Helix Resources Ltd (ASX:HLX) has revealed new copper assays from its diamond core drilling program at the Canbelego Copper Project in central New South Wales.
Assays were received for the last two diamond drill holes ahead of completing a new resource estimate for the Canbelego Main Lode.
The highlight Main Lode intersections include:
- 8 metres (m) at 1.23% copper (Cu) from 508m, including 3m at 2.35% Cu from 509m (CANDD019A); and
- 6m at 1.86% Cu from 586m (CANDD020).
Canbelego location plan.
Helix managing director Mike Rosenstreich said: “We are looking forward to completing the first Mineral Resource update for Canbelego since 2010 which is on track for completion this month.
“Helix’s drilling has highlighted the potential for thicker, higher-grade zones at shallower levels within the existing 2010 resource outline and for new resources to extend beneath that 2010 outline following the newly defined shoots.”
Read: Helix Resources sees promising copper results at Canbelego JV ahead of resource update
“The next steps at Canbelego, aside from the resource estimate, are to undertake a thorough geological review of the greater Canbelego project area to assess new targets”, Rosenstreich explained.
“We have gathered a massive amount of high-quality structural and geophysical data from over 70 recent drillholes with intercepts and conductive anomalies from the Main Lode having kept us focused primarily on that shoot.
“However, we know ‘Cobar-style’ systems can have multiple lodes and therefore we need to pause and examine all the data.
“For example, the potential of the Western Lodes to develop into larger-scale shoots along strike or down plunge.”
Rosenstreich added: “Helix is very busy across its eastern and western tenements undertaking geophysical and geochemical surveys aimed at making new copper discoveries.
“I am looking forward to sharing further updates on this work as well as the forthcoming Canbelego resource update.”
Significant copper intercepts in diamond holes at a range of cut-off grades (Main Lode intercepts highlighted).
The Canbelego Copper Project is a 70:30 contributing joint venture with Aeris Resources Ltd (ASX:AIS) with Helix holding 70% and managing the program.
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