Helix Resources Ltd (ASX:HLX) has completed DHEM geophysics on the first two scout drillholes targeting a prospective IP anomaly at the company’s Canbelego copper project, located in the Cobar- Nyngan area of central NSW.
The Canbelego Joint Venture project is located within EL61053, part of Helix’s Western Group Tenements.
“Despite a mineralised structure being intercepted where predicted, deployment of downhole EM geophysics leads us to believe further copper sulphide lodes in the Canbelego far west position will be deeper than 400m depth below surface or more than 200m along strike,” Managing Director, Kylie Prendergast, said.
“While we are waiting for final results, the focus will now shift back to Bijoux, where a well-developed surficial copper anomaly has seen very limited drill testing. The first step will be to infill the current wide-spaced reconnaissance auger coverage to enhance targeting in the Bijoux anomaly.
“In the meantime, Helix continues to progress other priority prospects including at the Eastern Group Tenements where Helix has several priority targets in its pipeline which we believe have potential to deliver a new copper-gold discovery in the highly endowed, Cobar region close to established operations and processing facilities.”
Two drillholes, CBLRCDD065 and CBLRCDD066, were completed into a large pole-dipole IP anomaly, referred to as the Western chargeable anomaly at the Canbelego copper project.
A fault zone with intense chlorite alteration and late veins and disseminations of pyrite and chalcopyrite mineralisation was intersected at the target zone, 250m below surface.
Results for DHEM surveys for the two drillholes have now been received, however no basement conductors were identified. Modelling indicates that a copper lode of similar size to the Canbelego Main Lode should be visible at least 200m off hole. Therefore, any future drilling should be targeted at least 200m along strike (to the north or south) or down dip from the area tested by CBLRCDD065 and CBLRCDD066.
Assay results and petrophysical results for the drillholes remain pending and are expected to be received in the coming weeks. These results will be assessed to evaluate the prospectivity of the mineralised structure.
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