Helix Resources (ASX:HLX) has intersected a copper-mineralised structure during the drilling of two scout holes at the Canbelego Project in the Cobar-Nyngan region of New South Wales.
A combination of reverse circulation and diamond core drilling was completed to test a 625m-long undrilled induced polarisation (IP) chargeable anomaly located west of the existing Canbelego resource.
Helix says the area is considered “highly prospective” for additional Cobar-style parallel copper lodes.
A wide fault zone, up to 20m downhole width, was intersected at the target zone in both holes at about 250m below surface.
This new zone is more chargeable and larger than the anomaly associated with the Canbelego Main Lode.
Massive sulphide lodes were not observed in the scout holes, but Helix says the presence of Cobar-style copper mineralisation close to the Canbelego Main Lode deposit indicates it has drilled a key mineralised structure with potential to host a new copper lode.
Managing Director Kylie Prendergast says at this stage Helix does not believe the amount of mineralisation or alteration intersected sufficiently explains the cause of the modelled geophysical anomaly being targeted.
“The program is proceeding to plan, progressing from a surface IP geophysical survey, which identified a new target, to having now drilled a new copper-bearing structure,” she says.
“Now that we are getting down amongst it, we will update our 3D models, undertake further geophysics and use these results to optimise the next couple of drill holes.”
Helix plans to undertake a downhole geophysical survey of both holes and additional modelling to investigate further.
Meanwhile, exploration is continuing at the Eastern Group Tenements, also in NSW, where an auger infill program across three multi-kilometre gold geochemical anomalies has been completed.
The Canbelego Project is part of Helix’s Western Group Tenements.
Write to Angela East at Mining.com.au
Images: Helix Resources
