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Helix Resources Ltd.
Summary
| Project: | Mundaro | |
|---|---|---|
| Deposit: | Mundaro | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 5/23/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 23-5-2018: Helix Resources Ltd. announces an Exploration/Drilling Update report for its Mundaro deposit at the Mundaro project. Drilling results incl. 12m @ 0.12g/t Au from 198m. Helix Resources Limited (ASX:HLX) (Helix or the Company) is pleased to provi | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Mick Wilson (Internal) | |
| ABSTRACT: | Helix Resources Limited (ASX:HLX) (Helix or the Company) is pleased to provide an update on its progress at the Mundarlo Project, near Gundagai NSW. Follow-up extension RC drilling extended MURC001 and MURC002 were undertaken and assays from this work have been received. The RC hole extensions both intersected massive and semi-massive sulphide over zones 2-13m thick. The thicker sulphide intercepts correlate very well with the top edge of the main modelled DHEM conductor plate, with several other sulphide-rich zones matching various modelled plates defined by both MLEM and the follow-up DHEM surveys. Anomalous gold and elevated zinc was returned in assays from the sulphide-rich zones including 12m @ 0.12g/t Au from 198m in the deeper hole MURC002 and 8m @ 0.1g/t Au from 118m in MURC001, with zinc noted between three to six times the background response (up to 0.06% Zn). Based on field observations and the iron to sulphur ratios in the assays, these sulphide zones appear to be dominated by iron sulphide species (pyrite and pyrrhotite). Significance of the Results This initial three-hole program was the first known drilling at the Mundarlo Project. The drilling tested the near surface (and southern edge) of the modelled MLEM conductor and has confirmed it has a sulphidebearing source. This was an important relationship to confirm prior to committing to larger, deeper and more comprehensive exploration programs. | |
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