Aeris Resources Ltd (ASX:AIS) exploration partner Helix Resources Ltd has intersected visible copper sulphide mineralisation from its new parallel lode positions identified from the reverse circulation (RC) drill program at the Canbelego Joint Venture Project in the Cobar region of New South Wales.
The company’s copper assays confirm two new lodes: CBW1 and CBW2, situated 200 and 400 metres west, and parallel to, the Canbelego Main Lode mineral resource.
Strong RC results include:
- 3 metres at 1.02% copper within 12 metres at 0.38% copper from 94 metres;
- 1 metre at 3.18% copper within 13 metres at 0.67% copper from 143 metres; and
- 2 metres at 2.98% copper within 8 metres at 0.9% copper from 82 metres.
Consequently, these results provide further preliminary support for Helix’s ‘Cobar-style’ exploration model of parallel, structurally controlled lode positions.
Looking ahead, the company’s work is focused on scoping out the mineralisation by drilling to identify and outline high-grade mineralised zones at the deposit.
“Extensive mineralised system”
Helix managing director Mike Rosenstreich said: “We are highly encouraged by the assays returned from the recent shallow RC drill program testing the new lode positions identified west of the Canbelego Main Lode, where we have previously reported wide high-grade copper hits.
“Drilling is due to resume shortly to scope out these lodes to test for higher grade cores – which if similar to the ‘CSAStyle’ Cobar Model, and what we have drilled so far at the Canbelego Main Lode could develop with depth in terms of grade and width.
Our drilling has confirmed the presence of a more extensive mineralised system west of Canbelego Main Lode, which is open to the north, south and at depth.
“Cobar-style deposits often only have a small footprint and don’t reach the surface, but once discovered can extend for hundreds to more than 1,000 metres vertically at very high grades in multiple, aligned structures.
Drilling results
Helix has completed nine reverse circulation (RC) holes, totalling 1,368 metres, with hole depths ranging from 96 to 204 metres at Canbelego.
The copper mineralisation is hosted in a deformed sequence of sandstone, silt, black shale and schist and is often associated with quartz veins and/or quartz breccia.
Other strong copper results include:
- 7 metres at 0.67% copper within 22 metres at 0.38% copper from 103 metres;
- 16 metres at 0.32% from 15 metres; and
- 2 metres at 0.97% from 118 metres, including 1 metre at 1.35%.
Forward plan
Helix is building considerable exploration momentum with strong drill results from Canbelego and developing a compelling exploration target model — the Cobar-style deposit model — to rapidly move the Canbelego Project and other regional prospects forward.
The key upcoming work elements for the Canbelego area include the following:
- Work has begun on re-modelling the 3D distribution of Canbelego copper mineralisation based on structural data obtained from the recently acquired oriented drill core. This work will inform a follow-up drill program for the Main Lode.
- Assays for three diamond holes are expected in late May 2022.
- Permitting for a comprehensive diamond and RC drill program at Canbelego Main Lode, the parallel lode positions to the west of the Main Lode, and for the Caballero prospect, 2km southeast of the Main Lode, is underway.
Rosenstreich added: “We have a drill rig due to commence in April – the start of a major drilling program across all of our prospects.
“We have recruited additional geologists and are generally gearing up for a massive exploration push with the benefit of the funds from the recently announced capital raising.”