Helix Resources commences new Cobar drill program

THE DRILL SERGEANT: Helix Resources (ASX: HLX) has kicked off a program of diamond and aircore drilling on three gold prospects at the company’s Cobar gold project in New South Wales.

Helix has identified a number of gold targets at the Cobar gold project through soil geochemistry and previous drilling, which returned high-grade, near surface gold results at the Boundary, Good Friday and Sunrise prospects.

Helix said the current diamond drilling program has been designed to achieve a better understanding of the structural controls of the high-grade gold mineralisation at the Good Friday and Boundary prospects.

A 20 hole aircore program will be carried out at the Battery Tank prospect, which the company described as being a large gold in soil anomaly that remains untested by drilling.

The anomaly covers an area of 350 metres by 500 metres with historic pits and trenches on the south western edge of the prospect.

The new program follows previous drilling at the Cobar gold project, which returned near surface gold results including:

Good Friday Prospect:
25 metres at 25.5 grams per tonne gold and 18m at 3.2g/t gold.

Sunrise Prospect:
21m at 2.7g/t gold, including 13m at 4.2g/t gold and 30m at 2.2g/t gold.

Boundary Prospect:
15m at 2.3g/t gold within 70m at 1.1g/t gold.

“The potential for high-grade gold deposits on the Cobar gold project is very good with the nearby Mt Boppy gold mine an example of the systems present in the area,” Helix Resources said in its ASX announcement.

“Mt Boppy has a strike of not more than 150 metres, yet it produced approximately 500,000 ounces of gold with an average grade of 10 grams per tonne gold.”

Website: www.helix.net.au