Helix Resources Limited (ASX: HLX) has intersected intersects copper sulphide mineralisation during a drill test of ‘high-order’ conductive target at the Canbelego Project in NSW.
Drilling has returned visible copper sulphide minerals in drill core over 14m (downhole in CANDD016C) from 594m. Whilst assays are pending, this mineralisation occurs in the Canbelego Main Lode position and is potentially continuous with significant copper intercepts approximately 200m higher in the mineralised shear.
A diamond drilling programme commenced in December 2022 to test the depth continuity of copper mineralisation within the Canbelego Main Lode Shear. A bold initiative to step down 200m below the level of any previous drill intercepts with two diamond core “parent’ holes created the platform for DHEM surveys and further daughter drill holes.
The DHEM surveys from both parent holes (CANDD015 and 16) each generated highly conductive geophysical targets interpreted as high-grade copper shoots. Following several attempts in challenging conditions for directional drilling, daughter-hole CANDD016C was completed after successfully testing the central portion of the conductive targets.
The target is represented by a 14m intersection of chalcopyrite veins and stringers and a 1.0m interval of semi- massive chalcopyrite.
Helix’s geologists have described the mineralisation as similar to that intersected in CANDD006 which yielded 5.3m at 3.3% Cu. The CANDD016C Main Lode intercept is approximately 185m below CANDD012, which returned 14.3m at 1.96% Cu from 417m, including 8.3m at 2.82% Cu.
There is no drilling between CANDD012 and CANDD016C in a zone which is occupied by EM conductor plates from the recent DHEM surveys. There appears to be ample scope for further copper mineralisation within this section of the Canbelego Main Lode Shear to contribute to an updated Mineral Resource estimate.
In light of this encouraging result, the drilling strategy is being reviewed in this area; additional drilling ahead of the new Mineral Resource estimate may push back the timing to enable more data to be included.
The modelled conductive plates have proven to be very accurate in predicting the position of the copper shoot with the actual intersection at 594m within metres of the predicted conductive target depth. DHEM surveys modelling of results is currently underway for hole CANDD015A and 16C to further resolve the conductive plates and guide further drilling.
We have hit copper mineralisation a long way below the base of the current 2010 Mineral Resource at 320 metres. It is nearly 200m ‘up-plunge’ to the next intercept in diamond hole-12 which hit 14.3m at 1.96% Cu, including 8.3m at 2.82% Cu,” Managing Director Mike Rosenstreich said.
“There appears to be ample scope to delineate significant additional contained copper tonnes in this area as well as further up and down plunge which remains untested. This will be a focus for our next drilling and could be very important for our updated Mineral Resource estimate at Canbelego – potentially impacting the exact timing.
“It’s an exciting time for the exploration team to have now verified this target as representing a copper-shoot within the overall shear structure in an area never drilled previously. The accuracy of the DHEM modelling by Southern Geoscience is very valuable for efficiently targeting the ongoing drill programme which can now be optimised for the drill conditions.”