Helix Resources Limited (ASX: HLX) has received positive assays from its ongoing copper exploration drilling at its Canbelego Joint Venture (JV) Project located in the Cobar region of NSW.
The company has received assays for two further diamond drill holes and one RC hole within the Canbelego Main Lode project area.
Highlights:
- ‘South Shoot’ infill and extensions to Mineral Resource identified:
- 16 metres (m) at 3.21% copper (Cu) from 117m downhole (CBLRC057) Incl. 11m at 4.58% Cu
- highest-grade copper intercept in the upper 150m of the Main Lode to date – confirms potential for high-grade copper mineralisation at shallower depths and remains open at depth and to the south
- 10.8m at 0.52% Cu from 153m downhole (CANDD013) Incl. 1.3m at 4.0% Cu
- Likely edge of shoot, indicates open at depth and to the south
- ‘North Shoot’ extensions below Mineral Resource outline identified:
- 14.3m at 1.96% Cu from 417m downhole (CANDD012) Incl. 8.3m at 2.82% Cu
- Bold, expansive diamond drilling underway at Canbelego Main Lode – testing 200m beneath currently known mineralisation to ‘map’ extent of copper lodes and establish downhole electromagnetic survey platform.
Last week Helix was excited to report results for extensive drill testing of early-stage copper targets and the identification of a new, emerging prospect, Caballero,” Managing Director, Mike Rosenstreich, said.
“This week, we are equally excited to deliver high-grade copper results from our advanced Canbelego Main Lode project which consists of wide intervals with high-grade, featuring two to nearly five percent copper assays.
“Results also included the highest-grade intercept to date in the upper 150 metres of the Main Lode, confirming the potential for high-grade copper mineralisation at shallower depths.
“These results are significant because they are extending known high-grade shoots and with new higher grades from infill drilling, both aspects potentially adding copper tonnes.
This has motivated us to drill deep and test our ‘Cobar model’ for major increments in copper potential by stepping out 200 metres.
“There is no doubt that if we are successful the results will have a major impact on how we and our stakeholders regard the scale potential at Canbelego. This drilling has just started and whilst we have some exceptionally wet weather to contend with I look forward to keeping you advised on our progress.”
Planned Canbelego Main Lode Drilling
The Company has commenced drilling two, bold, long diamond holes to test the Canbelego Main Lode system to a vertical depth of ~550m depth.
Current drill testing is to ~350-400m depth and the base of the current Mineral Resource4 estimate is to ~270m depth.
