Helix 90%, Glencore 10% (diluted to a 1% NSR)
Cobar Gold Project
The Cobar Gold Project covers an area of approximately 188km² and is located 40km south-east of Cobar in Central West NSW. Tenements EL6140 and EL6501 cover a package of Girilambone Beds unconformably overlain in places by younger Meryula Formation, and numerous historic workings are located within the project area.
- 2 RC drill programs completed which confirm a significant gold system exists.
- Better drilling results to date (aqua regia assays) include:-
– 13m @ 4.2g/t Au HRRC006
– 18m @ 2.3g/t Au and 4m @ 4.4g/t Au HRRC008
– 42m @ 1.5g/t Au (incl. 5m @ 3.3g/t, 6m @ 3.0g/t and 7m @ 2.7g/t) HRRC025
– 32m @ 1.0g/t Au (incl. 5m @ 5.4g/t) HRRC012
– 14m @ 2.0g/t Au (incl. 5m @ 4.0g/t) HRRC018
- Fire Assays indicate a +15% uplift in Au from Aqua Regia assay results
- Maiden resource estimation underway
- Preliminary Scoping Study work has commenced