Helix Resources (ASX:HLX) is focusing on developing drill targets across several priority copper–gold targets, as well as several new targets in the Eastern Group Tenements in New South Wales, this quarter.
In its latest quarterly report, the company says infill auger, sampling, and field programs are in progress, with aircore drilling anticipated to begin in the next month.
Helix Resources, which has a market capitalisation of $9.79 million, is conducting infill auger sampling at the Bijoux prospect. The improved geochemical data coverage will be integrated with recent gradient array induced polarisation (GAIP) geophysics to improve targeting for a planned drilling program.
At Louis, aircore drilling will be undertaken to follow-up anomalous copper and pathfinder auger results. If results are encouraging, evaluation work will continue with appropriate drilling and geophysics.
Meanwhile, aircore drilling is also planned in covered areas between Bijoux and Cabellero, to complete geochemistry coverage on the highly prospective Rochford Trend and infill auger sampling in several areas.
At the Eastern Group Tenements, Helix plans to conduct initial auger sampling on anomalous areas and conduct a detailed review and analysis of the multi-element geochemical data to facilitate prioritisation of target areas.
The company is anticipating an aircore drilling program in areas where the auger sampling is not effective and to test other priority areas that emerge from geochemical data analysis.
Once targets are confirmed, the company will begin drill testing.
Managing Director Dr Kylie Prendergast says regional-scale auger sampling continues to yield results at the Eastern Group Tenements, with a suite of targets already identified.
“Each target is anomalous in gold and pathfinders and are considered prospective for Tritton-style copper-gold deposits,” Prendergast says.
“These targets have potential for the discovery of economic mineralisation and will be followed up with further auger, plus aircore drilling where warranted.”
Further, at the historical Muriel Tank Goldfield, field mapping and sampling will continue to build a clear picture of the scale and continuity of identified gold mineralisation.
Helix will also conduct auger sampling using a mechanical auger rig and follow-up drilling.
Prendergast says the outlook for copper-gold exploration is “positive” across the markets and its tenements, with targets close to existing infrastructure that is under evaluation.
“Each quarter builds on the last and we have a strong program of activities planned over the next few months, which is very much focused on drill testing new undrilled copper-gold targets.”
As of 30 June 2024, the company had $2.745 million cash at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Helix Resources
