Helix Resources Extends Target Zone For New Copper Lodes At Canbelego

THE DRILL SERGEANT: Helix Resources (ASX: HLX) is gearing up to commence drilling of a new, large scale Induced Polarisation (IP) geophysical target at the company’s Canbelego Joint Venture project with Aeris Resources (ASX: AIS).

Helix Resources explained the new IP target to be larger than the IP anomaly it has over the adjacent Canbelego Main Lode Copper Mineral Resource.

The NNW-trending Western chargeable anomaly has been extended to a strike length of 625 metres, and is more chargeable and larger than the anomaly associated with the Canbelego Main Lode.

This anomaly is outside the previously drilled area, but within the surface copper geochemical anomaly.

The depth to the top of the chargeable zone is approximately 130m vertical and is considered by the company as being a compelling drill target.

“Upcoming drilling will confirm if the compelling new IP geophysics anomaly at Canbelego represents a new zone of copper mineralisation and demonstrate that Canbelego has multiple near-surface copper lodes,” Helix Resources executive technical director Kylie Prendergast said in the company’s ASX announcement.

“Multiple copper lodes are a characteristic feature of several Cobar-style deposits including Metal Acquisition Limited’s large CSA copper deposit.

“Helix believes that the Canbelego copper deposit is analogous to the CSA copper deposit.

“To date, three separate high-grade copper lodes have been identified by drilling at Canbelego including the main lode copper resource and two smaller western lodes which are narrower but well developed.

“All of the lodes have geophysical IP anomalies however the new ‘far’ Western anomaly is the largest we have identified.

“IP geophysics was first deployed by Helix in early February as a tool to rapidly assess the near-surface potential of the Canbelego copper footprint, down to a depth of approx. 400 metres, for additional copper lodes or extensions to known copper lodes.

“It is now time to drill test the new targets and Helix is planning to bring a drill rig to site in the coming weeks.

“In addition, Helix continues to advance further high priority copper and gold targets in its portfolio in the prolific Cobar region.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE