Helix Resources Limited (ASX: HLX) has accelerated its ongoing copper exploration drilling at its Canbelego Joint Venture (JV) Project located in the Cobar region of NSW.
The company has recently commenced a bold drilling campaign at the Canbelego Main Lode project designed to definitively test the down-plunge continuity of high-grade copper shoots by ‘stepping-out’ 200m below the current deepest copper intercepts. As well, assays for 11 reverse-circulation (RC) holes in Canbelego West Lodes, Main Lode, Shango and Caballero were also received and reported herein.
To accelerate the testing for high-grade copper down plunge at Canbelego Main Lode the company has contracted a second drill rig which just commenced hole CANDD016. This is the second of the two deep diamond drill holes designed to test for high-grade copper down to approximately 550m vertical depth. The two holes are designed to test the plunge direction (south or north) of the Canbelego Main Lode and cover a 200m strike extent in the Main Lode structure.
The two ‘Parent’ diamond drill holes will not only target the mineralised zones but provide important platforms to significantly increase the downhole electromagnetic (DHEM) coverage which is vital for detecting copper shoots or identifying a ‘near-miss’ and vectoring follow-up drilling toward conductive, copper targets.
Subject to these results, the ‘Parent’ holes can also be utilised to ‘wedge-off’ daughter holes to rapidly and more cost effectively test whatever mineralisation and/or geophysical targets are generated.
Drilling production will also be accelerated with double-shifts commencing from the 17 November on the second rig.
New assays and DHEM data were received for the West Lode – CBW2 position which indicates the potential of a Canbelego Main Lode ‘look-alike’ – certainly requiring further follow-up work.
The Canbelego Main Lode is an advanced exploration project where high-grade copper shoots have already been intersected and it is very exciting to now have two diamond drill rigs on hand to test the continuity over such a significant vertical extent. This is ‘high-impact’ exploration for our shareholders, and we will be well positioned to rapidly follow-up on positive results with these deep drill platforms,” Managing Director Mike Rosenstreich said.
“It’s a credit to the exploration team that we have increased our drill capacity when many companies in the region have been forced to abandon drill programs due to the very wet weather and ground conditions. We have also lost drill shifts and had to curtail many regional exploration activities, so to be able to now accelerate work on our most advanced project is very pleasing and gives our shareholders some very exciting news flow over the coming weeks. “However, I would also like to acknowledge the tough circumstances which the local community has been facing from drought to now excessive rain affecting harvest yields and viability – our thoughts are certainly with them.”
