Helix Resources Extends Prospective Copper Zone at Collerina
HLX (HLX) Share Update July 2024 Wednesday 31st
Helix Resources Extends Prospective Copper Zone at Collerina
Helix Resources Ltd (ASX: HLX) has announced encouraging results from their recent geochemical sampling at the Collerina Copper Trend, located in the Eastern Group Tenements in New South Wales.
Instant Summary:
- Over 600 auger sample assays confirm the Collerina Copper Trend as a major prospective zone.
- Significant gold assays with peak values of 187ppb Au, 39ppb Au, and 44ppb Au.
- Numerous gold anomalies defined at Tarawera and Iowaba with peak values of 37ppb Au and 59ppb Au.
- Next steps include further infill and extension auger sampling, aircore drilling, and detailed geochemical assessments.
Geochemical Sampling Results
Helix Resources Ltd has received over 600 auger sample assays from the Eastern Group Tenements, confirming the Collerina Copper Trend as a major prospective zone. The geochemical results indicate elemental signatures consistent with Tritton-style copper-gold deposits.
The infill results have confirmed the presence of pathfinder element anomalies at several targets. Notably, numerous +20ppb gold assays were returned, with peak values of 187ppb Au at Max’s Folly, 39ppb Au at Alderbaran, and 44ppb Au at Gwinear. The sample grid was infilled to 50m x 50m at Max’s Folly and Alderbaran, and to 100m x 50m at Gwinear.
Additional Anomalies
Several gold anomalies were also defined at Tarawera and Iowaba, with numerous +20ppb gold assays and peak values of 37ppb Au and 59ppb Au, respectively. The sample grid was infilled to 50m x 50m in multiple areas. These results further emphasize the potential of the Collerina Copper Trend.
Next Steps
Helix Resources plans to continue infill and extension auger sampling, aircore drilling, and detailed assessments for distinctive Tritton-style copper-gold deposit geochemical signatures. This will help in vectoring and area prioritization, bringing targets to a drill-ready stage as efficiently as possible.
Managing Director Kylie Prendergast commented, 'The auger infill programs continue to confirm significant geochemical anomalies along the prospective corridor we refer to as the Collerina Copper Trend. The results demonstrate this is a major prospective zone, and the signatures we are observing are consistent with Tritton-style copper-gold deposits.'
The confirmation of significant geochemical anomalies at the Collerina Copper Trend is a positive development for Helix Resources. This could lead to increased investor interest and a potential rise in stock price as the company progresses towards drilling and potential discovery of new copper-gold deposits.
Investor Reaction:
Analysts are likely to view this announcement favorably, as it highlights the potential for significant copper-gold discoveries in a highly prospective region. The continued proactive approach by Helix Resources in advancing their exploration programs is expected to bolster investor confidence.
Conclusion:
Investors should keep a close watch on Helix Resources' upcoming drilling programs and further geochemical assessments. The company's strategic advancements in the Collerina Copper Trend could lead to substantial discoveries, making it a promising opportunity for those interested in the copper-gold sector.