Helix refining targets amid new discovery 

Helix Resources’ (ASX:HLX) is making progress with gradient induced polarisation surveys at its Canbelego and Bijoux areas in the Rochford Copper Trend in central New South Wales. 

The $11.61 million market capitalisation company says these surveys will refine targets for future drill testing, with results expected for late-March.  

Once in hand, Helix says it will plan additional infill and extensional auger drilling as results are processed. 

Helix currently has 2 auger rigs operating in the Eastern Group Tenements and sampling is currently in progress north of Widgelands. 

The company today (19 March 2024) reports that its upcoming major 15,000m to 25,000m drilling program across its tenements has been delayed until April-May 2024. 

Helix will take the time to assess new and emerging targets following the discovery of 2 ‘broad’ areas of anomalous gold up to 5km long from a wide-spaced auger geochemical sampling program within Helix’s Eastern Group Tenements. 

Multiple occurrences of ‘significant’ gold in auger are present with maximum values up to 100 parts per billion, and gold anomalies, coincident with recently reported rock chips of 8.95 grams per tonne gold, have been flagged at Aldebaran and Max’s Folly. 

Sampling has also further extended a pathfinder antimony-arsenic anomaly which now extends over an 11km by 4km zone and remains open in 2 directions. 

Given the ‘large-scale’ of the pathfinder footprint, a ‘large’ hydrothermal mineralisation system with gold and copper potential is interpreted to be present and remains open to the west and south. 

Executive Technical Director Dr Kylie Prendergast says: “Our latest batch of results have identified extensive gold anomalies which are accompanied by a large-scale antimony-arsenic anomaly Arsenic and antimony are known pathfinders to copper-gold mineralisation in the Cobar district. 

The scale of the anomalies, which are still open in two directions, adds further copper-gold discovery potential within this newly identified zone, located only 60km south of Aeris Resources’ (ASX:AIS) Tritton copper operations. 

The ongoing low-cost, auger sampling programs are a lynchpin in our copper-gold discovery strategy and have been highly effective at rapidly delineating and ranking new targets. 

For the next month we are focused on new geophysical surveys to optimise precious drill metres leading us to defer the planned drill program to late April/May to ensure we hit the best targets. 

Helix has a robust pipeline of copper-gold targets which have the potential to deliver a major copper-gold discovery in the highly endowed, Cobar copper-gold region close to established operations and processing facilities.” 

The Eastern Tenements cover about 1,570km-square of copper-gold prospective stratigraphy in the Girilambone Group, west and southwest of Nyngan. 

Helix Resources is an ‘all-in on copper’ explorer operating in the prolific copper producing region of Cobar, New South Wales, focused on generating new copper targets on its ‘large’, underexplored ground position and test them through drilling to make new discoveries. 

As of December 2023, the company had $3.11 million cash and cash equivalents at hand, according to its latest half yearly report and accounts.

Write to Adam Drought at Mining.com.au

Images: Helix Resources
Author Image
Written By Adam Drought
Born and raised in the UK, Adam is a sports fanatic with an interest in Rugby League and UFC/MMA. When not training in Muay Thai and Brazilian Jiu Jitsu, Adam attends Griffith University where he is completing his final year of a Communication & Journalism degree.