Helix Resources Ltd (ASX:HLX) has intersected broad intervals of high-grade copper in diamond and reverse circulation (RC) drilling at its Collerina Copper Project in NSW.
Initial results from three of the first six holes indicate high-grade copper from zones of chalcopyrite-bearing massive and semi-massive sulphides.
The drilling also demonstrates continuity of a thicker, high-grade copper-bearing sulphide mineralisation zone from a discovery hole of 14 metres at 4% copper from 80 metres.
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Results include an intersection of 10 metres at 3.7% copper, 0.17 g/t gold, 0.15% zinc and 6.6 g/t silver from 161 metres, which also hosts the highest-grade single metre assay returned for copper and silver at Collerina.
This record interval grades 1 metre at 19.7% copper, 0.33 g/t gold, 36 g/t silver and 0.5% zinc and infills a 90-metre gap between previous intercepts of 12 metres at 5% copper and 9 metres at 2.5% copper.
Another hole returned an interval of 8 metres at 2.2% copper, 1.1% zinc, 0.14 g/t silver and 4 g/t gold, which is also interpreted as an important ‘linkage’ intercept in the 180-metre gap between the central zone’s mineralisation and deeper high-grade intersections.
Maiden resource estimate
Helix managing director Mick Wilson said: “These initial results from the current Collerina drilling have seen some very strong copper results returned over thick intervals in important zones of the deposit.
“This increases our knowledge of the high-grade copper zones and our confidence in the geometry, continuity and grade distribution within the system.
“This is an essential step as we move to greater depths and will assist in completing a maiden resource estimate.”
Targeting extensions
Drilling is ongoing with Helix conducting downhole electromagnetic (DHEM) surveys on holes drilled and continuing with diamond tails on RC pre-collars deeper in the plunge zone.
The remaining holes are targeting EM conductor positions and substantial extensions of the high-grade central zone’s copper mineralisation at depth.
The program is expected to conclude within the next two weeks.