Aeris Resources Ltd (ASX:AIS) (OTCMKTS:ARSRF) has welcomed high-grade assay results from its Canbelego Copper Joint Venture project (30%:70%) with Helix Resources Ltd (ASX:HLX).
Results for diamond drill hole CANDD001 intersected 2 metres at 3.07% copper within a broader interval of 11 metres at 1.10% copper from 270 metres downhole.
Drill hole CANDD002 intersected 14 metres at 4.22% copper from 253 metres downhole, including
- 3 metres at 7.01% copper from 352 metres; and
- 4 metres at 5.94% copper from 358 metres.
In addition, a new mineralised position above the main lode was also intersected which assayed 2 metres at 3.1% copper from 118 metres within a broader mineralised 12 metre envelope from 110 metres downhole.
“Results demonstrate high-grade potential”
Helix managing director Mike Rosenstreich said: “These results demonstrate the high-grade potential within the overall broader Canbelego copper lode structures – which have been extended significantly by this drilling program to date.
“The higher-grade zones have typically been narrower so to intersect 14 metres at 4.2% copper, at a likely true width of 10 metres, is a very positive surprise.
“The exploration team is doing a great job, and we are currently recruiting additional geologists to build up our team as well as establishing our new exploration facilities in Orange, NSW to enable us to reach and maintain a more active exploration program following our recent successful capital raising.”
Assays pending for two drill holes
The observed copper sulphides in drill hole CANDD003 may extend the strike at this depth by around 200 metres to the north.
A fourth diamond drill hole, CANDD004, tested for shallower extensions of the higher-grade, more intense chalcopyrite shoot in CANDD002 and intersected 25.8 metres from 252 metres downhole of copper sulphide mineralisation including:
- 8 metres with 1% disseminated chalcopyrite logged from 252 metres; and
- 4.8 metres with variable abundance of chalcopyrite logged from 273 metres.
Assays are pending for CANDD003 and CANDD004.
Schematic long section of Canbelego Copper deposit2 with recent assays results and intervals plotted for CANDD001 and CANDD002. CANDD003 & CANDD04 (complete – assays pending), and CANDD005 (In progress).
Drilling ongoing
A fifth diamond drillhole is underway to test ‘down-plunge’ of high-grade CANDD002 shoot – though progress has been impeded by wet weather.
Following further downhole electromagnetic (DHEM) surveys to assist in vectoring to the high-grade zones within the overall lodes, the joint venture partners will finalise additional drilling.
Going forwards, Helix plans to update the Canbelego mineral resource estimate (current inferred resource is 1.5 million tonnes at 1.2% copper), at the completion of the program.