Helix has Canbelego’s measure and it shows with more copper hits
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Helix’s drilling has returned more high-grade copper hits that highlight the potential of its Canbelego joint venture project in New South Wales’ Cobar region.
It is not hard to see why when one receives assay results such as 14m grading 4.22% copper from 352m downhole that includes even higher grade zones of 3m at 7.01% copper from 352m and 4m at 5.94% from 358m in CANDD002.
To top it off, the same hole also intersected a new mineralised position with an intersection of 2m at 3.1% copper from 118m above the main lode.
Further demonstrating that Helix Resources (ASX:HLX) now has a clear understanding of what works at Canbelego, a fourth diamond hole that was designed to test for shallower extensions of the higher-grade, more intense chalcopyrite shoot in CANDD002, has intersected 25.8m of copper sulphide mineralisation from a depth of 252m.
“These results demonstrate the high-grade potential within the overall broader Canbelego copper lode structures – which have been extended significantly by this drilling program to date,” managing director Mike Rosenstreich said.
“The higher-grade zones have typically been narrower so to intersect 14 metres at 4.2% copper, at a likely true width of 10 metres, is a very positive surprise.
“The exploration team is doing a great job, and we are currently recruiting additional geologists to build up our team as well as establishing our new exploration facilities in Orange, NSW to enable us to reach and maintain a more active exploration program following our recent successful capital raising.”
Assays were received for CANDD001, which intersected a 2m zone grading 3.07% copper from 277.8m within a broader 18m intersection at 0.74% copper from 263m.
The company is also waiting on assays for gold in CANDD001 and CANDD002 though it only expects minor gold values.
Drilling is currently underway on CANDD005 that will test the down-plunge potential of the high-grade shoot intersected in CANDD002.
Additional drilling will be planned following further down-hole electromagnetic surveys that will assist in vectoring to the high-grade zones within the lodes.
This article was developed in collaboration with Helix Resources, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.