Helix Resources announces expansion of copper resource potential

Helix Resources Ltd (ASX: $HLX) has announced the expansion of its copper resource potential with the identification of new geophysics anomalies at the Canbelego and Caballero joint venture projects. The new 1,200 metre (m) Induced Polarisation (IP) geophysics anomaly identified, in addition to the two recently identified IP anomalies west of the Canbelego Main Lode Resource, highlights exciting potential to increase the existing copper Mineral Resource. The Company, in a joint venture with Aeris Resources Ltd (ASX: $AIS), is pleased to report the continued success of its IP geophysical survey techniques to rapidly delineate key zones that correlate with known copper anomalism at the Canbelego and Caballero projects.

Executive Technical Director's commentary on the new geophysical survey results

The new geophysical survey results show there are significant new copper targets in close proximity to known, high-grade copper mineralisation at the Canbelego deposit. This is generating a lot of excitement in the Helix team on our ability to expand our Canbelego Copper Mineral Resources with drilling scheduled to start in May. Helix is strongly focused on growing its copper endowment in the prolific Cobar region and is systematically assessing its entire tenement portfolio with innovative methods to make new discoveries. We have high confidence that the conductive zones represent mineralised structures due to the correlation of copper geochemical anomalism at surface with these conductive zones and our new geological modelling. Now we will move to test the anomalies with PDIP geophysics. This will test down to depths of about 400m and we will be seeking to identify chargeability zones that could represent sulphide copper mineralisation, ideally similar to those that we identified very effectively with this technique at the high-grade Canbelego deposit. Helix is systematically generating a large pipeline of targets which we will further refine, prioritise and then test the best of them with drilling in May subject to weather.

Summary of the new geophysical survey and future plans

The new geophysical survey has expanded the potential for copper mineralisation at the Canbelego and Caballero joint venture projects, with the identification of three new undrilled prospective target zones. The correlation of copper geochemical anomalism at surface with the conductive zones has provided high confidence in the mineralised structures. Helix is planning to commence drilling in May to test the anomalies with PDIP geophysics, aiming to identify chargeability zones that could represent sulphide copper mineralisation. The Company is focused on growing its copper endowment in the prolific Cobar region and is systematically assessing its entire tenement portfolio with innovative methods to make new discoveries. The future outlook involves refining and prioritising a large pipeline of targets for drilling, subject to weather conditions, to further expand the copper resource potential.