Helix Resources Ltd (ASX:HLX) is rapidly delineating key zones that correlate with known copper anomalism at the Canbelego and Caballero joint venture projects in central New South Wales.
The company is enjoying continued success with its IP geophysical survey techniques, with a new gradient array induced polarisation (GAIP) survey at Canbelego Main Lode identifying a highly prospective conductive zone of more than 1,200 metres, extending north of Canbelego and coincident with surface copper geochemical anomalism.
There are now three, new, undrilled, prospective target zones around the Canbelego copper resource that have been defined by recent geophysical surveys.
This conductive zone, along with two IP anomalies recently identified west of the Canbelego Main Lode copper resource, highlights the potential to expand the existing copper inventory.
Helix also reported that a 2,400-metre conductive zone was identified from the GAIP survey at the Caballero Prospect to the south along the Rochford Copper Trend. These new geophysics anomalies at Canbelego and Caballero are largely undrilled.
The Canbelego and Caballero project areas are within EL6105, a JV with Aeris Resources Ltd (ASX:AIS, OTC:ARSRF) (Aeris Resources Ltd (ASX:AIS, OTC:ARSRF)); Helix holds 70% and manages the JV, Aeris 30%. The Bijoux prospect, also being surveyed but with results pending, is 100% held by Helix as with the rest of Helix’s Cobar regional tenements.
Canbelego target location plan.
Helix executive technical director Kylie Prendergast said: “The new geophysical survey results show there are significant new copper targets in close proximity to known, high-grade copper mineralisation at the Canbelego deposit.
"This is generating a lot of excitement in the Helix team on our ability to expand our Canbelego copper mineral resources with drilling scheduled to start in May.
“Helix is strongly focused on growing its copper endowment in the prolific Cobar region and is systematically assessing its entire tenement portfolio with innovative methods to make new discoveries.
"So, we are very pleased to report that following on from the initial Pole-Dipole Induced Polarisation (PDIP) geophysical surveys, we have successfully deployed wide coverage GAIP geophysics to refine the location and extent of conductive zones at Canbelego and Caballero, so far.
“We have high confidence that the conductive zones represent mineralised structures due to the correlation of copper geochemical anomalism at surface with these conductive zones and our new geological modelling.
"Now we will move to test the anomalies with PDIP geophysics. This will test down to depths of about 400 metres and we will be seeking to identify chargeability zones that could represent sulphide copper mineralisation, ideally similar to those that we identified very effectively with this technique at the high-grade Canbelego deposit.
“Helix is systematically generating a large pipeline of targets which it will further refine, prioritise and then test the best of them with drilling in May subject to weather.“
What’s next?
Helix will commence follow-up geophysics next week (subject to weather) over both prospective areas to better define targets.
Follow-up PDIP lines are in progress in the Canbelego-Caballero corridor which Helix expects to be completed in late April. Data processing for the Bijoux GAIP survey is also in progress and is expected to be completed in mid-April, and follow-up PDIP lines will be planned after that.
Drilling of existing and new PDIP chargeable anomalies is planned to commence in mid-May.