Helix’s 100%-owned Collerina Copper Project is located in the highly active copper/gold mining and exploration district known as the Cobar Basin, within central NSW, Australia.
The Collerina Copper Project comprises a tenement package in excess of 1,500km2, including over 85km of copper-prospective trend. It is surrounded by multiple operating base metal and gold mines within the broader Cobar Basin (Tritton, Hera, Peak and CSA mines).
The Central Zone deposit is a Helix internally generated, high-grade copper discovery within the Collerina Copper Project. High-grade results from previous drilling of the Central Zone deposit include: 11m at 6.6% Cu, 12m at 5.0% Cu, 14m at 4.0% Cu and 10m at 3.7% Cu.
In June 2019, Helix announced a maiden resource estimate for the Central Zone deposit of 2.02 Mt at 2.03% Cu and 0.1g/t Au for 40kt copper and 9.4koz gold (Indicated and Inferred) (refer Table C). Almost 50% of that resource tonnage sits in the Indicated categorisation, with the remainder classified as Inferred.
In early 2020 an RC drilling program tested for further high-grade copper mineralisation in the Exploraton Target zone immediately surrounding the initial Central Zone resource(refer Table C).
The drilling program successfully identified new zones of high-grade copper well outside the current Central Zone resource envelope (see Figure 1). These results represent significant extensional success and clear validation of the broader Collerina Deposit Exploration Target. Importantly they provide an opportunity to substantially grow the high-grade copper resource at Collerina.