Helix Resources Limited (ASX: HLX) has confirmed that a High Powered Electromagnetics Pty Ltd (HPEM) surface geophysical survey has commenced at its large NSW base metal project holdings.
The survey is following up high priority electromagnetic (EM) anomalies identified by an airborne EM survey completed in 2021.
Regional exploration, hunting for new copper deposits has always been part of the Helix strategy since I took this role in January 2021. New discoveries, particularly for a highly focused company like ours, generates tremendous value for shareholders when they do happen,” Managing Director, Mike Rosenstreic, said.
“But they only ‘happen’ if you have the funds, the ground and the team; we have all three! We are methodically applying new technology and the impact is like brightly illuminating a dark room for the first time in our ability to ‘see’ the geology and detect mineralisation in difficult covered terrains such as at Collerina.
“Now, after a long period of weather-related delays, access is available and we are not wasting any time to test these anomalies. Interestingly, Russell Mortimer, our Geophysical Consultant also worked on the EM survey which discovered Aeris Resources’ Constellation deposit north of us and he remarked on the similarity of that anomaly to our Quanda anomaly.
“It is very satisfying to see our regional work here and at Rochford gaining momentum and generating positive results. I look forward to providing further updates across a range of activities covering many targets hunting for new copper deposits.”
Helix’s 100% owned Exploration Licences cover approximately 150km of the prospective ‘Collerina and Quanda Copper Trends’.
Both trends extend to the north and host the various copper mines, deposits and prospects around which Aeris Resources Ltd.’s Tritton Operations is focused.
Electromagnetic surveys are a proven discovery tool in the area; most recently Aeris’ Constellation deposit was discovered by airborne EM. It was followed up by ground geophysics and subsequently drilling to outline the current ‘open’ Mineral Resource estimate of 6.7 million tonnes at 1.9% copper (Cu) and 0.6 g/t gold (Au).
Constellation lies 60km to the north along interpreted extensions of the Collerina Copper Trend from Helix’s tenements. This work will be the most significant early-stage exploration work undertaken on the Collerina Copper Trend in nearly two years due to weather and associated cropping related access issues.
In early 2021, Helix undertook an airborne EM survey covering the three main mineralised trends on its tenure. To that time only 20% of Helix’s copper trends had EM coverage, namely just a small portion of the Collerina Copper trend around the Central Zone (CZ) mineralisation.
To undertake effective assessment of the 120km ‘strike’ extent of mineralised trends a regional scale airborne EM survey was regarded as a “proven discovery tool” for the style of copper mineralisation being targeted.
The survey was completed in February 2021 and results reported in March4. Subsequent target generation work and anomaly assessment on the Collerina Trend has identified 10 high-priority targets beyond CZ for follow-up work.
These results prompted Helix to expand its tenement holding to the west to cover the interpreted position of the Quanda Trend and to ensure tenement coverage over EM anomalies on the former western boundary. Geophysical consultant Russell Mortimer from Southern Geoscience Consultants assisted in the planning and the interpretation of the 2021 survey results.
Of the 10 anomalies identified at the Collerina Trend, two were regarded as particularly significant; Quanda-Hermidale and Fiveways, plus several others which could be possible extensions of the CZ mineralisation.
Saline ground water conditions and ‘iron-rich’ cover affect some portions of the Collerina Trend tenements, in particular the central area around the CZ mineralisation. This is challenging to ‘see-through’ when applying electromagnetics. This has been recognised and considered when prioritising the target anomalies.
With ground-based follow-up not possible in 2021 and 2022, Helix engaged Mitre Geophysics to review the airborne EM data and to prioritise the targets to test first.
Mitre’s work supported testing the Quanda-Hermidale and the Fiveways EM anomalies as high priority.
A similar approach was adopted for the EM data from Rochford and Meryula Trends – assisting Helix to prioritise additional anomalies for follow-up.
Ground based ‘fixed-loop’ EM (FLEM) surveys were designed by Russell Mortimer, and are being undertaken by HPEM.
Mr Rosenstreich said the commencement of this initial ground geophysical survey is another component of Helix’s ongoing multi- faceted regional exploration program designed to make new copper discoveries. The Company is well funded and has an experienced locally based exploration team to continue this work.