Helix Resources plans to expand landholding in Collerina Copper Trend, NSW

Perth-based explorer Helix Resources (ASX:HLX) is continuing its quest to make new copper discoveries by applying for a new exploration licence along strike from its Collerina Copper Trend in New South Wales.

The company reports the 585km-square exploration licence is prospective for copper discoveries, with new regional-scale targeting work highlighting the ‘strategic importance’ of the tenure.

Helix has utilised reprocessed geophysical data and regional-scale geological mapping to identify geological features related to mineralisation, which the company says is generally obscured due to the thick monotonous rock sequences with little geophysical contrast and scarcity of outcrop in the region. This explains the ‘very little’ effective exploration in the area.

The company reports this work has added ‘vital’ detail to the interpretation of the regional geology, including sequences and structures associated with mineralisation throughout the recognised copper-bearing trend. 

Specific signatures were recognised within the prospective host sequence to the copper deposits, including the recently acquired north tenure, the ground currently being mined by Aeris Resources (ASX:AIS) at Tritton and extending south to Helix’s prospective tenure in the greater Cobar region.

These findings are also being applied to Helix’s existing tenure, spanning 2,300km-square, to identify new copper and gold targets. Once the exploration licence is granted in several months, Helix reports it will have a total landholding of 2,900km-square in the greater Cobar region of central New South Wales.

Commenting on the exploration licence application, Helix Resources Managing Director Mike Rosenstreich says: “This regional exploration work is focused on making new copper discoveries, and we do that by understanding the geological setting of the known deposits.

The rocks which host our eastern tenements are referred to as the Girilambone Group, a thick monotonous sequence in which it can be difficult to identify rock types or structures. This makes it very challenging to characterise the geological setting for copper deposits and they are much less explored.

Over the past 12 months, we have put boots on the ground and applied the latest geophysical processing techniques to build up a detailed geological model to identify key areas prospective for mineralisation”

Therefore, over the past 12 months, we have put boots on the ground and applied the latest geophysical processing techniques to build up a detailed geological model to identify key areas prospective for mineralisation.

This proprietary copper signature has led us to peg a major new tenement and is enhancing the targeting work on our existing ground. With benign weather and improved land access, we are building momentum, lining up new targets for drill testing, while work continues on an updated resource statement for the Canbelego Main Lode, which is anticipated prior to the end of the financial year.”

Additionally, Helix reports it has recently begun drilling with a second auger rig for geochemical sampling in the Collerina Trend south of the CZ Project, which lies along the Collerina Copper Trend. The first auger rig is continuing geochemical sampling on the Rochford Trend, and geochemical sampling by both auger rigs will continue for several months.

A fixed-loop electromagnetic (FLEM) survey is also in progress over versatile time domain electromagnetic (VTEM) targets in the north of the Collerina Trend, while another FLEM survey is planned in the Fiveways area south of CZ.

Helix also reports an updated Mineral Resource Estimate (MRE) for the Canbelego Project is on track for completion in June 2023. Additionally, drill programs are being planned to test the various targets being generated by these different work streams.

Helix Resources is an ASX-listed resources company that is ‘all-in on copper’ exploration in the Cobar region of New South Wales. The company’s portfolio includes the Collerina and Rochford Copper Trend and Cobar Gold projects.

Additionally, Helix holds a 70% interest in the Canbelego Joint Venture (JV) Project, with Aeris Resources holding the remaining 30% interest.

Write to Harry Mulholland at Mining.com.au

Images: Helix Resources Ltd
Written By Harry Mulholland
Hailing from the Central Coast region of NSW, Harry is a passionate journalist with a background in print, radio and ESG news. When not bashing away on his keyboard, he can be found brewing a coffee or playing with his dog.