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Helix Resources Ltd.
Summary
| Project: | Cobar | |
|---|---|---|
| Deposit: | Battery Tank, Sunrise, Good Friday, Boundary, Reward | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 8/23/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 23-8-2017: Helix Resources Ltd. announces an Exploration/Drilling Update report for its Battery Tank, Sunrise, Good Friday, Boundary, Reward deposit at the Cobar project. Drilling results incl. 44m @ 1.1g/t Au from 5m. Helix Resources Limited (ASX:HLX) (H | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Mick Wilson (Internal) | |
| ABSTRACT: | Helix Resources Limited (ASX:HLX) (Helix or the Company) is pleased to advise that the recent RC drilling program at the Cobar Gold Project has continued to expand the footprint of near-surface gold mineralisation. The drilling program consisted of a total of 30 holes for 3,600m using two RC drill rigs across six prospects. New gold intercepts identified during recent drilling have expanded the known prospects both along strike and at depth. The drilling has also identified further gold structures and highlighted the potential for additional gold systems at regional prospects. Managing Director Mick Wilson commented: “The Cobar Gold Project continues to be one of the most encouraging greenfield gold discoveries in the Cobar District. We continue to enhance our understanding of the nature and geometry of these gold systems. The results from this year’s exploration programs, our proximity to operating mines and the fact that all our discoveries start from, or near to surface, collectively have boosted our confidence in the potential of this emerging gold project”. A program of 23 RC drill holes was undertaken to test the strike and dip extents of gold bearing structures at the four Central Gold Prospects (Boundary, Sunrise, Good Friday and Battery Tank). The drilling was designed to expand the knowledge and understanding surrounding the previous near surface gold results. Drilling has expanded the known strike of the main structure at Boundary to over 200m. The Boundary Prospect was a greenfield discovery by Helix, defined at surface by a gold in soil anomaly. This main gold-bearing structure remains open along strike in both directions as well as at depth. Scissor holes HRRC105 & HRRC106 were drilled south to north and north to south respectively targeting the main structure and confirming the dip and strike of the system. Significantly, both holes intersected new gold zones at shallow intervals before entering the main structure at depth. HRRC105 & HRRC106 both ended in mineralisation and are suitable candidates for future diamond tails to drill through the entire main structure in fresh rock. | |
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