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Helix Resources Ltd.
Summary
| Project: | Cobar | |
|---|---|---|
| Deposit: | Cobar | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 11/7/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 7-11-2019: Helix Resources Ltd. announces a Resource Estimation report for its Cobar deposit at the Cobar project. Resource updated to JORC 2012 compliance. Helix Resources Limited (ASX:HLX) (Helix or the Company) is pleased to report an JORC2012 complian | |
| Resources: | (Resource, Inf.): 3.75Mt @ 1.0g/t Au at Cobar | |
| CP/QP: | [Resources]: Lauritz Barnes, Michael Wilson (Trepanier Pty Ltd.;Internal) | |
| ABSTRACT: | Helix Resources Limited (ASX:HLX) (Helix or the Company) is pleased to report an JORC2012 compliant Mineral Resource estimate update for the Cobar gold Project, located in the Cobar Region of Central NSW. This replaces a previous Resource estimate for the project completed in 2011 that was compliant with the JORC 2004 standard. Recognising the benefit of recent resource modelling techniques, including implicit modelling (radial based functions) and its ability to use more geological control in the modelling process, a resource update to better refine the geological model for the project was completed. The updated Inferred JORC2012 Mineral Resource estimate for the Cobar Gold Project is 3.75 million tonnes grading 1.0g/t Au for 118,800 ounces at a 0.4 g/t Au cutoff with a higher cut-off grade of 1.2 g/t Au, returning 0.87Mt @ 2.0g/t Au for 54,300 ounces gold (see tables below). The mineral resource data was prepared by Helix and the Resource Estimation completed by an independent resource consultant. The new interpretation that evolved during modelling will greatly assist in planning future drilling to expand on this resource base. The resource review has also established a robust and refined interpretation of the broader goldfield, which provides clear geological controls and vectors to expand the known gold mineralisation, well beyond the historic workings. The resource modelling seen at the Sunrise Prospect has identified a series of plunging fold noses interacting with axial plane parallel structures. These fold plunges may be important controls on higher grade gold and all remain open at depth. | |
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