Talca Gold Project - Chile
♦ Located on the coast in Region IV 140km south of La Serena; targeting high grade vein gold; district production 800koz Au with all production artisanal to date. Average grade 5-10g/t Au from historical production.♦ A detailed ground magnetic survey was completed in 2011. Interpretation of the magnetics suggests potential for several gold prospective targets with important 2nd order structures noted [key to gold mineralisation in the district]. Trenching, mapping and sampling are planned for 2012 before prioritising drill positions.
♦ A Canadian listed entity entered an option agreement 2H11 to purchase an adjacent and along strike portion of the mineral field not controlled by Helix for US$7.5M over 5 years and plan to undertake a significant geophysics and drilling program by end 2Q12. Helix will keep a watching brief on activities in the district to assist in focusing our 2012 exploration.
Helix holds a series of 100% owned exploration concession adjacent and along strike to local gold mining operations covering 9,700Ha of gold prospective ground within the mining district of Punta De Talca (Region IV).
Initial geochemistry and mapping has confirmed regional prospectivity with rock chips up to 15.2g/t Au.
Geology
Geological-structural mapping of Talca has been completed. This work recognised two well differentiated lithological zones within the Helix’s exploration licenses. These two lithological zones are clearly divided by a regional fault known as El TenienteMetamorphic Palaeozoic (Carboniferous-Permian) rocks are observed to the west of the fault. These are comprised mainly by sands and cherts and it has been noted that these rocks are favourable hosts of gold bearing veins.
To the East of the El Teniente fault a Pluton of Mesozoic (Triassic-Jurassic) granodiorites can be clearly delineated. This area has not traditionally been targeted by the miners in the past. However, the Niebla vein currently being mined for gold in the nearby mine owned by a local small scale miner is hosted in this rock type. Existence of exploration targets in this lithology are considered very good.
