Helix Resources Ltd (ASX:HLX) sees growing copper potential in the Cobar-Nyngan region of central NSW thanks to the latest chapter of its regional targeting scheme.
The explorer has put its hand up for a 585-square-kilometre exploration licence — north of Aeris Resources Ltd (ASX:AIS)’s Tritton copper operations and along strike from the Collerina Copper Trend — in its quest to make new copper discoveries.
Helix’s landholding now stands at 2,900 square kilometres, giving it a sizeable exploration footprint as it prospects for the copper, gold and base metal deposits this region is famous for.
Helix’s exploration licence application (red) and its existing tenure (blue).
Big picture thinking
While the focus remains on founding new discoveries, Helix managing director Mike Rosenstreich said understanding the surrounding geology would be fundamental to the company’s success.
“The rocks that host our eastern tenements are referred to as the Girilambone Group – a thick monotonous sequence in which it can be difficult to identify rock types or structures,” he explained.
“This makes it very challenging to characterise the geological setting for copper deposits and they are much less explored.”
Not one to shy away from a challenge, Rosenstreich says the team has adopted a systematic approach, leaving no stone unturned in the hunt for copper targets.
“Over the last 12 months, we have put boots on the ground and applied the latest geophysical processing techniques to build up a detailed geological model to identify key areas prospective for mineralisation.”
It seems the hard work is paying off: “This proprietary copper signature has led us to peg a major new tenement and is enhancing the targeting work on our existing ground.”
Thanks to improved weather conditions and land access, the MD says Helix is building momentum.
“[We’re] lining up new targets for drill testing while work continues on an updated resource statement for the Canbelego Main Lode, which is anticipated prior to the end of the financial year,” he concluded.
On the agenda
While there’s much excitement surrounding the new application, Helix’s existing tenure won’t be left in the dust.
The company recently began a two-rig auger program over the Collerina and Rochford trends, where geochemical sampling is underway in a multi-month campaign.
In addition, a fixed loop electromagnetic (FLEM) survey is in progress over targets north of the Collerina Trend, while another FLEM survey is planned in the Fiveways area south of the advanced CZ Project.
Both surveys are slated for completion in June, after which an updated mineral resource will be released for Helix’s Canbelego copper play.
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