Helix (ASX: HLX) hits large, strong and open copper Caballero
October 4, 2022Helix Resources has revealed up to 1.8 per cent copper just 50 meters above 120 meters of faint mineralisation and silica-chlorite alteration zone over a 120m zone from 254m downhole at drill testing several early-stage targets along the Rochford Trend southeast 3km south of Canbelego Main Lode within its Cabellero project near Cobar, NSW.
The first drilling at the site in eight-year has provided significant, open-ended zones for further drilling a downhole electromagnetic (DHEM) survey is planned for this important emerging prospect which effectively remains open in all directions.
Additional anomalous intervals intercepted in the ‘lode’ positions; significant intercepts include 3m at 1.1%Cufrom94m(CBLRC031) and 3m at 1.0%Cu from 27m (CBLRC034).
“These results indicate we have identified a significant copper-mineralised system at Caballero – the scale and intensity of the alteration zone in the diamond hole, supported by highly anomalous copper assays in the RC hole, are very encouraging,” Managing Director Mike Rosenstreich said.
“The team is excited about these early-stage results at Caballero. We will reassess our priorities and ongoing work program, as we think persistence could pay off around the West Lodes mineralisation.
“It has been interrupted by weather-related access issues and queues in the assay lab. Nonetheless, we are already preparing for the follow-up campaign, including additional drilling at Caballero, a program of ‘bold’ deep holes we have planned at Canbelego Main Lode to test for depth extension, and our ongoing regional target generation work.”
The Company plans to continue testing and the turnover of targets – reprioritising the best for follow-up work.
The Company’s ASX shares are 7c.
About Helix Resources
Helix Resources is an ASX-listed resources company that’s ‘all-in copper exploration in the prolific copper-producing region of Cobar, NSW. The Company possesses a sizable ground position across two tenement groups largely untested despite being located within ~50km of significant copper-producing operations. The western tenement consists of 30km of contiguous strike, and the Company is advancing a pipeline of wholly-owned copper opportunities and the Canbelego JV Project (70% owned and operated by Helix and 30% owned by Aeris Resources), where massive copper sulphides have been intersected. The eastern tenement group encompasses more than 150km of prospective strike and includes the CZ copper deposit.
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