Helix Resources (ASX: HLX) is focused on exploration for gold, platinum group metals (PGM) and base metals in Australia and Chile. The company's projects include the Tunkillia Gold Project in South Australia, the Restdown Gold Project in New South Wales and the Joshua Copper Project in Chile.
Helix Resources (ASX: HLX) has intersected copper mineralisation in the first drill hole of a 2,000 metre reverse circulation drilling campaign at the Joshua Project in Chile.
Drilled to a depth of 156 metres, the first drill hole revealed varying percentages of copper and molybdenum hosted in porphyry from 23 metres to the end of hole.
The drilling is aimed at testing the priority 1 porphyry copper system identified by Helix in the first quarter 2011.
Previous field mapping and preliminary geochemical sampling from rock-chips by Helix in the drilling area returned assays ranging from 0.1 grams per tonne (g/t) gold to 0.3g/t gold and 0.3% copper to 0.7% copper.
The porphyry target at Joshua is adjacent to the Carmelita copper mine where small tonnages of material is mined from shear zones containing about 2.5% copper oxide.
Several additional porphyry and vein/breccia-style prospects remain untested at the project that require further field mapping and sampling.
The company has acquired 4 projects in Chile in prospective gold and copper regions.
The company plans to do an IP survey and a more extensive drilling program at the project in the third quarter of this year, with the current drilling expected to finish within the coming weeks.