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Colin Hay

Helix Resources (ASX:HLX) has hit a wide, mineralised fault zone in its drilling of the first two scout drillholes targeting a prospective IP anomaly at the company’s Canbelego copper project, located in the Cobar-Nyngan area of central NSW.

The Canbelego Joint Venture project is located within EL61053, part of Helix’s Western Group Tenements.

“We are pleased to have successfully intersected a large new structural zone with associated copper mineralisation coincident with the modelled target zone,” Managing Director, Dr Kylie Prendergast, said.

“At this stage, we do not believe the amount of mineralisation or alteration intersected sufficiently explains the cause of the modelled geophysical anomaly we were targeting.

“The programme is proceeding to plan, progressing from a surface IP geophysical survey, which identified a new target, to having now drilled a new copper-bearing structure. Now that we are getting down amongst it, we will update our 3-D models, undertake further geophysics and use these results to optimise the next couple of drill holes.

“It’s exciting exploration close to a known deposit, with ongoing encouraging results.”

Canbelego Western Geophysical Target

Helix recently commenced drilling an induced polarisation (IP) target northwest of the Canbelego copper deposit. A pole-dipole (PDIP) array was used for all lines, using 100m receiver dipoles, with 50m dipoles used on the northern most line.

The PDIP survey defined a NNW-trending Western chargeable anomaly with a strike length of 625m, which is more chargeable and larger than the anomaly associated with the Canbelego Main Lode.

Significantly, this anomaly is outside the previously drilled area, but within the surface copper geochemical anomaly.

The depth to the top of the chargeable zone was estimated to be approximately 130m (based on the 3D model) and strengthens to depth. Depth to the top of the anomaly is estimated to be slightly deeper in the 2D models and further review will be undertaken.

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