Western Girilambone Basin - New South Wales
Helix Resources Limited earning 51%EL6105
Helix Resources Limited 100%
ELA3784 and ELA3847
Canbelego JV
Helix has the right to earn 51% of EL 6105 from Straits Resources by spending $300,000 over 3 years by September 2012 with a minimum expenditure of $100,000 in Year 1.The Canbelego Project covers an area of approximately 40km² and is located 45km south-east of Cobar and 5km south of the historic Mt Boppy Mine (produced ~500,000 oz at +10g/t Au) in Central West NSW. Tenement EL6105 covers a 10km long north-west trending magnetic complex with numerous historical copper workings.
The Company is targeting both copper and gold/basemetal models consistent with the known deposits in the Cobar/Girilambone Region.
A 50m line spaced aeromagnetic survey was flown 1Q10 which with ongoing surface geochemical surveys will assist in defining regional drilling targets. An RC drilling program is planned for March-April 2010.
Helix is looking forward to working closely with Straits Resources, a major stake holder in the province, operator of the nearby Tritton Copper Mine and successful discoverer and developer of numerous +1Mt copper ore deposits in the region.
Little Boppy Project (ELA3784)
The Little Boppy Project consists of exploration licence application covering the extensions of the Canbelego JV magnetic complex and historical copper/gold workings with an area of approximately 100 km².This project provides additional exploration exposure in a similar setting to the Canbelego (Cu) and Mt Boppy (Au) Deposits. Several structural features have been identified for follow-up work as well as a review of untested 2km x 1km gossan/rock chip anomaly (elevated in Cu, Zn, Pb and Ag) identified by explorers in the late 1970’s and re-assayed by the NSW mines department in 2005
Upon grant the Company will utilise geophysics and geochemistry to define drill targets.
Restdown Project
(ELA3847)The Restdown Project consists of exploration licence application covering an approximate 100km² area west of the Canbelego JV magnetic complex. The project covers similar structural controls and sub-parallel lithologies and will provide additional exploration exposure in similar settings to the Canbelego (Cu) and Mt Boppy (Au) Deposits.
Upon grant the Company will utilise geophysics and geochemistry to define drill targets.