Helix Resources (ASX:HLX) has begun drill testing 4 new geophysical copper targets on the Collerina Trend within the Cobar-Nyngan area of Central New South Wales, Australia.
It comes even as the company continues its ongoing, ‘aggressive’ target generation work aimed at making new copper discoveries within the area.
Helix, which has a market capitalisation of $12.77 million, says a diamond drillhole planned for an initial 250m depth is in progress at the Fiveways targets. Other holes will test the Quanda-Hermidale areas.
On completion of these 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 the Bijoux prospect and firmed up the potential of the Black Range target.
Meanwhile, infill and extension auger and lag sampling is in progress at the Rochford Trend and is anticipated to be completed in the next few weeks. Helix’s focus will then shift to the Collerina Trend and the Muriel Tank Project, where sampling will proceed for several months.
In addition, mapping and rockchip sampling are in progress at the Black Range and will start shortly at Bijoux. This work will support drill planning, which Helix expects to begin in December 2023.
Commenting on the target generation work, Helix Resources Managing Director Mike Rosenstreich says: “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.
“Last week, we moved into an exciting new phase — drill testing of those targets, starting with a diamond core hole at Fiveways“
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.
The potential at Black 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.”
Rosenstreich says the company looks forward to bringing further updates on this phase of its copper discovery.
Helix Resources is an exploration company focused on its copper portfolio in the prolific copper-producing region of Cobar in New South Wales. As of 30 June 2023, the company had $5.9 million cash at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Helix Resources