ASX-listed minerals exploration company Helix Resources (ASX:HLX) has uncovered a new mineralised copper interval following diamond drilling at its Canbelego Copper Project in central New South Wales (NSW).
The results, generated by drill testing of a ‘high-order’ conductive target, demonstrate that the new mineralised interval occurs 320m below the base of the current 2012 inferred mineral resource of 1.5 million tonnes (Mt) @ 1.2% Cu, and that 14m of copper mineralisation exists from 594m downhole in drillhole CANDD016C.
The company says the target is represented by a 14m intersection of chalcopyrite veins and stringers, as well as a 1m interval of semi-massive chalcopyrite.
“There appears to be ample scope to delineate significant additional contained copper tonnes in this area as well as further up and down plunge which remains untested”
Adding on, Helix Resources reports that the mineralisation is similar to that intersected in drillhole CANDD006, which returned intercepts of 5.3m @ 3.3% Cu, as well as within CANDD012 which yielded 14.3m @ 1.96% Cu from 417m, including 8.3m @ 2.82% Cu.
Drilling was commenced in December 2022 to test the depth continuity of copper mineralisation within the Canbelego Main Lode Shear.
Speaking on the results, Helix Resources Managing Director Mike Rosenstreich says: “We have hit copper mineralisation a long way below the base of the current 2010 mineral resource at 320 metres. It is nearly 200m ‘up-plunge’ to the next intercept in diamond hole-12 which hit 14.3m at 1.96% Cu, including 8.3m at 2.82% Cu.
There appears to be ample scope to delineate significant additional contained copper tonnes in this area as well as further up and down plunge which remains untested. This will be a focus for our next drilling and could be very important for our updated mineral resource estimate at Canbelego – potentially impacting the exact timing.
It’s an exciting time for the exploration team to have now verified this target as representing a copper-shoot within the overall shear structure in an area never drilled previously. The accuracy of the DHEM modelling by Southern Geoscience is very valuable for efficiently targeting the ongoing drill program which can now be optimised for the drill conditions.”
The company also notes the intercept was made within metres of the predicted position from the downhole electromagnetic (DHEM) models, which is reported to prove the value of further DHEM surveys to guide drilling out the copper shoot position.
Meanwhile, it is reported DHEM surveys are currently in progress for drillholes CANDD015A and CAND0016C, with results expected to provide further resolution of the conductors within this tenure in order to guide further drill planning. DHEM results are expected in mid-February.
With intercepts from drilling now returned, Helix announces core processing and logging of drillhole CANDD016C is currently in progress, and that samples will be submitted for assay shortly with results expected in March 2023.
Helix Resources is a mineral exploration company focused on the development of its Collerina Project and Cober Gold projects in central NSW. The company’s Canbelego project is located about 45km southeast of Cobar and 5km south of the historic Mt Boppy Mine along the Rochford Copper Trend in NSW and represents a joint venture operation between Helix and Aeris Resources (ASX:AIS).
Other assets included in Helix’s arsenal include the wholly owned Collerina project, and the Cobar Gold Project in NSW.