Helix Resources Limited (ASX: HLX) is preparing to kick-off a regional scale auger geochemical sampling programme in NSW.
The objective is to rapidly evaluate numerous historical and early-stage targets to identify and advance new copper prospects to add to its existing Mineral Resource inventory at its copper projects located in the Cobar region of NSW.
Having secured a strong funding position in May 2022 and built up its Orange based exploration team the company is now aggressively widening its regional scale exploration activities to maximise its potential for a major copper discovery.
These additional activities include the new geochemical auger program, additional airborne geophysical surveys and reprocessing of existing large data sets, regional structural mapping and interpretation.
Concurrently, Helix is continuing an active ongoing reverse-circulation (RC) and diamond drilling programs on more advanced targets. These regional scale exploration initiatives are designed to generate additional advanced targets to increase the level of drilling activity to deliver significant growth of the existing copper resource base.
The company has over 240 km strike of prospective copper trends with numerous poorly tested historical workings, anomalous drill intercepts and geophysical targets,” Managing Director, Mike Rosenstreich, said.
“This large-scale exploration is a bold ambitious step which will allow Helix to leverage this prospective ground to yield even more discoveries.
“Underpinned by good geology, effective modern scientific techniques, and a skilled team, we have commenced a series of large-scale regional work programs such as this geochemical sampling program so that we can screen more ground and advance new targets to accelerate the discovery of large-scale copper deposits.”
Next Steps
Auger drilling will commence imminently and to be ongoing for the next 9-12 months with 1 to 2 rigs active at any one time. The timing of areas to test will be dictated by land access matters such as weather and cropping activities. Therefore, the initial auger programme will commence on the Western Tenement group areas where the land use is predominantly open range grazing compared to the cropping intensive activities in the east.
Helix has capacity and the ability to rapidly follow up (subject to land access and approvals from NSW Resources) to tighten up sample spacing to define copper targets for drill testing – with either / or a combination of geophysics, infill auger or scout RC drilling.
