- Helix Resources (HLX) has started reverse circulation (RC) drilling at the Canbelego copper project in New South Wales
- The company plans to drill 1000 metres across six to eight holes to infill shallow copper mineralisation ahead of an updated mineral resource estimate (MRE)
- Helix is also progressing diamond drilling of conductive targets at the Canbelego Main Lode and initial results are expected in late January
- Shares in Helix are trading steady at 0.9 cents at 11:30 am AEDT
Helix Resources (HLX) has commenced reverse circulation (RC) drilling at the Canbelego copper project in New South Wales.
The company plans to drill approximately 1000 metres, comprising six to eight holes, to infill shallow copper mineralisation ahead of an updated mineral resource estimate (MRE) planned for late March.
Results from October 2022 highlighted possible extensions of high-grade copper mineralisation at shallow levels which this drilling plans to infill.
The company is also progressing diamond drilling of conductive targets at the Canbelego Main Lode and initial results are expected before the end of this month.
Managing Director Mike Rosenstreich said the company is hoping to intersect high-grade copper shoots with the deeper diamond drilling.
“Preliminary, visual results should be available in late January,” Mr Rosenstreich said.
“The ‘near-miss’ drill outcome we reported recently highlights the unpredictable ground conditions where we haven’t drilled before and the requirement for sophisticated, highly technical directional drilling technology.”
Canbelego is a joint venture with local copper producer Aeris Resources (AIS). Helix holds 70 per cent and is the manager and AIS is a contributing, 30 per cent partner.
Shares in Helix were trading steady at 0.9 cents at 11:30 am AEDT.