Helix Resources (ASX:HLX) has commenced a drill campaign targeting highly prospective IP anomalies 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.
“The new ‘far’ Western Canbelego target is the largest and strongest IP anomaly which we have identified to date,” Managing Director, Dr Kylie Prendergast, said.
"The commencement of a new drilling campaign is always exciting and I am very interested to see what we unearth by testing this large-scale, chargeable and as-yet undrilled target.
"This programme is testing for new Cobar-style deposits which often feature as parallel lodes of copper mineralisation, such as those seen at Metal Acquisition Limited’s large, high-grade CSA copper deposit. Helix believes that the Canbelego copper deposit is analogous to the CSA copper deposit, with three separate high-grade copper lodes already identified in drilling to date.
"Whilst we wait for the first assays from the Canbelego drilling, expected in late June, we are continuing infill auger drilling for gold at our Eastern Group Tenements. We plan for a strong stream of news from this highly active period.”
Canbelego IP Targets
The company recently completed an induced polarisation (IP) survey northwest of the Canbelego copper deposit extending the IP coverage north of known mineralised zones at Canbelego.
A pole-dipole (PDIP) array was used for all lines, using 100m receiver dipoles, with 50m dipoles used on the northern most line.
The PDIP survey defined a prominent NNW-trending Western chargeable anomaly with a strike length of 625m, which is more chargeable and larger than the anomaly associated with the Canbelego Main Lode.
Significantly, this anomaly is outside the previously drilled area, but within the surface copper geochemical anomaly. The depth to the top of the chargeable zone is approximately 130m vertical and this PDIP anomaly represents a compelling drill target.
