Collerina Project

Helix Resources is developing its 100%-owned Collerina project which is highly prospective for copper-gold mineralisation and located within the prolific Cobar Basin region of central NSW.

The project comprises a tenement package in excess of 1,300km² approximately 100km east of the town of Cobar and covers an anomalous 60km copper-prospective trend, known as the Collerina Trend.

The Central Zone (CZ) deposit is the Company’s flagship target within the Collerina Trend and was discovered by Helix in late 2016. It is surrounded by multiple operating base metal and gold mines within the broader Cobar Basin, including Tritton, Hera, Peak and CSA mines.

CZ contains a maiden JORC (2012) resource estimate of 2.02 Mt at 2.03% Cu and 0.1g/t Au for 40,000 tonnes of contained copper and 9,400 ounces of contained gold.

Approximately half of the resource tonnage sits in the Indicated categorisation, with the remainder classified as Inferred.

Mineralisation at the CZ deposit is considered to be structurally modified volcanic massive sulphide (VMS)-style mineralisation, though this is currently being reveiwed. At the CZ deposit, primary copper-sulphide mineralisation (chalcopyrite) has been intersected as massive, veins and disseminated sulphides. The mineralised zone is interpreted as a folded sheet trending approximately east-west, dipping north at approximately 40 degrees with mineralisation localised along the fold hinge zones.

The Company intends to extend the resource at CZ with an active exploration campaign utilising a combination of drilling, electromagnetic surveying and geological modelling. Additional high-grade targets have been identified surrounding the Resource further increasing the Company’s confidence in expanding the deposit.

The CZ deposit remains open in all directions and the Company is also exploring parallel northern and southern target zones. Helix intends to follow up these priority targets which have the potential to significantly expand the known mineralised zone.

Central Zone Mineral Resource Estimate (June 2019) (0.5% Cu Cut-off)