Helix Resources Limited (ASX: HLX) has drilled further significant intercepts of copper mineralisation and further defined the north and south shoot positions 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 the results of three DHEM surveys – all designed to test for extensions of the North and South shoots defined within the Canbelego Main Lode.
Helix has been exceptionally active undertaking a major exploration campaign consisting of more than 50 diamond and reverse circulation drill holes plus regional scale auger drilling,” Managing Director, Mike Rosenstreich, said.
“These latest results, which combined assays, observed copper-sulphides and downhole geophysics are encouraging and support our interpretation that the copper mineralisation has potential to extend well beyond the current outline of the 2010 Mineral Resource estimate/
“We will now undertake a full review of the Canbelego Main Lode results, in particular focussing on the high-grade shoot components and their potential to continue or to repeat.
“ I think the history at both Aeris’ Tritton deposits, and the Glencore CSA Mine at Cobar show these high-grade copper systems can persist and ‘bloom’ with deep vertical depth extents which we must assess properly with good geology and modern geophysics.”
The drilling programme at Canbelego Main Lode continues to confirm continuity of mineralised structures with copper mineralisation intersected in drill holes at the predicted lode positions.
The assay and visual results for holes CANDD002, CANDD010 and CANDD012, confirm continuity of significant copper grade within the North Shoot position of the Main Lode, well beyond the existing resource shell, which remains open at depth.
A better understanding on the controls of the higher-grade core zones to the shoot positions within the Main Lode is still being progressed.
Significant, but lower grade copper intercepts are reported from CANDD010 and CAND011.
Visual results of observed copper mineralisation (chalcopyrite) in the last two diamond holes of that program (CANDD012 and CANDD013) are also reported which support further extension of the respective shoots, with assays are pending and expected in mid-September.
DHEM surveys have also been undertaken on three diamond drill holes, (CANDD007, CANDD009 and CANDD013).
Modelling of the results indicate that low, moderate and strong off-hole conductors are present providing encouragement to continue testing down plunge for extensions of the intersected high-grade core zones of the respective lode positions.
Concurrently, Helix is continuing its reverse circulation drilling program in the greater Canbelego and Caballero prospect areas with 21 drill holes completed to date and 3,000 samples submitted for assay – with results expected to start flowing in mid-September.