A cashed up Helix Resources Limited (ASX:HLX) has commenced a regional scale, detailed airborne electromagnetic (EM) on its Cobar copper projects in NSW.
A total programme of approximately 2,000 line-kilometres utilising the VTEM MAX system is being flown by UTS Geophysics (GeoTech) to cover the remaining 75% of Helix’s prospective copper corridors with no coverage. Results and interpretations are expected in March 2021.
Managing Director, Mike Rosenstreich, said regional EM surveys have proven very successful in the Cobar region at identifying sulphide-mineral, copper deposits. Only 24 km of the total 95 km of prospective copper trends on Helix’s 1,500 sq. km ground position has had airborne EM coverage. This is focused around the Central Zone deposit1 in the southern portion of the CollerinaCopper Trend.
This is an important data set; EM is a key discovery tool in the Cobar region. Yet, 75% of our prospective copper corridors remain untested,” Mr Rosenstreich said.
“The results of this regional scale EM survey will allow our team to hopefully identify new targets and with the existing prospects – prioritise our work programs and expenditure to ensure that we are focussing on the best targets.
”It’s very exciting that as we close last week’s very successful $3 million capital raising we are already starting a major exploration programme which we consider will lead to a major drill test programme through the remainder of the year.”
The VTEM MAX system from UTS Geophysics (GeoTech) has been recommend to Helix by its geophysical consults, Southern Geoscience, as an appropriate system for the potential discovery of new copper-sulphide mineralisation to complete the survey outlined below.
Helix flew a similar style of survey in late 2016 over the new Central Zone (CZ) discovery in the southern portion of the Collerina Trend. The CZ deposit appears as a subtle, but discrete and identifiable conductor in the VTEM data. Regionally, AerisResources Ltd recently made a new copper discovery at its Constellation prospect using the VTEM MAX EM platform.
The current program is designed to complete coverage over the Company’s currently known ‘copper trends’, with approximately 2,000-line km planned to cover the remaining 65km of prospective copper trends. The survey has been divided into 4 segments, covering the remainder of the Collerina Trend and all of the untested (by airborne EM) Rochford and Meryula Trends.
The VTEM MAX survey data will form a vital regional data set for ranking targets and prioritising future work. The objective is also to identify new targets which will be followed by ground EM, surface geochemical sampling and geological mapping to define drill-ready targets.
The company’s current focus is its exciting copper and gold projects located near Cobar in New South Wales. The Cobar Region is highly endowed, with a number of gold and base metals mines active in the region including the CSA Mine, Peak Mine, Tritton Copper Operations and Hera Mine.
Helix expects to complete the initial survey and interpretation work in March.