Helix JV NSW

Helix Resources hits more visual copper mineralisation at its Greater Canbelego in NSW

Helix Resources (ASX:HLX) reports that visual copper mineralisation has been intersected in from reverse circulation (RC) drillholes within its Greater Canbelego Joint Venture (JV) project area in New South Wales.

The first two RC holes of the new drill program both hit visual copper mineralisation testing a newly identified parallel lode position (CBW1) 200m west of the Canbelego Main Lode. One drillhole intersected oxide copper minerals (malachite and chalcocite) at shallow depths (7m to 34m downhole in CBLRC032).

The 5,000m RC drilling program recently started to test copper-lode targets in the Greater Canbelego area and the Caballero Prospect, which is located 2.5km south of Canbelego Main Lode, along the Rochford Trend.

Helix considers that the Rochford Trend has the potential to host ‘Cobar-style’ copper deposits analogous to the large-scale, ‘high-grade’ mineralisation found at the nearby CSA Copper Mine.

The recent RC drilling follows the completion of the latest Canbelego Main Lode diamond drilling program, consisting of four drillholes, CANDD010 to CANDD013.

The diamond drillholes tested the new geological interpretation for the Canbelego Main Lode of a ‘high-grade’ copper shoot plunging south, not north, highlighted by the CANDD002 intercept of 14m at 4.2% copper and potentially a second shoot to the southeast.

Addressing the results, Helix Managing Director Mike Rosenstreich said: “The current diamond and RC drilling is providing strong encouragement of deeper high-grade copper shoots at Canbelego Main Lode and potential parallel ‘look-a-likes’ in close proximity.

The current diamond and RC drilling is providing strong encouragement of deeper high-grade copper shoots

This RC drill program comprises approximately 40 holes and we are excited to start drill testing other, earlier stage prospects, such as Caballero along the Rochford Copper Trend.

Copper mineralisation is typically very ‘visual’ and RC drilling is much quicker than diamond core drilling – so we can make drill decisions and share news more regularly ahead of assays – which are still taking 60 to 80 days.”

The RC drilling program will continue testing the newly identified parallel lode positions to the west of the Canbelego Main Lode and then move south to the Caballero Prospect to follow-up on promising anomalous RC drill results returned in 2018 but not followed up.

The Canbelego Copper Project lies along the regional scale Rochford Copper Trend. It is a 70:30 ‘contributing’ JV (Helix 70% and Manager, Aeris Resources (ASX:AIS) 30%).

Images: Helix Resources Limited
Author Image
Written By Adam Orlando
Mining.com.au Editor-in-Chief Adam Orlando has more than 20 years’ experience in the media having held senior roles at various publications, including as Asia-Pacific Sector Head (Mining) at global newswire Acuris (formerly Mergermarket). Orlando has worked in newsrooms around the world including Hong Kong, Singapore, London, and Sydney.