Uralla Project - Queensland
Helix Resources Limited 100%EPM 18373 "One Tree" and Applications EPM 18374 "Bucks Tank"
Background
The “One Tree” Exploration Permit covers an area of approximately 250km2 and is contiguous with the “Bucks Tank application which covers approximately 375km2. The centre of the applications is located approximately 100km South of Normanton. Local roads which traverse the Bucks Tank application link with the Burke Development Road connecting Normanton, Cloncurry and several other regional centres.
The Project covers the northern extent of the Saxby magnetic complex, under Mesozoic to Recent cover. Exploration work by Falcon Minerals (FCN) approximately 40km to the south of the project has intersected significant IOCG style Au mineralisation including a drilling intercept of 17m @ 6.75g/t Au along with other intercepts of anomalous nickel and copper. This work highlights the prospectivity of our applications, along strike within the same geological domain.
Drilling conducted by BHP immediately to the SW of the applications intersected anomalous sediment hosted basemetals (Copper and Zinc) assayed in a pyritic shale unit supporting the possibility of sediment hosted base-metal mineralisation in the Mesozoic cover sequence.
The company anticipates grant of the applications 2H11 wherein field activities will commence.
