Helix Resources (ASX:HLX) confirms the Collerina Copper Trend in New South Wales is a major prospective zone, after receiving more than 600 auger sample assays from the Eastern Group Tenements.
Geochemical infill results confirmed the tenor and scale of pathfinder element anomalies uncovered at several targets.
Helix, which has a market capitalisation of $8.16 million, report several assays returned more than 20 parts per billion (ppb) gold, with peak values of 187ppb gold, 39ppb gold, and 44ppb gold at Max’s Folly, Alderbaran, and Gwinear targets, respectively.
Several gold anomalies were also defined at the Tarawera and Iowaba targets, returning more than 20ppb gold assays, with peak values of 37ppb gold.
Managing Director Kylie Prendergast says the auger infill programs continue confirming there are “significant” geochemical anomalies along the prospective corridor referred to as the Collerina Trend.
“The results demonstrate this is a major prospective zone and the signatures we are observing in the data are consistent with signatures for Tritton-style copper-gold deposits,” Prendergast says.
“Helix is working proactively around crop and weather constraints to progress programs in all accessible areas, bringing targets to a drill-ready stage as efficiently as possible. There are also several large areas along the prospective trend which are proposed for aircore drilling as they are essentially unexplored, given airborne versatile time-domain electromagnetic geophysics may not have tested through the alluvial clays.
“Helix is focused on advancing several priority targets in its people which we believe have potential to deliver a new copper-gold discovery in the highly endowed Cobar region close to established operations and processing facilities.”
Results from 45 auger samples at Iowaba are pending and expected early this month.
An infill and extension auger sampling program will be conducted to define drill targets in anomalous zones at Iowaba and Tarawera in non-cropped areas after pending results are received.
Meanwhile, infill auger sampling is in progress at Bijoux and the Rochford Trend. Results are expected in late August to early September.
An aircore drilling program is planned to follow-up auger anomalies where they extend into deeper cover areas, where auger drilling will be ineffective.
All anomalies and targets emerging from these activities will be assessed and ranked for follow-up drilling.
Helix Resources is a mineral explorer focused on making discoveries in the prolific copper producing region of Cobar, New South Wales.
Write to Aaliyah Rogan at Mining.com.au
Images: Helix Resources
