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Helix Resources’ drilling continues to expand gold mineralisation footprint

Published: 14:17 23 Aug 2017 AEST

A map of Australia
The drilling continues to demonstrate broad zones of gold mineralisation

Helix Resources Ltd’s (ASX:HLX) drilling program continues to expand the footprint of near-surface gold mineralisation at its Cobar Gold Project in New South Wales.

The Cobar Gold Project covers an area of circa 188 square kilometres and is located 40 kilometres southeast of Cobar.

Significantly, potentially economic, near surface gold intercepts have been returned from five prospects with the potential to continue at depth.

Highlights of the results from these prospects include:

- Battery Tank prospect: 23 metres at 2 g/t gold from 26 metres;
- Good Friday prospect: 4 metres at 5 g/t gold within 38 metres from surface; and
- Sunrise prospect: 32 metres at 1 g/t gold from 8 metres.

The drilling program consisted of a total of 30 holes for 3,600 metres using two drill rigs across six prospects which has expanded the known prospects both along strike and at depth.

Importantly, the drilling continues to demonstrate broad zones of gold mineralisation, including multiple stacked gold bearing structures.

The gold mineralisation has been intersected in fresh rocks circa 80-120 metres from surface in the depth extensions of known gold-bearing structures.

Helix’s Cobar Gold Project is one of the most significant recent greenfield gold discoveries in the district, a region renowned for long-life and depth extensive gold and base metal deposits.

Earlier this year, Helix raised $2.21 million to advance its Cobar gold and Collerina copper, zinc project.

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on 9/11/23