Helix Resources Limited (ASX: HLX) – $0.030
01 Apr 2015
Helix Resources Limited (ASX: HLX) has received assay results from the second reverse circulation drilling program at its Collerina Prospect located in central New South Wales.
The reverse circulation drilling program comprised 7 drillholes for a total of 1,073 metres. Highlights include:
- 7.0 metres at 3.2% copper, 1.7% zinc, 11.0g/t silver from 86.0 metres including 10.0 metres at 2.6% copper, 1.4% zinc, 9.0g/t silver from 84.0 metres (Figure 1)
- 5.0 metres at 3.2% copper, 2.4% zinc, 12.0g/t silver from 97.0 metres including 9.0 metres at 1.9% copper, 1.4% zinc, 7.0g/t silver from 97.0 metres
Figure 1. Reverse circulation chips – massive sulphides intersected in Hole ID CORC011
Massive sulphides were intersected in four of the seven drillholes. Gold assays are pending.
Drilling was designed to target strike extensions of mineralisation coincident with off-hole EM conductors. The drilling has identified base metal (+gold) mineralisation over an open ended strike of 350 metres. The higher grade mineralisation appears to be plunging at a shallow dip to the east-northeast with a zone of intercepts exceeding 3% copper returned over a strike of at least 200 metres remaining open down plunge.
Further DHEM surveying has been undertaken in three of the holes drilled in this program with data currently being compiled and modelled.
For further information, visit www.helix.net.au
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