Helix Resources Limited’s (ASX: HLX) has extended the high-grade copper shoot at Canbelego Main Lode with assay results from three diamond drill holes at the Canbelego Joint Venture Project located in the Cobar region of NSW.
Highlights from the assays from the diamond drill holes completed in February 2022 include:
- 5.3 metres (m) at 3.4% copper (Cu) from 421m downhole in CANDD006 (only partial assays received to date for lower portion of the drill hole) which was drilled to test down-plunge of the high-grade massive copper sulphide zone which yielded 14m at 4.2% Cu and reported visually on January 19, 2022.
- A narrow high-grade interval of 1m at 4% Cu was also intersected in CANDD007 beneath the historic workings.
- Only minor copper-mineralised intervals were intersected in CANDD009
We are now getting some depth extent on the high-grade, massive copper-sulphide shoot structure – and there is excellent potential for it to develop more at depth,” Managing Director Mike Rosenstreich said.
“Excitingly, these results are, consistent with our Cobar style deposit model which is typified by parallel mineralised zones with very long vertical dimensions containing high grade copper.
“The exploration team has focused on systematic, detailed geology resulting in a new interpretation of which direction the high-grade copper zone is trending. This might explain the near miss in CANDD005 and now it really opens the depth potential of the Main Lode and it may also apply to the new parallel lodes identified earlier this year.
“We are in an incredibly strong position; well-funded, with an expanded fulltime locally based exploration team who are making discoveries and technical breakthroughs with many targets to test on our large, strategic ground position.”
Drilling resumed at Canbelego in late April. This mixed programme of approximately 10,000 metres across 50 diamond core and reverse circulation (RC) drillholes is designed to test depth extensions of the Main Lode and scope out higher-grade outlines on the new lodes identified to the west.
The drill rig will also be deployed to test the Caballero prospect, which is approximately 2.5km to the southeast of the Main Lode. Planning work is also well advanced for major regional programs at both the Rochford and Collerina Trends.