Helix Resources (ASX:HLX) has announced its ‘expansion of foothold’ at the Cobar copper-gold project by way of an earn-in JV deal with Legacy Minerals.
Legacy’s 308sq.km Cobar landholding – named after the nearby town in NSW – is 10km from Aurelia’s Peak Gold Mine and the same distance from Metals Acquisition’s CSA copper mine.
Geotechs are Helix are gearing up to conduct geophysical surveys on-site to start collecting data intended to assist drillers find underground mineralisation.
“We are pleased that Legacy has agreed this opportunity and recognised the local expertise that Helix can contribute here. We look forward to working with Legacy to hopefully make a new discovery on this underexplored piece of ground,” Helix MD Kylie Prendergrast said.
“This agreement provides Helix with an exciting exploration opportunity located close to operating gold and copper mines and having the potential to discover Cobar-type mineralisation with several, well regarded, undrilled targets.”
One electromagnetic target called ‘Woggle’ is already on Legacy’s radar; another batch of anomalies are known to occur around the Myrt Fault geological feature. Geotechs believe anomalies at this structure trend in a north northwest to south southeast structure.
Helix last traded at 0.3cps.