Helix Resources (ASX:HLX) has unveiled as compilation of historical results from the Muriel Tank gold project where it is undertaking new exploration for gold and copper. Muriel Tank is located in EL 6739, located approximately 60km west of Nyngan in central, NSW.
“With the historical compilation largely complete, the untested opportunities in the Gold Project are clearly emerging," Managing Director, Kylie Prendergast, said.
"Historical gold is reported over a sizable 5.5km by 1km area and previous drilling was very patchy. Our new regional structural model gives us an edge in understanding the controls on the mineralisation and hence, where we might find more, especially under cover.
"International gold prices are high, and Muriel Tank is well located close to current processing infrastructure suitable for gold recovery including the new plant under construction at the Mt Boppy Gold Mine 20km to the west as well as Aurelia’s Peak Plant and Kingston’s Mineral Hill Plant – though further away.
“Helix is focused on advancing 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.”
Muriel Tank is a historic goldfield with recorded production of over 400 tonnes at 15 g/t Au from shallow workings up 30m deep. The gold mineralisation is hosted within shear zones up to 4m wide containing quartz veins and quartz breccias up to 2m thick.
Historically the gold at Muriel Tank mineralisation was considered to represent saddle-reef style deposits, analogous to Victorian Slate Belt style gold deposits. The nearest gold deposit of significance in the region is Mt Boppy located 20km to the west, which produced 417,000 ounces of high-grade gold, however it is noteworthy that elevated gold values are also present in Tritton-style copper-gold deposits located 14km to the east. Copper mineralisation is also present at Muriel Tank, with malachite observed on rock samples and mullock, suggesting the gold project may also have potential for Tritton-style copper-gold deposits.
A review of the historical records, along with recent field reconnaissance and mapping have identified multiple opportunities to expand the potential scale of the Muriel Tank gold project. The area has received minimal drilling, most of which was shallow RC that did not test the extension of veins along strike. Structural-lithological control on high-grade gold shoots is present within specific lithological units.
Previous rock chip assays and drill hole assays may have underreported gold grade due to the presence of coarse gold and the sub-sampling methods employed. There is an opportunity to expand the gold potential of the historic gold project beyond historical workings in areas with exposed quartz veins.
Exploration approach and next steps
Recent field mapping has identified previously untested sub-parallel zones of blue quartz veins, which are highly prospective for further gold mineralisation. The current workflow is focused on continuing with detailed field mapping and surface sampling along prospective trends, particularly in areas where there is no previous geochemical sampling. Infill and extensional auger drilling will also be undertaken to provide comprehensive geochemical coverage and facilitate definition of drill targets. Upcoming plans include:
- Assessment of current rock chip samples at the laboratory (40 samples).
- Continue with detailed geological mapping over key areas and petrography over main geological units.
- Preparation of updated solid geology map and fault map for EL6739.
- Auger sampling to identify vein extensions and new veins.
- Undertake drilling.
