ADELAIDE
GEOSYNCLINE
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A series of conceptual gold and base metal targets in the Adelaide
Geosyncline of South Australia have been identified from reprocessed
geophysical data including magnetics, gravity and radiometric
images.
Mapping and sampling of areas of outcrop has been conducted over the Fleurieu Project (ELA570/06) for incorporation with historic stream sediment sampling data and geophysical data interpretations. The results of a more detailed sampling program are expected later in the year. The compilation of this work will identify priority areas for further exploration during the 2007-2008 field season. Target zones for base metal mineralisation have been identified within the Parachilna Project (EL3814). These priority areas are based on historical data and additional interpretation of geophysical and mapping datasets. The Olary Project consists of two licence applications and covers an area of 1400km² located SW of the historical rare-earth/uranium Radium Hill Mine (produced 852 tonnes U³O8 to 1960). Although a similar style of bedrock mineralisation is unlikely to outcrop on the Helix application areas, there remains potential for areas undercover and also has scope for palaeo-channel Uranium. |
| The exploration model for the Olary project suggests several late-stage granites are associated with the gold and base metal occurrences in the district. Several prospects and historical workings containing gold, copper, silver and bismuth are located within the application areas and provide encouragement that the granites may have influenced the development of larger mineral deposits. These targets will be assessed and systematically explored upon granting of the tenements. | |
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PARACHILNA PROJECT - SOUTH AUSTRALIA |
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Background The Parachilna Project was identified by Helix for the series of large diapiric domes present in Adelaidean Stratigraphy in the area. Historic copper mines and occurrences are hosted in these structures including the Blinman Copper Mine, where approximately 200,000 tonnes of copper ore grading 5% Cu was mined from workings to a depth of 165m from surface in the late 1800’s and early 1900’s. Helix’s exploration model considers these diapiric domes to be dynamic fluid systems. The possibility of intrusives in or below the domes controlling metal rich alteration fluids in the reactive host sediments is evidenced by the presence of sericite alteration, calc-silicate skarn style outcrops, remobilised high-grade hematite and exotic metals suites (incl. elevated As, Mo, Bi, Sb, Hg, V and Co). There appears to be a strong correlation between the presence of mafic pods and copper occurrences within these domal structures. Exploration Update During the quarter Helix received a SA government PACE funding grant of $100,000 to target the company’s copper mineralisation model under shallow cover. Helix is presently negotiating with several drill contractors to secure a rig with the aim to commence drilling in the 3rd quarter of 2008. Field work during the quarter examined several historical workings as well as regional targets. Mapping and soil sampling was undertaken on the extensions to the Blinman Mine, the China Wall Prospect and Break Neck Gorge area. Soil sampling was undertaken on a 100m x 25m grid, with two size fractions (-20 to +40 microns and – 40 microns) for a total of 1000 samples collected for assay. The size fraction that provides the most consistent response from this initial work will be used for future surveys on the Project, (assays are pending). Mapping was carried out on a 1:1000 scale and concentrated on alteration zoning and important lithological associations. This will allow for more effective targeting of the upcoming drilling. Helix has also secured a geophysical contractor during the quarter to undertake a detailed aeromagnetics survey of 7,500 line kilometres over the central zone of the Project. The survey is expected to commence late April. |