Helix Resources Limited (ASX: HLX) (“Helix” or “the Company”) is pleased to provide an update on its ongoing copper exploration program, drill testing several early-stage targets along the Rochford Trend southeast of Cobar, NSW.
This reverse-circulation (RC) drilling program commenced in early-July and was completed in mid-September. A total of 27 RC holes were completed for 4,275 metres (m) and assays have been received for 15 holes, with results for the remaining 12 holes pending.
The targets tested comprised the newly identified mineralised ‘lode’ positions to the west of the Canbelego Main Lode, the new Shango target and the Caballero prospect which had not been drilled since scout RC drilling in 2013.
Commenting on the current drill results, Helix Managing Director, Mike Rosenstreich said:
“These results indicate we have identified a significant copper-mineralised system at Caballero – the scale and intensity of the alteration zone in the diamond hole, supported by highly anomalous copper assays in the RC hole are very encouraging.
The team is excited about these early-stage results at Caballero, and we will reassess our priorities and ongoing work program, as we think persistence could pay-off around the West Lodes mineralisation.
It has been an interrupted process with weather related access issues and queues in the assay lab. Nonetheless, we are already preparing for the follow-up campaign, including additional drilling at Caballero, a program of ‘bold’ deep holes we have planned at Canbelego Main Lode to test for depth extension as well as our ongoing regional target generation work. We remain focussed on testing and turnover of targets and reprioritising the best for follow up work.”
The results at Caballero, comprising of significant copper assays and visual copper mineralisation ‘down-dip’ in the follow-up diamond core hole, are very exciting for the potential discovery of a new copper deposit. Caballero is a wide zone with intense alteration and deformation, 2.5km south along ‘trend’ from the Canbelego Main Lode within the Rochford Copper Trend.
Additionally, the results at Canbelego West 2 Lode outline a highly anomalous copper zone and warrant follow-up work.
The drill rig has now mobilised to Canbelego Main Lode to undertake large ‘step-out’ drill holes testing the depth potential of the Main Lode. Follow-up of the RC program includes receipt of the 2,291 pending assays and ongoing surface and downhole geophysics ahead of further follow-up drilling with Caballero a clear priority focus as well as new emerging regional targets.