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Helix Resources hits 5.2% copper at Collerina project in NSW

Drilling results will be included in preparation of a maiden JORC resource.
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Helix expects to resume drilling at Collerina this week

Helix Resources Ltd (ASX:HLX) has received high-grade results of up to 5.2% copper from a second batch of assays at its Collerina Copper-Zinc Project in central NSW.

A reverse circulation and diamond drill program has returned further high-grade copper from zones of chalcopyrite bearing massive and semi massive sulphide.

The best result was 4 metres at 5.2% copper, 0.3 g/t gold and 1.0% zinc from 278 metres, including 1 metre at 10.1% copper, 0.9 g/t gold and 2.7% zinc.

EM conductance tested

This is an important result in the plunge portion of the Central Zone as it tested a zone of strong off-hole electro-magnetic (EM) conductance.

In addition, two separate high-grade copper intercepts were found in the 180-metre gap between the central mineralisation and the deeper plunge plane results returned in mid-2018.

High-grade results

Key results are 4 metres at 2.5% copper from 195 metres, including 1 metre at 9.2% copper and 0.2 g/t gold, and 4 metres at 2.4% copper 0.2 g/t gold and 1% zinc from 222 metres, including 1 metre at 6.1% copper, 0.4 g/t gold and 3.3% zinc.

These results confirm the continuity of the central zone mineralisation throughout the plunge plane, which remains open at depth.

They also illustrate the relationship between localised zones of strong EM conductance and high-grade copper within the massive sulphides.

Resource estimate this quarter

The drilling program at Collerina is set for completion by the end of January.

Results will be included in a maiden JORC resource, which will be reported during the current quarter.

Electromagnetics and a refined modelling method have been effective tools in the deeper drilling at Collerina and will be used to vector towards higher copper grades.

- Jessica Cummins



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