- Helix Resources (HLX) hits further oxide and sulphide copper intercepts at the CZ Deposit in NSW
- The 20-hole program was designed to scope out shallow oxide copper mineralisation, generate metallurgical samples and test inferred sections of the Mineral Resource model
- The company says further shallow copper oxide reverse circulation drilling results confirmed the new mineralised zone remains open to the southeast, returning hits of up to 3.97 per cent copper within 27 metres
- Helix Resources’ shares jumped 10.3 per cent, trading at 1.6 cents at 11:55 am AEDT
Helix Resources (HLX) has hit further oxide and sulphide copper intercepts at the CZ Deposit within its wholly-owned tenements along the Collerina Trend in NSW.
The company said further shallow copper oxide results confirmed the new mineralised zone remains open to the southeast.
Drilling was completed at the CZ deposit area in November 2021 for a total of 20 holes comprising 1420 metres of reverse circulation and 2005 metres of diamond drill core.
The program was designed to scope out shallow oxide copper mineralisation, generate metallurgical samples and test inferred sections of the Mineral Resource model.
The oxide copper zone extends to over 120 metres to the east, and 65 metres to the west of the CZ Deposit, with results including two metres at 3.97 per cent copper within 27 metres at 0.68 per cent copper from 22 metres.
“We have generated some further positive results confirming the potential of the shallow, ‘oxide’ copper mineralisation with the new reverse circulation intercepts,” Managing Director Mike Rosenstreich said.
“There is much work still to do at CZ to evaluate what have been intriguing drill results; positive shallow intersections but with greater variability on the deeper sulphide zones.”
Helix Resources’ shares jumped 10.3 per cent, trading at 1.6 cents at market close.