Helix Resources Ltd (ASX:HLX) has fielded encouraging results in more than 600 auger soil samples from its Eastern Group Tenements, which sit on the Collerina Copper Trend south of the Tritton Copper Operations of Aeris Resources Ltd (ASX:AIS, OTC:ARSRF).
HLX says the results – which included multiple samples of greater than 20 parts per billion (ppb) gold and peak values of 187 ppb, 39 ppb and 44ppb gold at Max’s Folly, Alderbaran and Gwinear respectively – confirm the tenor and scale of pathfinder element anomalies at each target.
The company also identified several gold anomalies at the Tarawera and Iowaba prospects, again with multiple results above 20 ppb gold and peak values of 37 ppb and 59 ppb.
Prospective zone similar to Tritton
“The auger infill programs continue to confirm there are significant geochemical anomalies along the prospective corridor we refer to as the Collerina Copper Trend, which extends south from the Aeris Resources' copper tenements through Helix’s Eastern Group Tenements for over 100 kilometres of strike length,” Helix managing director Kylie Prendergast said.
“The results demonstrate this is a major prospective zone and the signatures we are observing in the data are consistent with signatures for Tritton-style copper-gold deposits.
“Helix is working proactively around crop and weather constraints to progress programs in all accessible areas, bringing targets to a drill-ready stage as efficiently as possible.
“There are also several large areas along the prospective trend which are proposed for aircore drilling as they are essentially unexplored, given airborne VTEM (versatile time domain electromagnetic) geophysics may not have tested through the alluvial clays.
“Helix is focused on advancing several priority targets in its pipeline which we believe have potential to deliver a new copper-gold discovery in the highly endowed, Cobar region close to established operations and processing facilities.”
Aeris’ Tritton operation produced 5,400 tonnes of copper at an all-in-sustaining cost (AISC) of A$5.23 per pound in the June quarter, up 20% from the previous quarter.
AIS expects Tritton to produce between 21,000 and 25,000 tonnes of copper over the 2025 financial year.
Next steps
From here, Helix Resources will:
- Collect results from 45 auger samples at Iowaba, pending at the laboratory, expected in early-August.
- Complete infill and extension auger sampling to define drill targets in anomalous zones at Iowaba and Tarawera in non-cropped areas after pending results received.
- Complete Infill auger sampling in progress at the Bijoux prospect, Rochford Trend in the Western Group tenements, with results expected in late-August to early-September.
- Undertake additional infill auger sampling at Max’s Folly and Gwinear after crops have been harvested.
- Plan aircore drilling to follow up auger anomalies where they extend into deeper cover areas, where auger drilling will be ineffective.
- Assess all anomalies and targets emerging from this work and follow up top-ranked targets with drilling.