Helix Resources Limited (ASX: HLX) has intersected significant shallow copper (Cu) mineralization as observed in RC drill chips in its drilling activities at the Canbelego Copper Project located southeast of Cobar in central NSW, Australia.
A RC drilling programme commenced on 17 January 2023 to test for extensions of shallow high- grade copper mineralization at the Canbelego Main Lode is now complete. A total of 906m was drilled in seven holes.
Significant copper mineralisation was observed in five drill holes following up extensions of a high-grade interval (16m at 3.21% Cu from 117m in CBLRC057).
Managing Director Mike Rosenstreich said visual logs indicate weak, medium and strong copper mineralization extending 60m up dip from CBLRC057 over downhole widths of 12m to 51m. This zone extends approximately 120m along strike to the south of the historic workings, with mineralization open towards the workings.
Mr Rosenstreich said assays are pending, but these observations are very encouraging for important extensions of shallow high-grade copper mineralization which could add to the tonnes and grade of the existing 2010 Inferred Mineral Resource estimate of 1.5 million tonnes at 1.2% Cu.
Preparations are underway to complete an updated Mineral Resources estimate in March 2023 subject to timely receipt of all required assay results.
Diamond Core Drilling: A deeper diamond drilling programme resumed on 13 January to test highly conductive geophysical targets interpreted as high-grade copper shoots, reported in December 2022.
Drillhole CANDD016C is underway at approximately 550m depth approaching the target zone. Hole CANDD016A deviated away from the target point significantly despite several ‘Navi-cuts’ and other directional interventions to steer the hole back online. It did intersect significant zones of copper sulphide mineralization at the Main Lode shear position, but the observed mineralization does not explain the intense downhole electromagnetic (DHEM) conductive response that defines the target.
A subsequent attempt to ‘run-off’ a daughter hole (CANDD016B) from 396m downhole was unable to achieve sufficient divergence from the parent hole (CANDD016) to attain the target trajectory and was abandoned.
CAND016C has been successfully wedged off from 280m downhole and is currently on track to hit the central position of the high-conductance target.
“Early indications from the RC drill logging – with significant copper mineral abundance observed, is very encouraging for us to extend the new shallow high-grade copper zone identified in October last year; 16m at 3.2% Cu,” Mr Rosenstreich said.
“The team has identified large gaps in the historical drill coverage and saw the potential for extensions of this high-grade mineralization up dip and north toward the historical workings. We are rushing these samples to the assay lab.
“Deeper diamond drilling is continuing, and we are hoping to intersect high-grade copper shoots as indicated by very strong geophysical anomalies unlike anything we have recorded previously.
“I was on site for the past two weeks and have witnessed first-hand the unpredictable ground conditions the team have faced while steering the hole on target.
“We appear to be tracking well with hole ‘16C. If our interpretations of the geophysical targets are correct, we may have some spectacular photos of copper mineralization in drill core to share soon.”
