The results received clearly identify the 'known' Canbelego copper deposit and highlight two new chargeable IP anomalies that have never been drilled
Helix's Executive Technical Director,
IP detects 'sulphide' minerals regardless of the textures and we think this technique offers a very cost effective, direct detection method for finding new copper deposits in the Cobar district. With our multi-disciplinary approach including pathfinder geochemistry, we think IP can identity quite 'refined' drill targets or eliminate targets, which offers significant savings on drilling expenditure and time. We will now move on to build a fuller picture of the Rochford Trend copper potential by expanding to a wide coverage 'gradient array IP' geophysical survey over known surface copper anomalies and where drillholes have intersected copper sulphide mineralisation, such as the Cabellero and Bijoux prospects. This is an exciting development; fast-tracking Helix on a discovery pathway while saving money and optimising our drill targeting
Introduction
The Company has completed an orientation induced polarisation (IP) survey over the Canbelego copper deposit and the Bijoux copper prospect. The aim of the survey was to investigate whether IP could detect known mineralised zones at Canbelego, and whether previously detected electromagnetic (VTEM) anomalies within the regionally significant Rochford Trend have an associated IP response. The Canbelego project area falls with EL6105 a joint venture with
Canbelego IP
results The Canbelego PDIP survey generated high-quality and low noise data and has defined three discrete IP chargeability anomalies at a threshold of 30mV/V. The 350m long eastern chargeable anomaly coincides with the known Canbelego Main Lode mineralisation. The top of the chargeable zone is from 125m vertical, deeper than the observed mineralisation which starts near surface. This is partly due to nonchargeable, or poorly chargeable oxide and transition copper mineralisation near surface, and partly due to the 100m dipole size of survey, which was designed to emphasise deeper, rather than shallow, chargeable anomalies. The central chargeable anomaly corresponds to the southern end of the Western Lodes, however the 3D inversion model indicates that the widest part of this anomaly has not been drilled. The western chargeable anomaly is NNW-trending with approximately 300m of strike length. The depth to the top of the chargeable zone is approximately 130m vertical. This anomaly is coincident with a farm track with electric fencing in the south, however interrogation of the data shows no obvious fence effects. Significantly, this anomaly is well outside of the drilled area at Canbelego and represents a new drill target. Similarly, the depth to the top of 30mV/V shell in central and western chargeable anomalies is approximately 140m vertical, and both these anomalies have not been drilled previously. Further refining of these chargeable anomalies will be undertaken after the proposed gradient array IP surveys are completed in the next month. This will include quantifying the impact of the electric fence on the western chargeability anomaly.
Next Steps
Two GAIP surveys are planned; the first covering a 16km2 area from north of Canbelego to south of Caballero, and the second covering a 5km2 area over the Bijoux prospect. A GAIP survey is a cost-effective method surveying large areas to detect chargeability and resistivity anomalies, however GAIP will not provide a depth constraint on any identified anomalies. GAIP anomalies will need to be followed-up with PDIP surveys to accurately define the depth and geometry of the anomalies. Utilisation of GAIP to detect sulphide mineralisation and then PDIP to better define the target ahead of drilling will fast track drill testing and, optimise the drill success rate - saving drill metres and hence expenditure. The GAIP surveys will commence in early
COMPETENT PERSON STATEMENT
The information in this report that relates to exploration results, Mineral Resource estimates and geological data for the Cobar projects is based on information generated and compiled by Mr.
Contact:
Tel: +61 (0)8 9321 2644
Email: helix@helixresources.com.au
Chapter One Advisers
Tel: 0433 112 936
Email: dtasker@chapteroneadvisors.com.au
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