Helix Resources (ASX: HLX) has reported shallow, ‘high-grade’ copper hits from RC drilling at its Collerina Project near Cobar, NSW.
Results from around the Central Zone (CZ) mineral resource, which sits along the 60km Collerina Copper Trend, come from three RC drill holes within the oxide zone and include a number of ‘thick’ intercepts including:
- 25m @ 0.94% Cu from 20m; including
- 7m @ 2.64% Cu & 1.18 g/t Au
- 30m @ 0.86% Cu from 14m; including
- 7m @ 2.83% Cu
- 8m @ 1.17% Cu from 32m; including
- 3m @ 2.74% Cu
Helix reports that the newly-identified oxide copper zone runs for over 100m and remains open to the southeast.
Speaking on the result, Helix Resources Managing Director Mike Rosenstreich said: “We are approaching our drilling campaigns with an open-mind in terms of the geological controls on the mineralisation and succeeding in identifying new extensions to the known mineralised outlines. Three solid hits! Each shallow, with excellent copper grades – peak assay of 16% copper, and some associated with gold. There is scale potential to this with over 100 metres defined to date and the zone is open to the southeast.”
“We are approaching our drilling campaigns with an open-mind in terms of the geological controls on the mineralisation and succeeding in identifying new extensions to the known mineralised outlines”
Helix believes that historical RC holes in the area were under-sampled, leading to optimisation and extension potential for shallow oxide mineralisation.
The 1,300km² Collerina Project is described by the company as ‘highly prospective’ for copper-gold mineralisation, sitting within the renowned Cobar Basin approximately 100km east of the town of Cobar.
Long section displaying new shallow oxide zone (highlighted in red)The CZ mineral resource, discovered in 2016, is Helix’s flagship target at Collerina and is within close proximity of a series of base metals and gold operations including Tritton (Aeris Resources), Hera & Peak (Aurelia Metals) and CSA (Glencore Australia), one of Australia’s high-grade copper mines.
The company reports that it is planning quick follow-up drilling in a bid to properly define the newly-discovered zone, which it believes will increase its shallow oxide mineral resource for CZ.
Images: Helix Resources Limited
