Helix Resources Ltd (ASX:HLX) has confirmed significant progress with its regional exploration push targeting new discoveries across 2,200sq. km strategic land position in the highly endowed Cobar copper district of NSW, Australia.
The company is undertaking an aggressive push to generate and assess regional copper targets.
The objective of this ongoing work programme is to supplement the discovery of high-grade copper at the Canbelego Main Lode with new copper deposits within the Cobar region.
To date several geochemical anomalies comprising ‘target’ and ‘pathfinder’ elements have been identified comprising new copper targets and enhancing existing copper prospects.
“Our team is excited to finally be getting on the ground to test these targets. We are generating some fabulous data sets to be able to properly explore all of our large strategic land position,” Managing Director, Mike Rosenstreich, said.
“We want to make fresh copper discoveries and the modern technology we are utilizing such as the VTEM geophysical survey we flew in 2021 and this multi-element geochemical work is an incredible leap forward to previous methods employed in being able to ‘see’ below the cover and detect mineralization.
“This report highlights sophisticated multi-element analysis to create a consistent regional scale geochemical data set which we can merge with geophysical and other information to identify new mineralized targets for drilling. Our methodical approach is designed to effectively test the ground and hopefully, generate new discoveries.
“As highlighted in our March Quarterly, we have around A$7M cash, which is a serious sum to get us well down a new discovery pathway.
“We plan for this report to be part of an ongoing series on progress to achieve that new- discovery goal.”
New targets
Highly encouraging results identifying mineralization were generated utilizing auger and lag soil sampling methods along the Rochford Copper Trend.
Several ‘copper’ anomalies, based on Cu and other anomalous associated elements (pathfinder elements) have been defined.
The interpreted anomalous zones are based on a combination of recent sampling and historical data which has been ‘levelled’ and either:
• highlighted existing prospects such as Canbelego, Caballero and Bijoux where the new, multi-element approach is assisting in vectoring into mineralized structures for drill testing; or
• identified new targets or rerated prospects such as Black Range which the company hopes will emerge into new prospects and potentially new discoveries.
New Black Range Prospect
Mr Rosenstreich said geochemical results at Black Range , when combined with geophysical data, rock chip sampling and geological mapping, are particularly encouraging and have significantly elevated the priority ranking of Black Range to effectively become a ‘new’ prospect.
Anomalous Cu-Bi-In-Sn-W in lag samples have been contoured extending over an area of six km by 1.7km trending east-northeast. Historical underground workings occur in this area which was highlighted by nearby ‘conductive’ anomalies by the 2021 aerial electromagnetic surveys (VTEM).
Recent geological mapping and rock chip sampling has identified outcropping copper mineralization with anomalous copper assays up to 2.6% Cu from rock chip samples.
“Black Range is emerging as a high priority copper-base metal prospect,” Mr Rosenstreich said.
For further information please visit: https://www.helixresources.com.au/
