Helix Resources (ASX:HLX) - Managing Director, Mike Rosenstreich
Managing Director, Mike Rosenstreich
Source: Helix Resources [Twitter]
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  • Helix Resources (HLX) will begin drilling today at its Canbelego Copper Project in New South Wales
  • Drill contractor Mitchell Services mobilised to site yesterday and will begin drilling diamond hole CANDD001 to target an untested downhole electromagnetic (DHEM) conductor
  • Recently, advanced processing algorithms were used to re-process the DHEM data and it defined a steep-plunging plate extending beyond the resource
  • Once drilled, core from hole CANDD001 will be used for preliminary metallurgical testwork
  • This hole forms part of a much larger 1100-metre drilling program that is designed to test for depth extensions to the existing JORC 2004 mineral resource
  • Shares in Helix are steady on the market and are trading at 1.6 cents

Helix Resources (HLX) will begin drilling today at its Canbelego Copper Project in New South Wales.

The Canbelego Project is held in joint venture with Aeris Resources (AIS), with the former holding 70 per cent and the latter holding the remaining 30 per cent.

Drill contractor Mitchell Services mobilised to site yesterday and will begin drilling diamond hole CANDD001.

This hole will be targeting an untested downhole electromagnetic (DHEM) conductor identified in previous drilling programs.

Recently, advanced processing algorithms were used to re-process the DHEM data and it defined a steep-plunging DHEM plate extending beyond the current resource.

Once drilled, core from hole CANDD001 will be used for preliminary metallurgical testwork.

This hole forms part of a much larger 1100-metre drilling program that is designed to test for depth extensions to the existing JORC 2004 mineral resource.

“Whilst we don’t plan to report results ‘hole by hole’ we thought it was important to signal to shareholders that we have started the work they have invested into,” Managing Director Mike Rosenstreich said.

“The recent VTEM survey has been a great success and has highlighted the Canbelego area as a high-priority target prospective for significant increments to the current copper resource defined there,” he added.

Helix is also undertaking surface electromagnetics over the new anomalies adjacent to the Canbelego Project to better define targets.

Shares in Helix are steady on the market and are trading at 1.6 cents at 1:30 pm AEST.

HLX by the numbers
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