- Helix Resources (HLX) uncovers near-surface oxide and sulphide copper mineralisation at the Main Lode area within its Canbelego copper project in NSW
- The company struck a “high-grade” copper zone extending 16 metres at 3.21 per cent copper from surface to a depth of 150 metres through reverse circulation (RC) drilling
- Results from this RC work include six metres at 4.72 per cent copper from 103 metres within a wider 10-metre zone at 3.02 per cent copper
- The company says it will use downhole electromagnetic (DHEM) surveys and deeper diamond drilling to test the continuity of high-grade copper shoots in the area
- Helix shares are up 25 per cent and trading at 0.8 cents at 2:28 pm AEDT
Helix Resources (HLX) has uncovered near-surface oxide and sulphide copper mineralisation at the Main Lode area within its Canbelego copper project in NSW.
The company on Thursday said reverse circulation (RC) drilling work revealed a “high-grade” copper zone extending 16 metres at 3.21 per cent copper from surface to a depth of 150 metres.
Assay results from this RC work include six metres at 4.72 per cent copper from 103 metres within a wider 10-metre zone at 3.02 per cent copper.
The company also completed diamond drilling that intercepted copper sulphides from a 40-metre depth, with the drill hole remaining open at depth.
“One of the very shallow intercepts, just 13 metres beneath surface with five metres at 5.4 per cent copper within 25 metres at 1.9 per cent copper, is open to the south for 130 metres to the historical underground workings,” Helix Managing Director Mike Rosenstreich said.
“These results are highly encouraging for increasing the copper grade in this area compared to the current mineral resource estimated in 2010 — which should add copper tonnes to our inventory.”
HLX completed a total of 906 metres in RC drilling across seven holes in January and February this year.
The company said it would continue to use downhole electromagnetic (DHEM) surveys and deeper diamond drilling to test high-grade copper shoots.
Helix shares were up 25 per cent and trading at 0.8 cents at 2:28 pm AEDT.