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Helix Resources targets cash raise following assays from Collerina Copper Deposit

Published: 09:24 22 Nov 2017 AEDT

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The company's shares are in pre-open

Helix Resources Ltd (ASX:HLX) is undertaking a six-hole exploration drill program at the Collerina Copper Deposit, located in the Cobar Basin in New South Wales.

The project is hosted within a 150 kilometre proven copper trend.

The first hole of the drill program returned: 16 metres at 1% copper and 0.7% zinc from 173 metres.

To continue with the next steps, Helix is heading to market with a capital raising, and the ASX has granted a trading halt to prepare.

The halt will remain in place until the opening of trade on Friday 24th November 2017, or earlier if an announcement is made to the market.

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on 9/11/23