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    New EM conductors confirm growth potential at Helix’s Canbelego project

    Helix Resources Limited (ASX: HLX) has announced that strong downhole electro-magnetic (DHEM) conductors were defined in DHEM surveys of the first 3 diamond drill holes, CANDD001, CANDD002, and CANDD003 at the Canbelego area within the Canbelego Copper Project in Central NSW.

    HLX said that these strong off-hole conductors are interpreted to relate to high-grade copper sulphide mineralisation and warrant immediate follow-up drill testing. The company reported that surface MLEM surveys are currently in progress to refine the airborne (VTEM) EM anomalies.

    follow-up diamond core drill testing …is underway to further define and extend the potentially high-grade, massive copper sulphide

    Helix said that follow-up diamond core drill testing of the DHEM conductive targets is underway to further define and extend the potentially high-grade, massive copper sulphide shoots indicated by the DHEM and intersected in CANDD002.

    DHEM survey completed

    HLX had recently completed, interpreted, and modelled downhole electro-magnetic (DHEM) in all three diamond drillholes CANDD001, CANDD002, and CANDD003 at Canbelego area within the Canbelego Copper Project.

    The company said that the DHEM survey has confirmed potential high-grade massive copper sulphide targets comprising discrete steeply plunging shoots.

    Strong EM conductors

    Helix reported that the modelling of the DHEM data indicates that the conductor targets represent a series of ‘dip continuous’, stacked shoot positions within a broader north-south trending late-stage copper mineralised structure.

    New off-hole EM conductor plates modelled from DHEM surveys in the first three holes at Canbelego
    New off-hole EM conductor plates modelled from DHEM surveys in the first three holes at Canbelego

    CANDD001

    The company said that the DHEM survey suggests the hole CANDD001 has intersected the southern edge of the target conductor (target from CBLRC018 2013 DHTEM remodelling). HLX said that the modelling of the new DHEM survey in CANDD001 has defined a strong conductor centred just above and extending north of the hole. The conductor plate models at approximately 70 metres width (N-S) and has over 200 metres dip extent/plunge extent.

    CANDD002

    HLX said that hole CANDD002 clearly intersected the conductor with the strong copper sulphide intercept related to the modelled DHEM conductor. The EM conductor is centred about the hole and extends to the north. This supports the same steep NW plunge, consistent with the CANDD001 intercept. The conductor plate models at 70 metres width (NS) and over 125 metres depth/plunge extent.

    CANDD003

    The company said that the initial assessment of the DHEM data for hole CANDD003 suggests there is a clear, local, moderate to strong off-hole anomaly centred at 270 metres to 280 metres down hole. HLX said that a lower anomaly is also modelled south of the hole, which appears to extend down dip in the later DHEM readings. This has a conductance of 500-700S.

    Surface MLEM survey

    The company said that in addition to the DHEM survey, a surface moving loop electro-magnetic (MLEM) survey is also in progress to follow-up the VTEM MaxTM anomalies in the broader Canbelego area ahead of drill testing by reverse circulation (RC) drill traverses.

    What’s next?

    The company said that follow-up diamond drilling is ongoing, with ground-based geophysical surveys, and further DHEM surveys considered the necessary next steps to continue to test the extent of copper mineralisation at Canbelego.

    HLX said that follow-up drilling of the fourth hole (CANDD004) is in progress and is designed to test the Central shoot above the CAND002 intercept, approximately 40 metres north along strike from CANDD001 intercept, where a thickened, higher-grade copper sulphide position is interpreted and modelled from the DHEM data. The company said that a fifth drill hole is planned and approved by the joint venture to test further down plunge on the Central Shoot.

    “The Helix team is using EM with great success to identify the broader structures such as the north-south copper lode at Canbelego”

    Management statements

    Helix’s Managing Director, Mike Rosenstreich said: “Chalcopyrite, a primary copper sulphide mineral is often conductive and geophysical techniques such as electromagnetic surveys, either airborne, surface or downhole have proven to be very effective in finding copper mineralisation in the Cobar region.

    The Helix team is using EM with great success to identify the broader structures such as the north-south copper lode at Canbelego and then vectoring in on the high-grade shoots with powerful DHEM surveys. This worked well with CANDD001 which intersected typical Canbelego copper sulphides and the DHEM led to the exciting copper sulphide hit in the nearby CANDD002, which we consider is a high-grade shoot – in this case the Central Shoot. We hope that DHEM on CANDD003, which also hit typical Canbelego copper sulphides will provide a similar vector to maasive sulphides in the North Shoot.”

    Image Source:  Helix Resources Limited

    Jonathan Norris
    Jonathan is a founder of Mining.com.au and has been covering the resources industry since 2018. With over 17 years experience in print, broadcast and online media, Jonathan has seen first hand the transformative effect of online niche media.

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    • Delayed Prices (USD) - Last Updated 14-06-2021
    • Gold $1,873.40
    • Silver $27.89
    • Dalian Iron Ore i2109 $0.00
    • LME Aluminium $2,490.00
    • LME Cobalt $42,500.00
    • LME Copper $10,029.00
    • LME Lead $2,198.00
    • LME Nickel $18,303.00
    • LME Tin $33,060.00
    • LME Zinc $3,011.00