ASX Announcement
23 July 2020
Cobar Gold Project - Exploration Update
Helix Resources Limited (ASX:HLX) (Helix or the Company) is pleased to provide an exploration update
for the Company’s Cobar Gold Project in Central NSW.
HIGHLIGHTS
Drilling Program
▪ Initial approvals have been received for the first phase of drilling, with a local drill rig confirmed
▪ The initial program will test the Amity’s Prospect, a robust 480m x 270m gold-in-soil anomaly1
(rock
chips up to 39.6g/t Au1
, and individual 1m reconnaissance drilling assays returned up to 3.74g/t Au1
)
▪ The program will also test priority targets at Reward, Battery Tank North, The Link and Republic,
followed by a host of other high-priority regional prospects
▪ Commencement of drilling is a priority, however the start date is subject to the evolving COVID related
travel approvals
Regional Program
▪ New zones have been identified with ongoing soil sampling and rock chip results (up to 4.13g/t
Au) providing support for the potential of the goldfield to yield further discoveries
▪ First-pass results, combined with the identification of important geochemical and structural vectors
continue to provide confidence in the overall scale potential of the goldfield
▪ The regional field program is continuing, with the aim of defining and infilling new gold zones, including
the northern portion of the goldfield, for first-pass drilling later in the field season.
Commenting on the upcoming program, Helix Executive Chairman, Peter Lester, said:
“We are excited about the commencement of drilling at the Cobar Gold Project and have long believed in
the potential for this area to host a significant gold-system, similar in style to the nearby Peak Gold Trend”.
“Our initial drill targets are well beyond the existing resource areas and could provide scope for progressive
expansion of our 118,800oz gold inventory currently attributed to the Project”.
“Early results from regional mapping and sampling are encouraging, with several gold rock chip results,
up to 4.13 g/t Au, from new zones across the gold field. These emerging areas are completely untested
by drilling. The Company is working through the latest COVID travel approvals, and we look forward to
commencing drilling as soon as possible”.
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