Helix Resources Ltd (ASX:HLX, Helix or the Company) is pleased to announce 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 joint venture projects.

3 A GAIP survey has identified a highly prospective 1,200m conductive zone at the Canbelego Main Lode2 extending north of Canbelego and coincident with surface copper geochemical anomalism. This conductive zone, along with two IP anomalies recently identified west of the Canbelego Main Lode Copper Resource2, highlights the potential to expand the existing copper inventory. In addition, a 2,400m conductive zone was also identified from the GAIP survey at the Caballero Prospect to the south along the Rochford Copper Trend.

These new geophysics anomalies at Canbelego and Caballero are largely undrilled

Helix's Executive Technical Director, Kylie Prendergast commented: 'The new geophysical survey results show there are significant new copper targets in close proximity to known, high-grade copper mineralisation at the Canbelego deposit4 . 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 So we are very pleased to report that following on from the initial Pole-Dipole Induced Polarisation (PDIP) geophysical surveys, we have successfully deployed wide coverage GAIP geophysics to refine the location and extent of conductive zones at Canbelego and Caballero, so far. 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 4 . 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.

The Canbelego copper deposit5 and the Caballero and Bijoux prospects are located in the regionally significant Rochford Trend. The Company has previously reported that an orientation pole-dipole induced polarisation (PDIP) survey confirmed that the Canbelego Main Lode copper mineralisation is detectable by IP6 . A broader scale gradient array induced polarisation (GAIP) survey has now been completed over a 16km2 area extending from north of the Main Lode to south of the Caballero prospect, and a second 5km2 GAIP survey is currently in progress over the Bijoux copper prospect. The objective of the GAIP surveys is to identify conductivity anomalies, which may be directly associated with copper sulphide, or with conductive rocks that may host copper sulphide. The Canbelego and Caballero project areas lie within EL6105, a joint venture with Aeris Resources Ltd (ASX:AIS); Helix holds 70% and manages the JV, Aeris 30%. The Bijoux prospect, also being surveyed but with results pending is 100% held by Helix as with the rest of Helix's Cobar regional tenements. The Canbelego GAIP survey consisted of 28 survey lines, each 2.9km long and spaced 200m apart extending from north of the Main Lode Mineral Resource7 to south of the Caballero copper prospect. Further details on the IP survey specifications and data processing are provided in Attachment 1 (JORC Table 1)

COMPETENT PERSON STATEMENT

The information in this report that relates to exploration results, Mineral Resource estimates and geological data for the Cobar projects is based on information generated and compiled by Mr. Gordon Barnes and Dr. Kylie Prendergast who are both employees and shareholders of the Company. Mr. Barnes and Dr. Prendergast are Members of the Australian Institute of Geoscientists. They both have sufficient experience that is relevant to the styles of mineralisation and types of deposits under consideration and to the activities being undertaken to each qualify as Competent Person(s) as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr. Barnes and Dr. Prendergast have consented to the inclusion of this information in the form and context in which it appears in this report

Contact:

Tel: +61 (0)8 9321 2644

Email: helix@helixresources.com.au

Web: www.helixresources.com.au

Media

David Tasker

Chapter One Advisers

Tel: 0433 112 936

Email: dtasker@chapteroneadvisors.com.au

About Helix Resources

Helix Resources is an ASX-listed resources company which is 'all-in on copper' exploration in the prolific copper producing region of Cobar, NSW. The strategy is to generate new copper targets on its large, underexplored ground position and test them through drilling to make new discoveries. The Company possesses a sizable ground position across three tenement groups which are largely untested despite being located within 50km of significant copper producing operations. The western tenements consist of 30km of contiguous strike and the Company is advancing a pipeline of wholly owned copper opportunities, as well as the Canbelego JV Project (70% owned and operated by Helix and 30% owned by Aeris Resources) where a Mineral Resource of 32.8kt of contained copper has been estimated (refer Appendix A). The eastern tenement group encompasses more than 150km of prospective strike and includes the 100% owned high-grade CZ copper project.

(C) 2024 Electronic News Publishing, source ENP Newswire