Helix Resources Limited (ASX: HLX) has drilled further promising copper intersections with its activities at the Canbelego Copper Project located southeast of Cobar in central NSW, Australia.
Testing the ‘Upper Canbelego Main Lode’ with a modest RC drilling programme has successfully mapped out a high- grade copper zone from near surface to over 120m down-dip. Copper sulphides observed over nearly 22m downhole in diamond drill core appears to have further extended that trend by another 40m, and it remains open at depth.
Initial estimates of the true thickness of these mineralised zones is between 15 to 20m.
Additional potential is highlighted by a very shallow, high-grade intercept of 25m at 1.87% Cu, which includes 5m at 5.35% Cu and 2m at 6.42% Cu – which is open to the south for 130m toward the historical underground workings.
Deeper diamond drilling to test high-grade copper shoots identified by downhole electromagnetic (DHEM) surveys is ongoing. The objective is to follow up on the 14m intercept of copper sulphides from the first successful drill test of the conductive DHEM targets.
Reverse circulation (RC) drill follow-up assay highlights include:
- 6m at 4.72% Cu from 103m within 10m at 3.02% Cu from 100m (CBLRC062)
- 4m at 3.27% Cu from 70m within 10m at 1.58% Cu from 68m (CBLRC063)
- 3m at 2.45% Cu from 78m within 23m at 0.75% Cu from 62m (CBLRC058)
- 9m at 1.3% Cu from 108m within 16m at 0.9% Cu from 108m (CBLRC059)
These new copper intervals from the RC drilling confirm the extension of shallow high-grade copper zone identified in October last year; 16m at 3.2% Cu,” Managing Director, Mike Rosenstreich, said.
“Reviewing the drill cross-section and including the visual copper mineralisation in diamond hole 17 – this zone looks to extend from almost surface to over 150m down dip and remains open at depth.
“Furthermore – one of the very shallow intercepts, just 13m beneath surface with 5m at 5.4% Cu within 25m at 1.9% Cu is open to the south for 130m to the historical underground workings.
“These results are highly encouraging for increasing the copper grade in this area compared to the current mineral resource estimated in 2010 – which should add copper tonnes to our inventory. The Helix team is well prepared for the Mineral Resource update with consultants engaged and it’s really just a matter of when we have sufficiently tested these ‘easy’ extensions which could add significant copper tonnes. Our schedule for that resource estimate is completion before the end of the June quarter.”
