For thousands of other reports visit RSC's Mineral Intellingence Map
Helix Resources Ltd.
Summary
| Project: | Cobar | |
|---|---|---|
| Deposit: | Battery Tank | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 1/24/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 24-1-2017: Helix Resources Ltd. announces an Exploration/Drilling Update report for its Battery Tank deposit at the Cobar project. Drilling results incl. 43m @ 2.3g/t Au from 0m. Helix Resources Limited (ASX:HLX) is pleased to announce that first‐pass air | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Mick Wilson (Internal) | |
| ABSTRACT: | Helix Resources Limited (ASX:HLX) is pleased to announce that first‐pass aircore drilling at the Battery Tank Prospect near Cobar in NSW has returned spectacular initial results. The discovery hole at the Battery Tank Prospect was drilled to blade refusal, with significant quartz and siliceous alteration noted throughout the hole, increasing in abundance at the bottom of the hole. The 20 hole aircore program was testing a large 500m x 500m gold‐in‐soil anomaly, that remains open in several directions. The Battery Tank Prospect is an area which is scattered with historic (early 1900’s) pits and trenches. Several other holes have returned highly encouraging thick zones of lower‐order gold mineralisation in the wide‐ spaced aircore drilling to blade refusal (hard rock) , refer to Table 1 for significant results. It should be expected that additional gold mineralisation will be intersected at depth at many of these locations, given the strong relationship between the presence of hard quartz veins and high‐grade gold. Recent diamond drilling had returned excellent high‐grade gold results, including 45m @ 3.4g/t Au at the Boundary Prospect and 28m @ 3g/t Au to EOH at the Good Friday Prospect¹. Importantly the diamond drilling at the Boundary Prospect had provided invaluable information about the the controls of high‐grade gold and the distribution of quartz vein/silica alteration that appears consistent through the goldfield. Four prospects Battery Tank, Boundary, Good Friday and Sunrise have now all returned wide high‐grade gold results, suggesting a significant gold system is present in the goldfield. The Cobar region is a multi‐million ounce gold producer, typically from high‐grade deposits such as The Peak, New Cobar and the nearby Mt Boppy mine, which has produced circa 500,000 ounces of gold at an average grade of 10g/t Au from a 300m long deposit. | |
Full Report
opaxe is a smart software platform that reconfigures and redistributes information and produces business insights to help mining professionals and investors make better decisions. We utilise technology and machine learning for data collection and human intelligence for the value-added services.
Full Report