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Helix Resources (ASX:HLX) - Non Executive Director, Tim Kennedy - The Market Herald
Non Executive Director, Tim Kennedy
Source: Helix Resources
  • Helix Resources (HLX) has identified potential mineralisation at the Collerina Copper Project in central New South Wales
  • Helix completed conceptual modelling work at the project to identify high-priority exploration targets
  • Pleasingly, the modelling identified several high-priority drill targets northwest of the current resource
  • Importantly, the work has provided further confidence that the current mineral resource can be increased
  • Helix plans to begin a 1200-metre reverse circulation drilling program in the upcoming quarter
  • Company shares have dropped 5.88 per cent and are trading for 1.6 cents

Helix Resources (HLX) has identified potential mineralisation at the Collerina Copper Project in central New South Wales.

The company completed conceptual modelling work at the project to identify high-priority exploration targets aimed at expanding shallow and near-surface mineralisation.

Pleasingly, the work gave the company increased confidence in the current geological model with mineralisation continuity expected to be enhanced with further drilling. This is aimed at increasing the current JORC resource.

"This initial conceptual work and the new 3D implicit modelling of the mineralisation are key tools in taking the Collerina Copper Project forward. We have also completed a full review of the geophysical surveys undertaken to date," Executive Chairman Peter Lester said.

"They will help refine the positioning and priorities for the next phase of exploration drilling by testing the new parallel copper target zones identified in drill programs earlier this year," he added.

Helix plans to begin a 1200-metre reverse circulation (RC) drilling program in the upcoming December quarter.

Company shares have dropped 5.88 per cent and are trading for 1.6 cents at 1:49 pm AEST.


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