Helix Resources Ltd (ASX:HLX) is undertaking a six-hole exploration drill program at the Collerina Copper Deposit, located in the Cobar Basin in New South Wales.
The project is hosted within a 150 kilometre proven copper trend.
The first hole of the drill program returned: 16 metres at 1% copper and 0.7% zinc from 173 metres.
To continue with the next steps, Helix is heading to market with a capital raising, and the ASX has granted a trading halt to prepare.
The halt will remain in place until the opening of trade on Friday 24th November 2017, or earlier if an announcement is made to the market.