Helix Resources Ltd (ASX:HLX) has reviewed historical data from its Muriel Tank gold project located in central New South Wales and with Just the Facts is Proactive’s Tylah Tully.
Both the quartz vein and wall rock samples at Muriel Tank revealed high-grade gold is present.
Highlights included 13.8 grams per tonne and 28 grams per tonne gold at Butlers, 33.8 grams per tonne in wall rock at Fettlers and 15.5 grams per tonne gold at Browns Hope.
Previous RC drilling also recorded significant intercepts, including three metres at 1.47 grams per tonne from 30 metres and one metre at 1.74 grams per tonne gold from 34 metres.
The project area is known for its historical gold mining and spans five by 1.5 kilometres and includes multiple old mine shafts that produced high-grade gold ore estimated around 15 grams per tonne.
It’s also located near Manuka Resources’ Mt Boppy Gold Mine, which has a history of high-grade gold production.
Helix is optimistic about discovering additional gold resources, particularly given the high global gold prices and nearby processing infrastructure.
Helix’s managing director, Kylie Prendergast said, “With the historical compilation largely complete, the untested opportunities in the Gold Project are clearly emerging.
“Historical gold is reported over a sizable 5.5km by 1km area and previous drilling was very patchy. Our new regional structural model gives us an edge in understanding the controls on the mineralisation and hence, where we might find more, especially under cover.
“International gold prices are high, and Muriel Tank is well located close to current processing infrastructure suitable for gold recovery including the new plant under construction at the Mt Boppy Gold Mine 20km to the west as well as Aurelia’s Peak Plant and Kingston’s Mineral Hill Plant – though further away.
“Helix is focused on advancing several priority targets in its pipeline which we believe have potential to deliver a new copper-gold discovery in the highly endowed, Cobar region close to established operations and processing facilities.”