Helix Resources (ASX:HLX) has mapped a new 2km copper zone at its Bijoux prospect along the Rochford Copper Trend in New South Wales.
The discovery follows a number of geophysical surveys which flagged several gradient array induced polarisation (GAIP) conductive units, and is thought to be coincident with both surface copper anomalies and recent drilling results.
The conductive units identified can be traced for a strike length of over 4km, and are open to the north and south.
Previous drilling work at Bijoux, which Helix says intersected copper oxide and sulphides, only tested a small, 200m portion of the 2km anomaly. The majority of the anomaly remains undrilled.
The mapping of the new zone comes at a time of strength for copper, with the price surging last week to its highest point since late-January 2023 at over US$9,400 ($14,404) per tonne.
Today, copper has continued its upwards trend, sitting at just shy of US$9,500 per tonne, according to Markets Insider.
Executive Technical Director Kylie Prendergast says Helix will move to pole-dipole geophysics to identify chargeability zones that could represent new sulphide copper lodes to drill test.
“At Bijoux, we have high confidence that the geophysical surveys are an effective tool to focus in on the mineralised structures that contain the copper,” Predergast says.
“Helix is actively testing three separate compelling copper targets at Canbelego, Cabellero and now Bijoux with IP geophysics to detect new potential lodes of copper sulphide mineralisation. The momentum and results to date underpin Helix’s efforts to expand its copper inventory beyond the known copper resource at the Canbelego Main Lode.
The programs are progressing at a rapid pace, and we expect to have delineated drill targets by late April/early May for the proposed May drill program. Helix has a large pipeline of quality copper and gold targets across our Western and Eastern tenement groups that we are systematically advancing.”
As of December 2023, Helix had just over $3 million in cash and cash equivalents at hand, according to its latest half-year report.
Write to Adam Drought at Mining.com.au
Images: Helix Resources
