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Helix Resources Ltd.
Summary
| Project: | Cobar | |
|---|---|---|
| Deposit: | Battery Tank, Sunrise, Good Friday, Boundary | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 4/26/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 26-4-2017: Helix Resources Ltd. announces an Exploration/Drilling Update report for its Battery Tank, Sunrise, Good Friday, Boundary deposit at the Cobar project. Drilling results incl. 66m @ 1.5g/t Au from 2m. Helix Resources Limited (ASX:HLX) is pleased | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Mick Wilson (Internal) | |
| ABSTRACT: | Helix Resources Limited (ASX:HLX) is pleased to provide an update with regard to its recent diamond drilling program at the Cobar Gold Project in NSW. The Cobar Gold Project is located approximately 40km southeast of the mining hub of Cobar in Central NSW. Helix’s 750km² of tenements cover an entire goldfield hosted in a regionally significant anticline, where northwest regional trends appear to control gold-bearing structures in highly altered sediments. Gold mineralisation was targeted by a series of historic shafts and pits when the area was mined in the late 1800’s. The goldfield was only abandoned due to a lack of water to process the gold ore at the time. The goldfield has small historic gold workings scattered over a 13km x 5km area, demonstrating the potentially extensive gold mineralised system present in the area. The area has had only limited drilling to a maximum depth of 120m from surface at four prospects (Battery Tank, Good Friday, Sunrise and Boundary). Recent diamond drilling has intersected further gold bearing structures, in addition to previously identified gold structures, with associated quartz vein arrays and breccias, within wide zones of gold mineralisation commencing from surface or very near surface. The encouraging gold drill results have been returned from a direction perpendicular to the northwest regional trends now at all four prospects (Battery Tank, Good Friday, Sunrise and Boundary) that have been subject to initial drill testing to date. This new geological and structural interpretation provides scope for potential linkage between these prospects, both along strike and under shallow cover in drainage channels. | |
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