First Diamond Drillhole Of 2021 Programme A Hit
Helix Resources Limited (ASX:HLX) has had instant success with the first hole in its 2021 drilling campaign intersecting a thick copper sulphide section at the Canbelego Copper Project in NSW, Australia.
Diamond drillhole CANDD001 has intersected copper sulphide mineralisation at the predicted target position indicated by previous drilling and DHEM models at its advanced Canbelego Copper Project. Canbelego is a joint venture with Aeris Resources Limited (ASX:AIS) with Helix holding 70% and Manger and AIS on 30% and contributing to exploration expenditure and planning.
The advanced Canbelego Copper Project has an Inferred Mineral Resource of 1.5Mt at 1.2% copper reported in accordance with the 2004 JORC Code. Helix’s previous drilling, last undertaken in 2013 and resultant DHEM modelled targets were never followed up. The DHEM data was recently remodelled by Southern Geoscience Consultants resulting in refinements to the DHEM targets tested by the current diamond drilling programme
The first diamond drill hole, CANDD001 intersected 24m of typical Canbelego style copper sulphide (chalcopyrite) mineralisation from 257m downhole comprising discrete zones of disseminated chalcopyrite and veining.
Managing Director, Mike Rosenstreich, said the true width of the significant chalcopyrite mineralisation is estimated to be 16m, with copper, gold and other assays expected in June.
“It’s very pleasing to intersect visible copper sulphides at the predicted copper target position extending mineralisation another 40m below the current outlines and with a second drill hole in progress we hope to extend the known copper sulphide mineralisation at Canbelego even deeper. The rig is planned to move to the Central Zone deposit along the Collerina Trend after Canbelego,” Mr Rosenstreich said.
“Planning is also underway to test the new targets indicated from the recent VTEM survey which are prospective for repeat positions to the north., west and south of the existing Canbelego mineralisation.”
This initial drill hole for 2021 has extended the outline of the copper mineralisation approximately 30-40m down dip (subject to receipt of copper assays) from previous intervals such as six metres at 2.0% copper (drill hole CD2) and two metres at 6.7% copper in CANRC018.
A follow up drill hole, CAND002 is in progress designed to test this mineralised zone another 30-40m down dip as indicated by the DHEM target models.
Thereafter a third diamond core hole is planned ~100m to the north to test another shoot position indicated by previous drilling and reprocessed DHEM data.