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Helix hunts on regardless

Despite the downturn in exploration during the June quarter, Helix Resources NL has maintained its geological and geochemical evaluations in Western Australia and South Australia.

According to Helix managing director Robert Mosig, the results indicate an active and exciting next six months for the company.

In the Gawler Craton region of South Australia, the Helix/Acacia Resources 50:50 joint venture has focussed its exploration on the Mt Christie tenements in the west of the craton.

Rock-chip samples to 1.5 grams/ tonne gold have been encountered and the partners propose to accelerate exploration during the next quarter, which will include drilling.

The Middleback Ranges project near Whyalla in South Australia continued to demonstrate potential for base metals mineralisation and a re-assay of BHP diamond drill core identified anomalous copper, silver, lead and zinc values.

The project is part of the Helix-BHP exploration alliance activities. Diamond drilling was carried out by BHP about 20 to 30 years ago during its iron ore mining and evaluation programmes.

“The re-assaying of basement rocks by Helix, which identified the presence of base metals, confirms the belief that the Middleback Range rock types have exceptional potential for copper, lead, zinc mineralisation,” he said.

This is associated with similar granitic intrusions that hosted the Tunkillia gold mineralisation in the Central Gawler Craton.

Accordingly, the company has increased the exploration tempo on this project with a corresponding increase in technical staff. Reverse circulation drilling at selected locations in the Middleback Ranges is expected to commence during the next quarter.

Elsewhere, at Helix-BHP Ex-ploration alliance projects, work commenced at the Savory project and more calcrete sampling was carried out at the Fraser Range project. Results from both of these WA exploration projects are still being compiled and full assessment will be completed during the next quarter.

Additionally, sampling was carried out on the Biscay gold project in the Kimberley region of WA. Extensive geochemical gold anomalism was identified with the best anomaly to date being the Reubens geochemical anomaly, a coherent feature of some 900 metres by 250m assaying up to 1.7 g/t gold.

Further evaluations will be carried out during the next quarter.

On a corporate level, Helix has taken up its full entitlement of Diamond Ventures NL shares and options with an investment of $405,000. This gives Helix 11 per cent equity in the company.

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