Helix Resources (ASX:HLX) is continuing to hit home runs in the Rochford Copper Trend with a large-scale drilling program scheduled at the Widgelands, Aldebaran, and Max’s Folly prospects.
On 8 February 2024 this news service reported the $8.13 million market capitalisation company has been setting the foundations for a 15,000m to 25,000m drilling program designed to ‘drill or kill’ prospective targets uncovered across its Eastern and Western Group tenements in the Cobar-Nyngan region.
Helix today (20 February 2024) announces the Widgelands, Aldebaran, and Max’s Folly prospects have now been fast-tracked for drilling as part of its quest to keep hitting home runs.
Auger drilling will continue in the Eastern Group into the next quarter, where 2 auger rigs are currently operating.
Helix is proposing to collect several thousand new samples along the Collerina Trend.
Results for 262 samples are currently pending. The samples extend the auger coverage in the area southwest of the CZ prospect. Auger sampling is currently in progress in the Widgelands area, where about 400 samples have been collected to date.
Further, 1,541 gold assays are pending for the Eastern Group auger samples, with those results expected in March to April 2024.
Helix Resources Executive Technical Director Dr Kylie Prendergast says Helix is working to establish a pipeline of “very encouraging” targets which have potential to deliver a “major” copper-gold discovery.
“The Helix team are utilising a number of advanced exploration techniques across our tenements, allowing the company to paint a much more refined picture of the high-grade copper-gold potential in the very prospective Collerina Trend.
It is always exciting when multi-layered datasets highlight the potential of a target. In this case, a newly identified, large-scale pathfinder (antimony and arsenic) auger anomaly aligned with a major regional structural position. This discovery is further supported by the identification of initial high-grade copper and gold results in rock chips from 3 target areas.
We are very active on our large, strategic land position in the highly endowed, Cobar copper-gold region.”
One of the anomalies being assessed in the current program is a ‘large-scale’, 10km by 2km open pathfinder geochemical anomaly of antimony with anomalous arsenic. It was flagged through auger sampling and correlates with gold-rich targets at Max’s Folly and Aldebaran, as well as the Widgelands copper target.
Aldebaran and Widgelands have not been drilled before and anomalous gold results from Max’s Folly have not been followed up.
Helix Resources is an ‘all-in on copper’ explorer operating in the prolific copper producing region of Cobar, New South Wales. The company’s strategy is to generate new copper targets on its ‘large’, underexplored ground position and test them through drilling to make new discoveries.
As of December 2023, Helix Resources had $3.011 million cash and cash equivalents at hand, according to its latest quarterly report.
Write to Adam Drought at Mining.com.au
Images: Helix Resources
