- Helix Resources (HLX) encounters visual copper mineralisation 200 metres west of the Greater Canbelego joint venture project in New South Wales
- One hole intersected oxide copper mineralisation from seven to 34 metres while the second intersected a four-metre interval of dispersed and vein chalcopyrite from 94 metres
- The mineralisation was identified under Helix’s 5000-metre reverse circulation drilling program that is testing new targets at the Greater Canbelego and Caballero prospects
- Drilling will continue testing the new lodes to the west of Canbelego with a focus to shift to Caballero to follow up on anomalous results encountered in 2018
- Helix is down 12.5 per cent on the market with shares trading at 0.7 cents at 12:46 pm AEST
Helix Resources (HLX) has encountered visual copper mineralisation 200 metres west of the Greater Canbelego joint venture (JV) project in New South Wales.
The project is held in a JV with Aeris Resources (AIS) with Helix holding 70 per cent and Aeris holding the remaining 30 per cent.
One hole intersected oxide copper mineralisation from seven to 34 metres downhole while the second hole intersected a four-metre interval of dispersed and vein chalcopyrite from 94 metres.
These findings extend the mineralisation in the CBW1 Lode a further 60 metres to the north which remains open to the north and at depth.
The mineralisation was identified under Helix’s new 5000-metre reverse circulation (RC) drilling program that is testing new targets at the Greater Canbelego and Caballero prospects along the Rochford copper trend at the Canbelego project.
Drilling tested the new geological interpretation of a high-grade south-plunging copper shoot that previously intersected 14 metres at 4.2 per cent copper.
RC drilling will continue testing the newly identified lodes to the west of Canbelego with focus to then shift south to the Caballero prospect to follow up promising anomalous results encountered in 2018 but are yet to be followed up.
“The current diamond and RC drilling is providing strong encouragement of deeper high-grade copper shoots at the Canbelego main lode and potential parallel ‘look-a-likes’ in close proximity,” Managing Director Mike Rosenstreich said.
“Copper mineralisation is typically very ‘visual’ and RC drilling is much quicker than diamond core drilling – so we can make drill decisions and share news more regularly ahead of assays – which are still taking 60 to 80 days.”
Helix was down 12.5 per cent on the market with shares trading at 0.7 cents at 12:46 pm AEST.