Helix Resources (ASX:HLX) reports Mitchell Services (ASX:MSV) has mobilised a reverse circulation (RC) rig to the Canbelego Copper Project in New South Wales and started drilling today (17 January).
A program of about 1,000m comprising 6-8 holes is designed to infill shallow copper mineralisation ahead of an updated Mineral Resource Estimate (MRE) planned for late March 2023. The current inferred MRE for the project was defined in October 2010, and currently stands at 1.5 million tonnes (Mt) @ 1.2% Cu.
Results from late 2022 such as CBLRC057 intersecting 16m at 3.21% Cu from 117m downhole (including 11m @ 4.58% Cu) highlighted possible extensions of high-grade copper mineralisation at shallow levels, which this drilling plans to infill.
Speaking on the drilling campaign, Helix Resources Managing Director Mike Rosenstreich says: “It’s great to start the year on site with the exploration team and two rigs testing the Canbelego Lode at these different levels – the RC drill infilling the shallow gaps and the diamond rig testing the highly conductive anomalies we discovered recently at depth.
We are hoping to intersect high-grade copper shoots with the deeper diamond drilling – they are very strong geophysical anomalies unlike anything we have recorded previously. Preliminary, visual results should be available in late January.
“We are hoping to intersect high-grade copper shoots with the deeper diamond drilling – they are very strong geophysical anomalies unlike anything we have recorded previously”
The ‘near-miss’ drill outcome we reported recently highlights the unpredictable ground conditions where we haven’t drilled before and the requirement for sophisticated, highly technical directional drilling technology.
We are fortunate to have geologists and drill operators who are highly experienced in this very specialised drilling activity. The large scale and highly prospective nature of these targets remains the same. We look forward to reporting on the drilling outcomes as soon as possible.”
Helix also notes that it has resumed progress on its deeper diamond drilling (DD) program, which is being conducted to test ‘highly conductive’ geophysical targets situated within the Canbelego Main Lode, and reported by the company in December 2022. Results from the deeper diamond drilling are expected to be received in January this year.
Helix Resources is an ASX-listed, copper-focused exploration company that is actively exploring its sizeable, and largely untested ground position across 2 tenement groups within the prolific copper producing region of Cobar, NSW. The company’s Canbelego project is situated on tenement EL6105 about 45km southeast of the township of Cobar in NSW, and represents a joint venture (JV) with local copper producer Aeris Resources (ASX:AIS), with Helix managing and holding the majority 70% interest in all associated tenements.
Other projects included within Helix Resources exploration portfolio include the Collerina, Cobar Gold, and Rochford Copper Trend Projects, which are also located within proximity of Cobar in NSW.
Images: Helix Resources Ltd
