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Helix Resources (ASX:HLX) - Managing Director, Mike Rosentreich
Managing Director, Mike Rosentreich
Source: Business News
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  • Helix Resources (HLX) has identified 24 high priority copper targets along its Cobar exploration tenements in central NSW
  • These targets were identified via an electromagnetic (EM) survey which focused on refining and confirming the scope of the EM anomalies in areas of interest
  • All up, Helix’s surveying system flew more than 2300 kilometres over the Collerina, Rochford and Meryula trends
  • These trends consist of magnetic and EM highs, strong copper mineralisation and discrete EM anomalies
  • Work has now begun on follow-up surface and downhole EM surveys to better position the targets for upcoming drilling programs
  • Helix is steady on the market this morning with shares trading at 1.3 cents

Helix Resources (HLX) has identified 24 high priority copper targets along its Cobar exploration tenements in central NSW.

These targets were identified via an electromagnetic (EM) survey which focussed on refining and confirming the scope of the EM anomalies in areas of interest.

Geophysical consultant Russell Mortimer from Southern Geoscience Consultants (SGC) was hired to aid in the planning of the survey and oversee the delivery of the data.

All up, Helix’s surveying system flew more than 2300 kilometres over the Collerina, Rochford and Meryula trends.

Collerina

Eight high priority targets were identified at the Collerina Trend which will be the focus for upcoming drilling.

These targets consist of magnetic and EM highs, and many of them have not been subject to previous drilling.

Additional EM anomalies were also identified along copper prospective trends to the north of previous versatile time domain electromagnetic (VTEM) workings.

Rochford

At the Rochford Trend, Helix identified 10 high-priority targets.

These targets consist of discrete EM anomalies, strong copper mineralisation and anomalous drill intercepts.

Meryula

The remaining six targets were found along the Meryula Trend.

The targets consist of discrete EM anomalies near historical workings and discrete EM anomalies on target stratigraphy.

“The survey has been a tremendous success. It has identified numerous opportunities to discover more high-grade copper sulphide mineralisation as both extensions of existing deposits and for new discoveries,” Managing Director Mike Rosentreich commented.

“This is the first time we have coverage of all our copper trends enabling us to rank and prioritise all the target positions and focus our efforts at the highest-ranking targets first,” he said.

“This is a really compelling outcome and we have responded quickly with follow-up surface EM surveys and field inspections already underway to better define these targets,” he added.

Work has now begun on follow-up surface and downhole EM surveys as well as geochemical sampling and mapping to better position the targets for upcoming drilling programs.

Drilling is then planned to begin in April with results to be announced as work progresses.

Helix is steady on the market this morning with shares trading at 1.3 cents at 10:49 am AEDT.

HLX by the numbers
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