Helix Resources (ASX: HLX) has reported on the emergence of a series of new copper sulphide zones at its Canbelego Joint Venture Project following the completion of an RC drilling program which returned ‘numerous’ visible copper sulphide hits.
The 9 hole for 1,368m program, which was tasked with testing for new parallel lode positions at the project, found success with the intersection of two new parallel potential lode positions west of the Canbelego Main Lode Mineral Resource.
The company notes that the new zones are defined by ‘broad’ quartz-pyrite-chalcopyrite (copper sulphide) veining, with both extending for around 100m in a north-south direction and remaining open to the north.
Speaking on the preliminary drill results, Helix Resources Managing Director Mike Rosenstreich said: “Last year we undertook the first drilling at Canbelego since 2013, in which we discovered thick, intense copper sulphide mineralisation. Assays confirmed the high-grade nature of these copper results and with detailed systematic geological work we have developed an understanding of the potential of our ground to host large- scale, high-grade ‘Cobar-style’ deposits.
The preliminary RC drilling outcomes we are reporting validate our ‘Cobar-style’ exploration model by demonstrating two, new, parallel mineralised zones to the west of the Canbelego Main Lode of approximately 100 metres north-south and that each remain open to the north.
“We and our Canbelego JV partner, Aeris Resources, are very encouraged by the increased potential we continue to unearth around Canbelego”
We and our Canbelego JV partner, Aeris Resources, are very encouraged by the increased potential we continue to unearth around Canbelego as we methodically work through the historic data in combination with our new results and interpretations. This approach is also highlighting the significance of regional prospects such as Caballero and Bijoux, which are two to ten kilometres southeast along the Rochford Trend, on 100% Helix tenure.
We are gaining momentum with positive exploration results, and we believe this area holds tremendous potential to make more copper discoveries. Therefore, we plan to focus much of our work on this Western tenement block for the next 3-6 months, with further diamond drilling, surface and down-hole EM work and additional regional target testing and generation – to find more copper!”
Canbelego is situated along the regional-scale Rochford Copper Trend near Cobar, NSW, and is operated as a 70:30 contributing JV between Helix and junior partner Aeris Resources (ASX:AIS).
Drill hole location plan at the Canbelego Copper ProjectThe project was subject to five diamond drill holes during 2021 for a total of almost 2,000m around and beneath to Canbelego Mineral Resource (or Main Lode), following an 8 year exploration hiatus. This was joined by a further diamond hole in January 2022 reaching 561.7m, which Helix reports was successful in highlighting the ‘open’ nature of ‘high-grade’ copper mineralisation.
The recent 9-hole RC program was targeted as a follow-up on shallow mineralisation intersected west of the Main Lode, and will be joined by two additional diamond holes.
Further assay results are expected in mid-to-late March 2022.
Images: Helix Resources Limited
