Helix Resources Limited’s (ASX: HLX) diamond drill hole CANDD006 has intersected visible copper sulphide mineralisation at the Canbelego Main Zone target position near Cobar in NSW.
The zone lies approximately 50 metres down dip from the high-grade intercept of 18m at 3.4% Cu intersected in May, 2021 (included 14 metres at 4.22% Cu).
The Main Zone intercept occurs from 405 to 434 metres comprising mainly incipient veins and disseminated chalcopyrite (CuFeS2 – copper sulphide mineral) and includes approximately 1.3 metres of massive to semi-massive chalcopyrite from 425.2 metres.
Several intervals of mineralisation were observed higher in the hole which support the interpretation of parallel lode positions to the west of the Main Zone:
- from 80 metres a 20-metre interval of oxide copper minerals, malachite and possibly chalcocite; and
- between 100 to 200 metres downhole – several zones with scattered chalcopyrite veins, some associated with narrow quartz-breccia and quartz veins, including two observations of high-tenor copper mineral, Bornite (Cu5FeS4) with coarse grained chalcopyrite in sugary quartz.
A 12 to 15 hole RC drill programme has commenced to test for parallel lode positions to the south-west. VTEM and soil geochemistry also indicate potential for new lodes to the north-east, but with denser vegetation cover further target definition work is planned here prior to clearing access for drilling.
Helix Managing Director Mike Rosenstreich said Cobar style copper deposits commonly present as a series of structurally controlled, parallel lodes. Helix is developing its exploration strategy around a Cobar deposit model.
This is an encouraging start to the resumption of drilling at Canbelego. We have done a lot of work to understand the prospect scale geology and controls on the copper mineralisation – including how to target some of the higher grade, massive copper-sulphide shoots such as we hit in May last year, 18 metres at 3.4% copper,” Mr Rostreich said.
“It’s still very early days but we are also very interested to test the concept of repeat lodes which is typical for the ’Cobar Style’ of copper deposits, which are often blind at surface or have small footprints but can extend for up to several thousand metres vertically.
“The mineralisation we observed higher in the hole may correlate with anomalous copper mineralised zones hit at shallow levels in drill hole 5 last year. This fits with an observed trend in some other historical drill holes in the project area and has helped develop our emerging parallel lode target concept.
“We have just commenced RC-drilling at Canbelego to test some shallow mineralised positions at the Main Zone as well as these possible new, parallel lode positions to the west.”
