Helix Resources Limited (ASX: HLX) – $0.030

01 Apr 2015

Helix Resources Limited (ASX: HLX) has received assay results from the second reverse circulation drilling program at its Collerina Prospect located in central New South Wales.

 

The reverse circulation drilling program comprised 7 drillholes for a total of 1,073 metres. Highlights include:

 

  • 7.0 metres at 3.2% copper, 1.7% zinc, 11.0g/t silver from 86.0 metres including 10.0 metres at 2.6% copper, 1.4% zinc, 9.0g/t silver from 84.0 metres (Figure 1)

 

  • 5.0 metres at 3.2% copper, 2.4% zinc, 12.0g/t silver from 97.0 metres including 9.0 metres at 1.9% copper, 1.4% zinc, 7.0g/t silver from 97.0 metres

 

HLX massive sulphide rc chips

Figure 1. Reverse circulation chips – massive sulphides intersected in Hole ID CORC011

 

 

Massive sulphides were intersected in four of the seven drillholes. Gold assays are pending.

 

Drilling was designed to target strike extensions of mineralisation coincident with off-hole EM conductors. The drilling has identified base metal (+gold) mineralisation over an open ended strike of 350 metres. The higher grade mineralisation appears to be plunging at a shallow dip to the east-northeast with a zone of intercepts exceeding 3% copper returned over a strike of at least 200 metres remaining open down plunge.

 

Further DHEM surveying has been undertaken in three of the holes drilled in this program with data currently being compiled and modelled.

 

 

For further information, visit www.helix.net.au

 

 

Resources Stocks to Watch (RSTW) is the leader in research on over 680 ASX listed micro to small-cap mining stocks and commodities. We are independent and do not accept commissions. We tell it like it is. Our reports are researched by experienced geologists and resources analysts, the experts in the field.

Resources Sector Recent News Items

News Archives

News Categories