Helix Resources (ASX: HLX) has intersected a 29m zone of copper-sulphide mineralisation during drilling at the Main Zone target within its 70%-owned Canbelego Copper Joint Venture in New South Wales.
Diamond hole CANDD006 encountered visible copper sulphide approximately 50m down-dip and north of a previously-reported ‘high-grade’ intercept of 18m @ 3.4% Cu in hole CANDD002.
The intercept occurred at between 405m to 434m and was mainly comprised of incipient veins and disseminated chalcopyrite, including approximately 1.3m of massive to semi-massive chalcopyrite from 425.2m.
Assay results remain pending, and are expected in roughly 2-3 months.
Addressing the result, Helix Resources Managing Director Mike Rosenstreich said: “This is an encouraging start to the resumption of drilling at Canbelego. We have done a lot of work to understand the prospect scale geology and controls on the copper mineralisation – including how to target some of the higher grade, massive copper-sulphide shoots such as we hit in May last year, 18 metres at 3.4% copper.
“We have done a lot of work to understand the prospect scale geology and controls on the copper mineralisation”
It’s still very early days but we are also very interested to test the concept of repeat lodes which is typical for the ’Cobar Style’ of copper deposits, which are often blind at surface or have small footprints but can extend for up to several thousand metres vertically.”
Incipient copper minerals including malachite, bornite, and chalcopyrite were observed higher in the drill hole, indicating possible shallower, parallel lode positions to the west. The company notes that these results may correlate with similar intervals from 2021 drilling, which saw five diamond holes completed for a total of almost 2,000m.
Drill core from 142m – 142.05m in hole CANDD006 displaying bornite (grey-purple) with coarse grained chalcopyrite (brassy) in sugary quartzMoving forward, Helix reports that it has commenced a 12-to-15 hole RC drill program to test for parallel lode positions to the south-west. Regional auger soil sampling and further RC drilling has also been budgeted and approved by Helix and JV partner Aeris Resources (ASX:AIS).
Further exploration work at Canbelego includes a surface moving loop EM survey to better define VTEM anomalies to the northeast, along with a downhole EM survey on hole CANDD006 in search of deeper, lateral target positions.
Images: Helix Resources Limited
