- Helix Resources (HLX) has found copper sulphide mineralisation through a drilling program at its 70-per-cent-owned Canbelego Copper Project in NSW
- The project is held in a joint venture with Aeris Resources (AIS), which owns the remaining 30 per cent
- Helix began a diamond drilling program last month and the first hole intersected a 24-metre zone of copper sulphides from 257 metres downhole
- The drill hole also extended copper mineralisation about 40 metres down dip from existing mineralisation
- Assays are expected next month, and a second drill hole is in progress
- Helix’s shares are trading in the grey at 1.3 cents
- Aeris Resources is trading flat at 10 cents
Helix Resources (HLX) has found copper sulphide mineralisation at its majority-owned Canbelego Copper Project in New South Wales.
Helix Resources owns a 70 per cent interest in the project, with fellow ASX-lister Aeris Resources (AIS) holding the remaining 30 per cent.
A drilling program began at the joint venture project last month to target an untested downhole electromagnetic conductor that was discovered through previous drilling.
Pleasingly, the copper sulphides were intersected in the first diamond hole drilled under this program. CANDD001 intersected 24 metres of Canbelego-style copper sulphide mineralisation from 257 metres downhole.
CANDD001 also extended copper mineralisation about 40 metres down dip from the existing Canbelego mineralisation.
“It’s very pleasing to intersect visible copper sulphides at the predicted copper target position extending mineralisation another 40 metres below the current outlines and with a second drill hole in progress we hope to extend the known copper sulphide mineralisation at Canbelego even deeper,” Managing Director Mike Rosenstreich said.
The second drill hole is now in progress to test the extended mineralised zone.
Drill cores from the first hole are being sampled, and assays are expected next month.
Helix’s shares are trading in the grey at 1.3 cents at 12:12 pm AEST.
Aeris Resources is trading flat at 10 cents at 12:08 pm AEST.