Canbelego JV | New South Wales

Helix Resources Limited 70%, Straits 30% (Contributing)

The Canbelego Project covers an area of approximately 40kmĀ² and is located 45km south-east of Cobar and 5km south of the historic Mt Boppy Mine (produced ~500,000 oz at +10g/t Au) in Central West NSW. Tenement EL6105 covers a 10km long north-west trending magnetic complex with numerous historical copper workings.
The Company is targeting both copper and gold/basemetal models consistent with the known deposits in the Cobar/Girilambone Region.

A 50m line spaced aeromagnetic survey was flown which with ongoing surface geochemical surveys will assist in defining regional drilling targets. An RC drilling program 2H10 confirmed an inferred resource of 1.5Mt @ 1.2% Cu.

Canbelego Copper Resource October 2010

The total copper resource for the Canbelego Copper Deposit at a 0.3% Cu cutoff is classified according to the JORC Code (2004) as:

JORC Category Million tonnes Grade % Cu Contained Tonnes
Inferred 1.5 1.2 18,000
TOTAL 1.5 1.2 18,000

Helix is looking forward to working closely with Straits Resources, a major stake holder in the province, operator of the nearby Tritton Copper Mine and successful discoverer and developer of numerous +1Mt copper ore deposits in the region.

West Girilambone Location Plan

(Click to enlarge)