HELIX RESOURCES DISCOVERS SIGNIFICANT GOLD ANOMALY AT COLLERINA

New Geochemical Data Reveals Potential for Large-Scale Mineralisation

Helix Resources Ltd (ASX:HLX) has unveiled a major breakthrough in its exploration efforts with the discovery of a large-scale gold geochemical anomaly at its Eastern Group Tenements, indicating the presence of a substantial hydrothermal mineralisation system.

Exploration Highlights:

  • Initial geochemical sampling has identified two broad areas of gold anomalism, spanning up to 5km in length within the Eastern Group Tenements, situated approximately 50km southeast of Nyngan.
  • Notable gold occurrences have been observed with auger sampling yielding values up to 100ppb, coinciding with rock chip samples previously reported to have gold grades as high as 8.95g/t.
  • Additionally, an extensive antimony-arsenic pathfinder anomaly has been outlined, now covering an 11km x 4km area and still expanding to the west and south.
  • The significant scale of the pathfinder footprint suggests a vast hydrothermal system with promising gold and copper potential.

Upcoming Exploration Initiatives:

  • Early results from ongoing step-out IP geophysics at Canbelego are anticipated by late March, with plans for further auger infill and extension sampling to refine these emerging targets.
  • A drilling campaign initially slated for March will now commence in April-May to allow for a detailed interpretation of the new data and to optimally position drill targets.

Management’s Insight:

Kylie Prendergast, Executive Technical Director of Helix, expressed enthusiasm about the recent findings:

Helix continues to use a number of advanced exploration techniques in order to generate high-quality copper-gold targets and I am very excited to see some of these surveys illustrate coincident anomalies which present excellent prospects for drill testing.

Our latest batch of results have identified extensive gold anomalies which are accompanied by a large-scale antimony-arsenic anomaly. Arsenic and antimony are known pathfinders to copper-gold mineralisation in the Cobar district.

The scale of the anomalies, which are still open in two directions, adds further copper-gold discovery potential within this newly identified zone, located only 60km south of Aeris Resources’ (ASX:AIS) Tritton copper operations.

The ongoing low-cost, auger sampling programs are a lynchpin in our copper-gold discovery strategy and have been highly effective at rapidly delineating and ranking new targets. For the next month we are focused on new geophysical surveys to optimise precious drill metres leading us to defer the planned drill program to late April/May to ensure we hit the best targets.

Helix has a robust pipeline of copper-gold targets which have the potential to deliver a major copper gold discovery in the highly endowed, Cobar copper-gold region close to established operations and processing facilities.

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