prospectivity of Helix’s Collerina Copper Trend, and the company also noted the presence of territorially significant path finder elements such as gold (Au), Sb and As (arsenic).
The latter provide indications of copper-gold mineralisation being developed to the north of the target areas by Aeris Resources (ASX:AIS), hosted within the same structural corridor.
Helix is now busy defining several geochemical hotspots within this corridor, with sampling occurring for the first time in several locations, and auger samples from Iowaba and Tarawera have picked up gold above 20 parts per billion (ppb) over a 10 kilometre area.
Similar results were also found at Honeybugle over a 5 kilometre area, and Helix intends to follow up this work with infill auger and then aircore drilling as needed to define targets for further drilling work.
Managing director Kylie Prendergast said the recent finds in this area strengthened its credentials as a highly prospective territory.
“The prospective corridor, we refer to as the Collerina Copper Trend, extends south from the Aeris copper tenements through Helix’s Eastern Group Tenements for over 100km of strike length,” she said.
“The new auger results, which only test part of this corridor, continue to confirm this is a major prospective zone with signatures indicative of copper-gold mineralisation such as those occurring at Aeris’ Tritton Copper Operations – which have been producing 20-30,000 tonnes per annum of copper plus gold for the past 30 years.
“Over the past six months, Helix has focused on advancing several priority targets in its pipeline which we believe have potential to deliver a new copper-gold discovery in the highly endowed, Cobar region close to established operations and processing facilities.”
Helix has been trading at 0.2 cents.
