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Aeris Resources welcomes strong regional copper results from partner Helix Resources at Canbelego

Stock Markets Oct 04, 2022 09:30
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© Reuters. Aeris Resources welcomes strong regional copper results from partner Helix Resources at Canbelego
 
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Aeris Resources Ltd (ASX:AIS) welcomes further strong copper results from partner Helix Resources Ltd at regional targets of the Canbelego Copper Project joint venture in the prolific Cobar Basin of western New South Wales.

Results of up to 11 metres at 0.75% copper from 141 metres including 3 metres at 1.8% from 147 metres have been returned from the first drilling in eight years at the Caballero prospect, 2.5 kilometres from the Canbelego Main Lode.

The reverse circulation (RC) drilling generated significant, open-ended zones of copper mineralisation and intense alteration along the Rochford Trend to the southeast of Cobar.

A follow-up diamond core hole 50 metres beneath the intervals intersected weak visible copper mineralisation and silica-chlorite alteration zone over a 120-metre zone from 254 metres downhole.

About Canbelego

The Canbelego Project lies along the regional-scale Rochford Trend and is a 70:30 contributing joint venture JV with Helix holding 70% and acting as manager while Aeris Resources holds 30%.

Aeris is confident that this project will add to its copper bounty in western NSW within proximity to its Tritton operations.

Helix has also returned encouraging results at the Western ‘Lodes’ 200 metres west of the Canbelego Main Lode including 3 metres at 1.1% copper from 94 metres and 3 metres at 1% from 27 metres.

Drilling program

An RC program of 27 holes for 4,275 metres started in early July and was completed in mid-September with assays received for 15 holes and results pending for the remaining 12 holes.

The targets tested comprised the newly identified mineralised ‘lode’ positions to the west of the Canbelego Main Lode, the new Shango target and Caballero prospect, which had not been drilled since scout RC drilling in 2013.

Encouraging results

Helix describes the results at Caballero, comprising of significant copper assays and visual copper mineralisation ‘down-dip’ in the follow-up diamond core hole, as exciting for the potential discovery of a new copper deposit.

Caballero is a wide zone with intense alteration and deformation, 2.5 kilometres south along ‘trend’ from the Canbelego Main Lode within the Rochford Copper Trend.

Additionally, the results at Canbelego West 2 Lode outline a highly anomalous copper zone and also warrant follow-up work.

“Significant copper system”

Helix managing director Mike Rosenstreich said: “These results indicate we have identified a significant copper-mineralised system at Caballero – the scale and intensity of the alteration zone in the diamond hole, supported by highly anomalous copper assays in the RC hole are very encouraging.

“The team is excited about these early-stage results at Caballero, and we will reassess our priorities and ongoing work program, as we think persistence could pay-off around the West Lodes mineralisation.”

What comes next

The drill rig has now mobilised to Canbelego Main Lode to undertake large ‘step-out’ drill holes testing the depth potential of the Main Lode.

Follow-up of the RC program includes receipt of the 2,291 pending assays and ongoing surface and downhole geophysics ahead of further follow-up drilling with Caballero a clear priority focus as well as new emerging regional targets.

Read more on Proactive Investors AU

Disclaimer

Aeris Resources welcomes strong regional copper results from partner Helix Resources at Canbelego
 

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