Helix Resources (ASX: $HLX) trials new geophysics method

Helix Resources Ltd (ASX: $HLX) has successfully trialed the use of an Induced Polarisation (IP) geophysical survey technique at the Canbelego Main Lode Mineral Resource. The results received clearly identify the 'known' Canbelego copper deposit and highlight two new chargeable IP anomalies that have never been drilled.

Executive Commentary on New Geophysics Method

While it is still early days, the application of IP geophysics is looking like a game-changer for Helix and our exploration of the Rochford Trend. Copper mineralisation occurs as 'sulphide' minerals in either disseminated, vein stockworks or sometimes massive- sulphide textures. The latter can be conductive and to date we have relied on measuring that massive, conductive feature utilising 'electromagnetic' or 'EM' survey techniques to identify potential deposits. However, at Bijoux we intersected copper sulphides at grades well above 1% copper but occurring as veins and disseminations and hence unlikely to give an EM response. IP detects 'sulphide' minerals regardless of the textures and we think this technique offers a very cost effective, direct detection method for finding new copper deposits in the Cobar district. With our multi-disciplinary approach including pathfinder geochemistry, we think IP can identity quite 'refined' drill targets or eliminate targets, which offers significant savings on drilling expenditure and time. This is an exciting development; fast-tracking Helix on a discovery pathway while saving money and optimising our drill targeting.

Summary of New Geophysics Method Trial

Helix Resources Ltd (ASX: $HLX) has successfully trialed the use of an Induced Polarisation (IP) geophysical survey technique at the Canbelego Main Lode Mineral Resource. The results have identified the 'known' Canbelego copper deposit and highlighted two new chargeable IP anomalies that have never been drilled. The company plans to build a fuller picture of the Rochford Trend copper potential by expanding to a wide coverage 'gradient array IP' geophysical survey over known surface copper anomalies and where drillholes have intersected copper sulphide mineralisation, such as the Cabellero and Bijoux prospects. The company's multi-disciplinary approach, including pathfinder geochemistry, aims to refine drill targets or eliminate targets, offering significant savings on drilling expenditure and time. Helix Resources is set to commence two GAIP surveys in early March 2024, covering a 16km2 area from north of Canbelego to south of Caballero, and a 5km2 area over the Bijoux prospect. The surveys are expected to be completed in late-March, followed by PDIP surveys to define drill targets.