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Helix Resources (ASX:HLX) - Managing Director, Mike Rosenstreich
Managing Director, Mike Rosenstreich
Source: Helix Resources [Twitter]
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  • Helix Resources (HLX) intersects up to 7.01 per cent copper from its Canbelego Copper Joint Venture Project in New South Wales
  • The company has received results from two holes which were drilled in areas where geological estimates of copper sulphides were previously reported
  • An additional hole was drilled to test for shallow extensions of a chalcopyrite shoot and intersected 25.8 metres of copper sulphide mineralisation
  • A further hole is now in progress to test the down-plunge potential of the shoot with results to be reported on soon
  • Shares in Helix are down 2.94 per cent and are trading at 3.3 cents at 11:31 am AEST

Helix Resources (HLX) has intersected up to 7.01 per cent copper from its Canbelego Copper Joint Venture (JV) Project.

Held in joint venture with Aeris Resources (AIS), the Canbelego Project lies within the highly mineralised Cobar Basin in New South Wales.

Helix has received results from two holes which were recently drilled in areas where geological estimates of copper sulphides (chalcopyrite) were previously reported.

Best results include 14 metres at 4.22 per cent copper from 253 metres, including three metres at 7.01 per cent copper from 352 metres and four metres at 5.94 per cent copper from 358 metres.

While gold assays are pending, Helix expects to receive only minor values.

An additional hole tested for shallower extensions of the chalcopyrite shoot and intersected 25.8 metres of copper sulphide mineralisation grading one per cent dispersed chalcopyrite from 252 metres.

A further hole is now in progress to test the down-plunge potential of the chalcopyrite shoot, with results to be reported on soon.

“These results demonstrate the high-grade potential within the overall broader Canbelego copper lode structures which have been extended significantly by this drilling program to date,” Managing Director Mike Rosentreich said.

“The exploration team is doing a great job and we are currently recruiting additional geologists to build up our team as well as establishing our new exploration facilities in Orange, NSW.”

Shares in Helix were down 2.94 per cent and were trading at 3.3 cents at 11:31 am AEST.

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