Aeris Resources Ltd (ASX:AIS) has welcomed strong ongoing copper results from joint venture partner Helix Resources Ltd (ASX:HLX) at the Canbelego Copper Project in proximity to its Tritton Copper Operations in central NSW.
Helix has intersected 29.5 metres of copper sulphide mineralisation in its second drill hole which around 80 metres down dip from the 24-metre interval of copper sulphide reported earlier this month.
That first drill hole intersected 24 metres (true width of 16 metres) of typical Canbelego-style copper sulphide (chalcopyrite) mineralisation from 257 metres downhole comprising discrete zones of disseminated chalcopyrite and veining.
The true width of the chalcopyrite mineralisation is estimated to be 22 metres.
Assays results for both drill holes are likely to be available in June 2021.
“Encouraging high-grade copper zone”
A second ‘copper position’ in the hanging wall of the second drill hole, between 90 and around 120 metres downhole, has also been intersected which may represent a second copper lens position, or structural repeat of the Canbelego copper mineralisation.
Helix managing director Mike Rosenstreich said: “This is an exciting hit – notably there is more massive copper mineralisation in this drill hole which is very encouraging for a high-grade copper zone when the assays come in.
“As a bonus, there is the possibility of a second copper position emerging after we intersected chalcopyrite veins much higher in this hole.
“Canbelego is one of Helix’s two advanced copper projects and a key objective of this drilling program and the EM surveys is to demonstrate the growth potential of the defined mineralisation at each of them.
“Clearly, these two recent drill holes at Canbelego have extended the copper mineralisation nearly 100 metres below the previous base of the mineralisation envelope, which I am sure will be confirmed by the assays expected in June.”
Both copper sulphide zones have been prioritised for sampling with copper, gold and other assays expected in June.
Schematic long section of Canbelego Copper deposit with re-processed DHEM conductor target and approximate location of drill hole pierce points for CANDD001 and CANDD002 (complete) and CANDD003 (in progress).
Ongoing exploration
Downhole EM (DHEM) surveys from both drill holes have indicated the presence of off-hole conductors with target modelling now underway.
Surface Fixed Loop EM (FLEM) is underway over the broader Canbelego area, where the 2021 airborne EM (VTEM MaxTM) survey identified several priority EM anomalies surrounding the current Canbelego mineralisation.
Additionally, a third diamond drill hole is also underway, testing for extensions to the copper mineralisation approximately 200 metres to the north.
The project, in which Helix has 70% and Aeris 30%, has an inferred mineral resource of 1.5 million tonnes at 1.2% copper and Helix plans to update the resource estimate at the completion of this program.