Helix Resources Limited’s (ASX: HLX) recently completed ground based ‘fixed-loop’ EM (FLEM) surveys have confirmed the presence of ‘conductive’ anomalies at both the Quanda and Fiveways high-priority copper targets identified by a VTEM survey flown in NSW in early 20213.
The purpose of the ground EM surveys just completed was to confirm the presence of the original VTEM anomaly and also to generate more detailed conductivity data. This data enables the anomaly to be modelled into a shape to assess whether it is geologically ‘reasonable’ and further assists future drill targeting work.
Managing Director Mike Rosenstreich said the ground EM survey was very successful for a number of reasons:
- At Quanda to Hermidale four high priority anomalies were identified from the 2021 VTEM survey extending over approximately six km. The recently completed FLEM surveys confirmed basement conductors at three of these anomalies which are modelled as gently easterly dipping plates, typically from 50 to 75 metres (m) beneath the surface with dimensions ranging from 900m x 500m to 600 x 450m. The fourth VTEM anomaly was attributed to local conductive cover with no basement sources identified.
- At Fiveways a single discrete VTEM anomaly was followed up. The FLEM survey confirmed a basement conductor modelled as a westerly dipping plate extending from 125 to 150m depth with dimensions of 200m x 200m.
These are terrific new copper targets in our growing pipeline of exploration opportunities within the Cobar region,” Mr Rosenstreich said.
“Quanda-Hermidale and Fiveways are located along a regional scale copper trend yet have never been drilled. I am surprised and very pleased with the ‘four out of five’ strike rate confirming airborne EM anomalies with the ground-based surveys.
“I was on site last week and the exploration team is very excited to be building up a significant inventory of copper targets across all our tenements. Their planning is progressing well, and the Company anticipates to be testing these prospects with the drill bit as early as August.
These new targets possess significant scale with overall levels of conductance that are subtle but distinctive. Given the history of copper discovery using electromagnetics within the region, the detection of an anomaly with ‘scale’ is the critical factor rather than the absolute conductivity and permits fairly straight forward drill testing.
“Having just completed the Canbelego Main Lode resource update4 our workflow is now focused on making new discoveries. I look forward to providing further updates as we continue to build up momentum on our inventory of targets and soon start to systematically drill test them.”
