Helix Resources (ASX:HLX) is lining up 2 gradient array induced polarisation (GAIP) surveys, the first covering a 16km-square area from north of Canbelego to south of Caballero.
The $6.96 million market capitalisation company will then embark on a second covering a 5km-square area over the Bijoux prospect. A GAIP survey is a cost-effective method surveying large areas to detect chargeability and resistivity anomalies, however GAIP will not provide a depth constraint on any identified anomalies.
Helix says the GAIP anomalies will need to be followed up with pole-dipole induced polarisation (PDIP) surveys to accurately define the depth and geometry of the anomalies.
Utilisation of GAIP to detect sulphide mineralisation and then PDIP to better define the target ahead of drilling will fast track drill testing and optimise the drill success rate – saving drill metres and expenditure.
The GAIP surveys will start in early March 2024, with the surveys expected to be completed in late-March. Follow-up PDIP surveys will be undertaken after that to define drill targets.
Helix says the new targets highlight potential for parallel lodes to increase the scale of the copper deposits. Both anomalies (central and western) possibly extend and thicken the Western Lode system and sit 600m west of the Canbelego Main Lode at 135m deep, respectively.
Executive Technical Director Dr Kylie Prendergast says while still early days, the use of IP geophysics is emerging as a “game-changer” for the company and its exploration of the Rochford Trend.
“Copper mineralisation occurs as sulphide minerals in either disseminated, vein stockworks or sometimes massive-sulphide textures. The after can be conductive and to date we have relied on measuring that massive, conductive feature utilising electromagnetic survey techniques to identify potential deposits.
However, at Bijoux we intersected copper sulphides at grades well above 1% copper but occurring as veins and disseminations and hence unlikely to give an EM response.
With our multi-disciplinary approach including pathfinder geochemistry, we think IP can identify quite refined drill targets or eliminate targets, which offers significant savings on drilling expenditure and time.
This is an exciting development, fast-tracking Helix on a discovery pathway while saving money and optimising our drill targeting.”
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
