Helix Resources Limited (ASX: HLX) has applied for a new 585 sq. km Exploration Licence (EL) prospective for copper discoveries located along strike from the company’s Collerina Copper Trend in NSW.
The trend includes the advanced CZ Project as well as the large-scale copper mines at Aeris Resources’ Tritton Operations, in the Cobar-Nyngan copper region of NSW.
New regional scale targeting work has highlighted the strategic importance of the tenure to the Company’s quest to make new copper discoveries.
Helix has utilised reprocessed geophysical data and regional scale geological mapping to identify geological features related to mineralisation which are generally obscured due to the thick monotonous rock sequences with little ‘geophysical contrast’ and scarcity of outcrop in the region and hence very little effective exploration.
This work has added vital detail to the interpretation of the regional geology, including the sequences and structures associated with mineralisation throughout the recognised copper-bearing trend. Specific ‘signatures’ were recognised within the prospective host sequence to the copper deposits including the recently acquired northern tenure, the ground currently being mined by Aeris Resources at Tritton and extending south to Helix’s Collerina project.
These findings are also being applied to Helix’s existing 2,300km2 of tenure to identify new copper (and gold) targets. On grant of the ELA, expected in several months, the company will have a total of 2,900 sq. km of prospective tenure in the greater Cobar region of central NSW.
This regional exploration work is focused on making new copper discoveries – and we do that by understanding the geological setting of the known deposits,” Managing Director, Mike Rosenstreich, said.
“The rocks which host our eastern tenements are referred to as the Girilambone Group – a thick monotonous sequence in which it can be difficult to identify rock types or structures. This makes it very challenging to characterise the geological setting for copper deposits and they are much less explored.
“Therefore, over the past 12 months we have put boots on the ground and applied the latest geophysical processing techniques to build up a detailed geological model to identify key areas prospective for mineralisation. This proprietary copper signature has led us to peg a major new tenement and is enhancing the targeting work on our existing ground. With benign weather and improved land access we are building momentum, lining up new targets for drill testing while work continues on an updated Resource statement for the Canbelego Main Lode, which is anticipated prior to the end of the financial year.”
Helix’s interpretation work has identified some of these associations occurring approximately 60km north of the Constellation Deposit. The ground was open, and Helix applied for 585 sq. km tenement to cover this extension of the prospective sequence (ELA 6614).
The ELA covers thick quartzite units which are exposed at the northern end of the AOI, within a series of closely associated magnetic highs, similar to the Tritton area.