THE DRILL SERGEANT: Helix Resources (ASX: HLX) reported new RC drill assay results from the company’s emerging Bijoux prospect located in the company’s western tenements in the Cobar-Nyngan area of central New South Wales.

Helix Resources said the latest drilling had produced encouraging copper grades while greatly increasing the mineralisation footprint of the Bijoux prospect.

Best intercepts include:

BJRC019
2 metres at 2.92 per cent copper within 26m at 0.58 per cent copper from 84m in (sulphide);

BJRC016
2m at 1.83 per cent copper within 10m at 0.72 per cent copper from 132m in (sulphide); and

BJRC015
2m at 1.73 per cent copper within 4m at 1.06 per cent copper from 132m in (sulphide).

“We are excited with the latest batch of assays from Bijoux which have delivered encouraging grades as well as significantly expanding the prospect’s strike length,” Helix resources managing director Kylie Prendergast said in the company’s ASX announcement.

“The prospect remains open – both at depth and along strike – and we intend to follow these results with further drilling.

“Bijoux is a prime example of the experience and tenacity current management have applied to the company’s large-scale Cobar tenements.

“Having been identified and prioritised through a comprehensive geochemical program, the team have worked systematically via further auger and RC drilling to test our CSA-style copper model.

“Today’s assays validate this approach and continue to highlight that in an area as rich as the Cobar Basin, quality exploration means the company is potentially just one drill hit away from a new discovery.”

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

THE DRILL SERGEANT: Helix Resources (ASX: HLX) reported on geochemical sampling it recently conducted in search of new copper-gold deposits in the company’s Eastern Group Tenements located near Nyngan in central New South Wales.

Helix Resources’ efforts produced more than 600 auger sample assays from the Eastern Group Tenements, which its claims to have confirmed the Collerina Copper Trend as a major prospective zone with elemental signatures indicative of copper-gold deposits in similar style to nearby Aeris Resources’ Tritton copper deposit.

The company declared the geochemical infill results confirm the tenor and scale of pathfinder element anomalies identified at several targets:

o Numerous +20ppb gold (Au) assays have been returned, with peak values of 187ppb Au, 39ppb Au and 44ppb Au at Max’s Folly, Alderbaran and Gwinear respectively, with the sample grid infilled to 50m x 50m at Max’s Folly and Alderbaran, and to 100m x 50m at Gwinear.

o Several Au anomalies have been defined at Tarawera and Iowaba, with numerous +20ppb Au assays, with peak values of 37ppb Au and 59ppb Au respectively, with the sample grid infilled to 50m x 50m in multiple areas.

“The auger infill programs continue to confirm there are significant geochemical anomalies along the prospective corridor we refer to as the Collerina Copper Trend, which extends south from the Aeris Resources copper tenements through Helix’s Eastern Group Tenements for over 100km of strike length,” Helix Resources managing director Kylie Prendergast said in the company’s ASX announcement.

“The results demonstrate this is a major prospective zone and the signatures we are observing in the data are consistent with signatures for Tritton-style copper gold deposits.

“Helix is working proactively around crop and weather constraints to progress programs in all accessible areas, bringing targets to a drill ready stage as efficiently as possible.

“There are also several large areas along the prospective trend which are proposed for aircore drilling as they are essentially unexplored, given airborne VTEM geophysics may not have tested through the alluvial clays.

“Helix is focused on advancing several priority targets in its pipeline which we believe have potential to deliver a new copper-gold discovery in the highly endowed, Cobar region close to established operations and processing facilities.”

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

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

THE DRILL SERGEANT: Helix Resources (ASX: HLX) posted an interim maiden Indicated and Inferred Mineral Resource estimate for the Central Zone portion of the company’s Collerina copper deposit in the Cobar Region of Central New South Wales.

Helix Resources believes the high-grade copper from near surface at Collerina provides scope for potentially advantageous development optionality with the project being well located in a region with increasing development and exploration activity.

The interim Indicated and Inferred Mineral Resource estimate is 2.02 million tonnes grading 2.03 per cent copper, 0.1 grams per tonne gold and includes a high-grade massive sulphide component of 1.4 million tonnes grading 2.6 per cent copper, 0.2g/t gold.

The company explained this Resource announcement was delayed from earlier expectations due to the undertaking of a reinterpretation of the mineral system’s localised geometry, particularly in the deeper parts of the system, and with several delays in drilling.

The company considers the new interpretation will be a critical part in the planning for future drilling to expand on the Resource estimate.

The review established a robust and refined interpretation of the broader Collerina copper system and provided clear vectors to expand the known copper mineralisation envelope, well beyond the current drill pattern.

“The interim resource modelling process has substantially improved our overall understanding of the controls on the distribution of copper at the Collerina deposit,” Helix Resources managing director Mick Wilson said in the company’s announcement to the Australian Securities Exchange.

“Due to the drill density so far, only a modest portion of the Collerina system can be converted to JORC 2012 compliant resources at this stage.

“However, the low discovery costs to date and near-surface high grade copper reporting in the fresh portion of the Central Zone Plunge underpin the projects emerging value.

“Drilling in adjacent target areas, particularly up and down dip of the Central Zone Plunge are clear priorities.

“Our confidence in the refined geological shape and understanding of the structural controls on copper distribution and enrichment, with further drilling, we expect to see significant portions of the surrounding Exploration Target shape included in a deposit scale resource estimate.”

Email: helix@helix.net.au

Website: www.helix.net.au

THE DRILL SERGEANT: Helix Resources (ASX: HLX) has been asked by its funding partner, JOGMEC, to fast-track drilling at the company’s Samuel copper project in Chile.

Helix Resources said JOGMEC has requested for the fast-tracking of drilling following the positive outcomes from the field surveys in the initial phase of geophysics and surface sampling.

The drilling is intended to test historic copper oxide workings, in an area of coincident geophysical anomalism, copper geochemistry at surface and local structural complexity.

The first hole is expected to be drilled to a depth of 400 metres to pass under the copper workings, continuing into fresh rock to test for manto-style copper and/or porphyry style copper mineralisation at depth.

“We are excited to see positive results returned from the initial field campaign at the Samuel copper project JV in Chile,” Helix Resources managing director Mick Wilson said in the company’s announcement to the Australian Securities Exchange.

“Our JV Partner, the highly regarded Japanese organisation JOGMEC, has requested the JV to move immediately to drilling and is fully-funding the programs.

“With third-party funding covering costs in Chile over the next few years, it allows Helix to retain exposure while the projects are de-risked.

“Importantly it allows Helix to continue to focus our main efforts on the advancement of our flagship copper assets in New South Wales, where a Maiden Resource for the Collerina project is imminent.”

Email: helix@helix.net.au

Website: www.helix.net.au