Helix Resources Ltd (ASX:HLX) has pinpointed two new drill targets at its Canbelego Copper Project in central NSW, following a successful trial of the induced polarisation (IP) geophysical survey technique.
Potential for expansion
The IP survey not only confirmed the presence of the known Canbelego Main Lode mineral resource but also highlighted the potential for additional parallel lodes that could significantly expand the size of the copper deposit.
This survey detected three distinct IP chargeability anomalies, suggesting areas rich in sulphide mineralisation to a depth of 400 metres.
Two undrilled anomalies have been identified: one (Central) potentially extends and thickens the Western Lode system, and the other (Western) lies 600 metres west of the Canbelego Main Lode, at a depth of 135 metres.
Helix executive technical director Kylie Prendergast said: “While it is still early days, the application of IP geophysics is looking like a game-changer for Helix and our exploration of the Rochford Trend.
“Copper mineralisation occurs as ‘sulphide’ minerals in either disseminated, vein stockworks or sometimes massive-sulphide textures. The latter can be conductive and to date, we have relied on measuring that massive, conductive feature utilising electromagnetic or EM survey techniques to identify potential deposits.
Cost-effective, direct detection
“However, at Bijoux we intersected copper sulphides at grades well above 1% copper but occurring as veins and disseminations and hence unlikely to give an EM response.
“IP detects sulphide minerals regardless of the textures and we think this technique offers a very cost-effective, direct detection method for finding new copper deposits in the Cobar district.
“With our multi-disciplinary approach including pathfinder geochemistry, we think IP can identity quite ‘refined’ drill targets or eliminate targets, which offers significant savings on drilling expenditure and time.
“We will now move on to build a fuller picture of the Rochford Trend copper potential by expanding to a wide coverage gradient array IP geophysical survey over known surface copper anomalies and where drill holes have intersected copper sulphide mineralisation, such as the Cabellero and Bijoux prospects.
“This is an exciting development; fast-tracking Helix on a discovery pathway while saving money and optimising our drill targeting.”
What’s next?
The company plans to conduct a Gradient Array IP survey across a 9-kilometre section of the Rochford Copper Trend, aiming to optimise and offset some of the planned drilling activities.
This survey is expected to provide a broader understanding of the copper potential within the trend, including the Bijoux copper auger anomaly.
The Canbelego project, a joint venture with Aeris Resources Ltd (ASX:AIS, OTC:ARSRF), where Helix holds a 70% interest, represents a promising opportunity for the discovery of new copper deposits in the Cobar district.
With the successful application of IP geophysics, Helix Resources is poised to fast-track its exploration efforts, which will lead to significant cost savings and optimised drill targeting.