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) is continuing to progress exploration at its copper and gold projects in Chile, and has identified a large copper porphyry system at the Joshua Project.
Reverse circulation and diamond drilling at Joshua Target 1 have returned wide, near surface intercepts of copper and anomalous molybdenum.
The best results from drilling to date include:
- 400 metres at 0.33% copper equivalent, including 70 metres at 0.41% copper equivalent;
- 256 metres at 0.32% copper equivalent from surface, including 27 metres at 0.58% copper equivalent; and
- 143 metres at 0.27% copper equivalent from surface.
Individual assays have returned grades of up to 0.8% copper, 1.15 grams per tonne (g/t) gold and 764 parts per million (ppm) molybdenum.
The system covers more than 1.5 square kilometres, and mineralisation remains open at depth and along strike in all directions.
Helix has commenced an induced polarisation geophysical survey to close off the extensions of Target 1 and test the remaining three targets.
Meanwhile, mapping, surface sampling and track work are being used to prioritise targets for the next drilling program.
Helix is also undertaking exploration at the Hado Copper Project and Huallillinga copper gold project in Chile, with initial field activities underway at both.
At Hado, first pass field work has identified an alteration system stretching over more than 5 square kilometres, with hydrothermal breccias surrounding a porphyritic diorite.
Mapping and rock chip sampling are underway to define surface copper, gold and molybdenum while Helix is planning two induced polarisation lines to identify and prioritise drill targets.
Early field activities at Huallillinga suggest potential for high grade shear and vein-hosted copper and gold systems.
Copper and gold mineralisation has been found in structures between 5 metres and 30 metres wide, with potential for sub-parallel systems up to 3 kilometres in length.
An induced polarisation survey is planned to follow up on the current program of mapping and geochemical sampling.
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