Aeris Resources Ltd (ASX:AIS) partner Helix Resources Ltd (ASX:HLX) will resume efforts next month to test major off-hole conductive copper targets at the Canbelego Joint Venture (JV) Project in the Cobar region of NSW.
This follows the first diamond hole drilled recently, daughter hole CANDD015A, “just missing” the target conductor, instead intersecting minor copper sulphide mineralisation.
With directional drilling conditions proving challenging, the other daughter hole, CANDD016A, was suspended due to a rig breakdown.
Both large-scale, high-conductance targets interpreted as high-grade copper shoots, therefore remain untested and Helix plans to resume drilling and further DHEM survey work from completed drill holes on January 9, 2023.
In Cobar basin
The Canbelego Copper Project lies along the regional-scale Rochford Copper Trend and falls within the ‘contributing’ JV with Helix holding 70% and serving as project manager and Aeris holding 30%.
This trend has the potential to host ‘Cobar-style’ copper deposits analogous to the large-scale, high-grade mineralisation found at the nearby CSA Copper Mine.
Major conductive targets
Significant DHEM, conductive targets were discovered from two, deep ‘parent’ holes, CANDD015 and 016, which demonstrated the down-dip continuity of the Canbelego Main Lode for a further 400 metres below the base of the 2010 mineral resource.
These large-scale, highly conductive targets are interpreted as high-grade copper shoots plunging within the overall shear zone hosting the Canbelego copper mineralisation.
Two ‘daughter’ holes were designed to test these targets.
Challenging conditions
In challenging conditions for tight directional drilling, utilising three Navi-cuts and various other measures to steer the hole trajectory, this first test appears to have just clipped the shoot.
At the target position, disseminated and vein copper sulphides (chalcopyrite) was observed in drill core, which is not consistent with the intensity of the conductive responses from the DHEM surveys in holes CANDD015 or 016.
The other daughter hole was suspended at 522.7 metres due to a mechanical failure about 80 metres off the target resulted in the rig being sent away for repair.
Drilling will resume on January 9, 2023, to complete this hole, undertake DHEM of the ‘near-miss’ in CANDD015A and continue to test these highly significant targets for high-grade copper mineralisation.
Geological logging and sampling are in progress for CANDD015, CANDD016, CANDD015A and CANDD016A and initial assay results are expected early in the new year.
“Unique targets remain untested”
Helix managing director Mike Rosenstreich said: “It appears that we have just missed the target. These conductive targets which we consider represent high-grade copper shoots, remain untested.
"They are unique in terms of their large-scale and conductive intensity compared to anything ever detected around the Canbelego Main Lode.
"After a well-deserved Christmas break for all of the exploration team and drill crew we will resume our hunt, reassessing means to get better directional control on our drilling.
"Hopefully, with the ground conditions improving we can also resume and accelerate our regional target generation work.
"The team and I remain highly confident and excited about the prospectivity at Canbelego and, indeed, our wider tenement holdings.”