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:
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.