Helix Resources Limited (ASX: HLX) has identifiednumerous intercepts with visible copper sulphide (chalcopyrite) mineralisation from its recent reverse-circulation (RC) programme, which is testing for new parallel lode positions at the Canbelego Joint Venture Project located in the Cobar region of NSW.
Last year we undertook the first drilling at Canbelego since 2013, in which we discovered thick, intense copper sulphide mineralisation,” Managing Director, Mike Rosenstreich, said.
“Assays confirmed the high-grade nature of these copper results and with detailed systematic geological work we have developed an understanding of the potential of our ground to host largescale, high-grade ‘Cobar-style’ deposits.
“The preliminary RC drilling outcomes we are reporting validate our ‘Cobar-style’ exploration model by demonstrating two, new, parallel mineralised zones to the west of the Canbelego Main Lode of approximately 100 metres north-south and that each remain open to the north.
“We and our Canbelego JV partner, Aeris Resources, are very encouraged by the increased potential we continue to unearth around Canbelego as we methodically work through the historic data in combination with our new results and interpretations.
“This approach is also highlighting the significance of regional prospects such as Caballero and Bijoux, which are two to ten kilometres southeast along the Rochford Trend, on 100% Helix tenure.
“We are gaining momentum with positive exploration results, and we believe this area holds tremendous potential to make more copper discoveries.
“Therefore, we plan to focus much of our work on this Western tenement block for the next three to six months, with further diamond drilling, surface and down-hole EM work and additional regional target testing and generation – to find more copper!”
The Canbelego Copper Project lies along the regional scale Rochford Copper Trend. It is a 70:30 ‘contributing’ JV (Helix 70% and manager, Aeris Resources Ltd.
In 2021, the JV drilled five diamond drillholes (CANDD001 to CANDD005) for nearly 2,000 metres around and beneath the Canbelego Mineral Resource or Main Lode, after an eight-year exploration hiatus. One diamond hole (CANDD006) was completed last month for 561.7 metres – which clearly highlights the open nature of the high-grade copper mineralisation.
To follow-up on the shallow mineralisation intersected to the west of the Main Lode in holes CANDD005 and -6, nine RC holes (CBLRC022 to 030) for 1,368 metres were completed in early February 2022. Two more diamond holes are planned, one of which is in progress testing northern extensions of the Main Lode.
