Helix Resources Ltd (ASX:HLX) is drill testing a number of promising opportunities following recent target generation work aimed to make new copper discoveries in the Cobar-Nyngan area of central NSW.
Drilling has commenced at four new geophysical copper targets identified on the Collerina Trend at Fiveways and Quanda- Hermidale areas.
A diamond drillhole with a planned total depth of 250m is in progress at the Fiveways targets. On completion of the Collerina targets, the drill rig will move west to the Rochford Trend where further target generation activities have highlighted and upgraded the copper potential of Bijoux and continues to firm-up the potential of the Black Range target.
Throughout this year we have been reporting on a series of new targets emerging via our team’s systematic innovative geological work which are really starting to light-up opportunities for new copper discoveries,” Managing Director, Mike Rosenstreich, said.
“Last week we moved into an exciting new phase – drill testing of those targets starting with a diamond core hole at Fiveways.
“In addition, we also continue to generate and upgrade new targets and, in this report, re-prioritise and firm up targets ready for drilling. The Bijoux prospect has rocketed up our ranking list. We are now defining a large scale, high-tenor copper-silver-moly anomaly. Examining other geological features at Bijoux, we are struck by the similarities to the Canbelego Main Lode deposit nine km to the north along the Rochford Trend. That deposit hosts 32,000 tonnes of high-grade copper metal and remains open – so an exciting precedent for Bijoux which we are ‘queuing-up’ for drilling.
“The potential at Blank Range is also firming up as we find more extensive historical underground workings than previously recorded, in fact there was only one on the Mines Department database. We also have more positive infill geochemical results in this big, five-kilometre-long target zone – which has never been drilled. Black Range is also in our queue for this current drill programme.
“The Helix team is doing an excellent job of lining up prospective copper targets and now, testing them. I have just returned from an investor roadshow, and I know that there are many eyes on our story. Investors love that we have strong targets and the funds and ambition to drill them. I look forward to bringing further updates on this phase of our copper discovery programme.”
Infill and extensional auger and lag sampling remain in progress at the Rochford Trend and is expected to be completed in the next few weeks. The focus for the regional geochemical program will then shift to the Collerina Trend and the Muriel Tank project where sampling will continue for several months.
Mapping and rock chip sampling are in progress at Black Range and will commence shortly at Bijoux. This work will assist with drill planning, which is expected to commence at both prospects in December quarter.