Helix Resources (ASX:HLX) has obtained further positive results in its search for new copper-gold deposits from the auger geochemical sampling programme in the Eastern Group tenements located approximately 40km southeast of Nyngan in central, NSW.
The Eastern Group Tenements cover approximately 1,570 sq, km of prospective copper trends and stratigraphy in the Girilambone Group, west and southwest of Nyngan. The northern boundary is 18km south, from Aeris Resources’ Tritton Copper operations.
The xompany has been undertaking regional-scale exploration in the Eastern Group aimed at new discoveries for some years. Work has comprised airborne and ground geophysics, auger geochemical sampling, geological prospecting, and reconnaissance rock chip sampling. The exploration program, subject to cropping and weather events, is ongoing, and this report provides an update on recent auger sampling assay results.
“The prospective corridor, we refer to as the Collerina Copper Trend, extends south from the Aeris copper tenements through Helix’s Eastern Group Tenements for over 100km of strike length,” Managing Director, Kylie Prendergast, said.
“The new auger results, which only test part of this corridor, continue to confirm this is a major prospective zone with signatures indicative of copper-gold mineralisation such as those occurring at Aeris’ Tritton Copper Operations - which have been producing 20-30ktpa of copper plus gold for the past 30 years.
“The auger programmes have been highly effective at identifying new target areas, enabling Helix to zero-in on the strongest signatures for new copper gold discoveries. New targets can be rapidly advanced in the Helix pipeline to drill-ready by undertaking infill auger programmes, analysing the geochemical signatures and in areas of deeper cover, aircore drilling.
“Over the past six months, Helix has 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.”
Next Steps
Over 600 auger sample results are still pending at the laboratory, including infill sampling from the Alderbaran and Max’s Folly areas. These results are expected in mid- to late-July.
Infill auger sampling to define drill targets in Au anomalous zones at Widgelands, Honeybugle, Iowaba and Tarawera after pending results are received.
Aircore drilling is also planned to follow up Au auger anomalies where they extend into deeper cover areas, where auger drilling will be ineffective.
All anomalies and targets emerging from this work will be assessed, and the top-ranked targets will be followed up with drilling as soon as practical.
