Helix Resources Ltd (ASX:HLX) is back on the ground in NSW’s prolific Cobar Basin as it continues the hunt for base metal deposits along the Collerina and Quanda copper trends.
The explorer is rolling out a geophysicial surveillance program after a 2021 airborne campaign identified a suite of high-priority electromagnetic targets.
Given the targets are yet to see a drill rig, Helix’s primary aim is to find the best drill testing positions, teeing it up to kick off the campaign as soon as ground results come to hand in July.
Ultimately, the Collerina program forms just one facet of Helix’s regional exploration mandate, designed to lead it to new copper discoveries in a region that’s well regarded for its base metal upside.
Aeris deposit paves the way
As geophysics get underway, Helix is taking the magnifying glass to regional targets that straddle the Collerina and Quanda copper trends.
These trends extend to the north, where they host an amalgamation of mines, deposits and prospects that make up Aeris Resources Ltd (ASX:AIS)’s Tritton operation.
The explorer also believes that electromagnetics are the way to go — particularly in this region — as Aeris’ most recent deposit (dubbed Constellation) was discovered thanks to airborne electromagnetics.
Helix managing director Mike Rosenstreich said Constellation’s discovery gives the company confidence that they might find similar success along the NSW copper trends.
“Interestingly, Russell Mortimer, our geophysical consultant, also worked on the electromagnetic survey which discovered Aeris Resources’ Constellation deposit north of us and he remarked on the similarity of that anomaly to our Quanda anomaly.”
Following historical weather and access issues, Helix’s work represents the most significant early-stage exploration campaign undertaken on the Collerina Copper Trend in nearly two years.
A regional approach
Rosenstreich said the hunt for regional copper had always been a core part of the company’s strategy, particularly since he took on the leadership role in early 2021.
“New discoveries, particularly for a highly focused company like ours, generates tremendous value for shareholders when they do happen,” he explained.
Nevertheless, Rosenstreich knows that discoveries only happen when you have the exploration trifecta: the funds, the ground and the team.
“We have all three!” he exclaimed.
“We are methodically applying new technology and the impact is like brightly illuminating a dark room for the first time in our ability to ‘see’ the geology and detect mineralisation in difficult covered terrains such as at Collerina.
“Now, after a long period of weather-related delays, access is available and we are not wasting any time to test these anomalies.
“It is very satisfying to see our regional work here and at Rochford gaining momentum and generating positive results. I look forward to providing further updates across a range of activities covering many targets hunting for new copper deposits.”
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