Junior explorer Helix Resources (ASX:HLX) has begun conducting surface geophysical surveys to follow up on ‘high-priority’ electromagnetic (EM) anomalies at its Collerina Copper Project in New South Wales.
The company reports survey specialist High Powered Electromagnetics has begun a fixed loop electromagnetic survey (FLEM) at the project to refine drill targets and notes the nature of the subsequent drill program will depend on the results of the geophysical survey.
Additionally, Helix says further FLEM surveys in the Central Zone project area may be considered to test for possible mineralised extensions into previously undrilled areas. Potential saline conductive cover may be present in this area, which requires consideration to ensure surveys are effective.
The company reports the start of this initial ground geophysical survey is another component of its multifaceted regional exploration program designed to make new copper discoveries. Helix expects the ground EM surveys will be returned in early July and says drill planning will follow as soon as possible.
Commenting on the geophysical surveys, Helix Resources Managing Director Mike Rosenstreich says: “Regional exploration, hunting for new copper deposits has always been a part of the Helix strategy since I took this role in January 2021. New discoveries, particularly for a highly focused company like ours, generate tremendous value for shareholders when they do happen.
“New discoveries … only happen if you have the funds, the ground, and the team; we have all 3″
But they only happen if you have the funds, the ground, and the team; we have all 3. We are methodically applying new technology, and the impact is like brightly illuminating a dark room for the first time in our ability to ‘see’ the geology and detect mineralisation in difficult covered terrains such as at Collerina.
Now, after a long period of weather-related delays, access is available, and we are not wasting any time to test these anomalies. Interestingly, Russell Mortimer, our geophysical consultant, also worked on the EM survey which discovered Aeris Resources’ (ASX:AIS) Constellation deposit north of us, and he remarked on the similarity of that anomaly to our Quanda anomaly.
It is very satisfying to see our regional work here and at Rochford gaining momentum and generating positive results. I look forward to providing further updates across a range of activities covering many targets hunting for new copper deposits.”
Helix reports the geophysical surveys follow an airborne EM survey conducted in February 2021 that identified 10 ‘high-priority’ targets beyond the Central Zone.
The company says the results from this EM survey prompted it to expand its tenement holding to the west to cover the interpreted position of the Quanda Trend and to ensure tenement coverage over EM anomalies on the former western boundary.
Of the 10 targets identified, Helix identified the Quanda-Hermidale and Fiveways targets as ‘particularly significant’, noting these targets and several others could be possible extensions to the Central Zone mineralisation. This theory was supported by geophysical consultant Mitre Geophysics, which was engaged by the company to review the airborne EM data and prioritise targets to test first.
Helix Resources is an Australian minerals exploration company focused on developing the Collerina Copper and Cobar Gold projects in Central New South Wales. Along with Collerina and Cobar, the company also holds the Rochford Copper Trend Project and the Canbelego Joint Venture (JV) Project with Aeris Resources (ASX:AIS).
The Collerina Project lies in the Cobar Basin, covering a tenement package of over 1,300km-square. Mineralisation within the Central Zone deposit is considered to be structurally modified volcanic massive sulphide (VMS)-style mineralisation.
The Central Zone also contains a maiden resource estimate of 2.02 million tonnes @ 2.03% Cu and 0.1g/t Au for 40,000 tonnes of contained copper and 9,400 ounces of contained gold.
Images: Helix Resources Ltd
