Aeris Resources Ltd (ASX:AIS) welcomes confirmation by Helix Resources Ltd of further copper mineralisation at the Canbelego JV Project in the prolific copper-rich Cobar region of New South Wales.
The partners have received final assays for drill hole CANDD005 that include narrow 1-metre-high-grade intervals of up to 3.5% copper, surrounding the high-grade massive copper sulphides detected in hole CANDD002 – 14 metres at 4.2% copper.
Canbelego is a joint venture project with Helix holding 70% and Aeris the remainder. It is in the same region as Aeris' Tritton Copper Operations.
“Fantastic success”
Helix managing director Mike Rosenstreich said: “Final assays from Canbelego confirm further copper mineralisation surrounds the intersected high-grade massive sulphides, providing vital details for future drilling and resource modelling.
“This drilling campaign was the first diamond drilling activity at Canbelego since 2013 and to have already hit high-grade, massive copper is a fantastic success.
“We will now look to review and compile the data to model and better understand the controls on the higher grade, thicker copper zones.”
Targeting high-grade shoots
While continuation of the copper-sulphide (chalcopyrite) shoots intersected in CANDD002 were not intersected within this complexly deformed and folded host sequence, the results provide further information on both the associated rock units and geological controls which determine the position of the higher-grade shoots.
In addition, a downhole electromagnetic survey (DHEM) conducted on CANDD005 has identified a conductor which aligns with the down-dip position of the CANDD002 intersection, suggesting the massive chalcopyrite shoot may remain open at depth to the south of the intersections in CANDD005.
Future work will be directed at extending the broad mineralisation envelope and targeting potential high-grade shoots within, ahead of any resource modelling and development studies.
Plan view of Canbelego drill area.
Drilling results
To date, the JV has drilled five diamond drill holes (CANDD001 to CANDD005) for nearly 2,000 metres, since restarting exploration drilling around and beneath the Canbelego mineral resource in April 2021 after an eight-year exploration hiatus.
CANDD005 intersected gossanous veins with chalcocite and malachite in the oxidised zone and several sulphide intervals in the primary zone comprising disseminated, vein and stringer chalcopyrite mineralisation, and returned the following:
- 7.1 metres at 0.64% copper from 65.9 metres, including 1-metre at 2.53% from 65.9 metres;
- 6 metres at 0.74% from 108 metres, including 1-metre at 3.48% from 108 metres;
- 8 metres at 0.45% from 429 metres, including 1-metre at 1.51% from 432 metres;
- 5 metres at 0.53% from 442 metres, including 1-metre at 1.3% from 444 metres.
Next steps
Work is ongoing to update the geological model based on the recent drill and geophysical data as well as review of the historical data with the aim of better resolving the geological controls on the higher-grade copper zones.
The JV plans to workshop these updated concepts ahead of a further round of drilling.