nsw - helix...o exploration target* additional 2- 5mt at similar grades (1.5-3% cu)* to a depth of...

Corporate Details

Ordinary Shares

486.97m

Market Cap

$7.8m

ASX Code

HLX

Board of Directors

Mr Peter Lester

Non-Executive Chairman

Mr Michael Wilson

Managing Director

Mr Timothy Kennedy

Non-Executive Director

Mr Jason Macdonald

Non-Executive Director

Contact

78 Churchill Avenue

Subiaco, WA 6008

T: +61 8 9321 2644

F: +61 8 9321 3909

E: [email protected]

W: www.helix.net.au

Quarterly Report - Period Ending 31 December 2019

Highlights Collerina Copper Project – NSW

❑ The next phase of RC drilling targeting new zones of high grade copper commenced in

December. Drilling is testing extensions to copper mineralisation surrounding the

Maiden Resource Estimate block model.

o Maiden Resource of 2.02Mt at @2.03% Cu and 0.1g/t Au (Indicated and Inferred) refer

table A in Appendix 1. Currently 40kt contained copper – open in multiple directions.

❑ Ongoing drill program is designed to prove scale and increase the resource base within the

broader Exploration Target* in order to advance Collerina toward initial economic studies.

o Exploration Target* additional 2- 5Mt at similar grades (1.5-3% Cu)* to a depth of 450m

from surface at Collerina (refer ASX announcement 11 June 2019).

o Key events for first half of 2020: drilling, initial metallurgical testing and preliminary mine

studies to support a subsequent Resources Estimate upgrade.

❑ Regional auger soil surveys continue targeting additional copper systems along the Collerina

Copper Trend.

o First-pass auger soil samples collected covering the Tindalls, Widgelands and Collerina

South areas. Initial results have highlighted several new copper trends requiring urgent

follow-up.

o A further 110 samples were collected on the Homeville trend. Results are pending.

o Forward program includes infill soil auger sampling and prioritising of Collerina Trend

regional targets for initial drill testing in 2020 field season.

Regional Prospects – NSW

❑ Rochford Prospect: Scout mapping undertaken on extensions of previously reported pXRF

readings of brecciated ironstone sub-crop samples that returned Cu (up to 0.17%), Pb (up to

0.18%) and Bi (up to 0.12%).

o Additional ironstone subcrop and prospector pits discovered 1.5km along strike, nearby

to first-pass auger soil samples returning anomalous copper readings in pXRF (up to

580ppm Cu).

o Further mapping, infill auger sampling and surface geophysics planned to prioritise

areas for first-ever drilling at Rochford in 2020 program.

Samuel Project – Chile

❑ A 1250m fully JOGMEC funded DDH drilling program recently completed at Samuel Project.

JOGMEC has approved additional US$315,000 budget to the end of March 2020.

❑ Comprised an 800m, first ever deep hole, testing a large copper porphyry target in the

southern portion of the Project area, and a 450m hole testing copper mineralisation

prospective for Manto or IOCG-style copper systems.

❑ Drilling has intersected copper bearing sulphides and strong alteration, in favourable

geological settings in both holes. Core has recently been logged, photographed and cut for

assay. Results are pending

Joshua Project – Chile

❑ Helix retains 100% ownership of the Joshua. The Joshua Project is one of several projects

being showcased by the Chilean Mines Department at PDAC in March 2020.

Corporate

❑ The Company raised $1m in a placement to fund drilling in NSW and working capital.

*Cautionary Statement: Whilst the near-surface strike continuity and geological controls of the Collerina mineralisation are well understood. The potential

quantity and grade of the Exploration Target remains conceptual until drill tested. Geophysical and structural evidence is present to provide confidence in

the geometry and dimensions, however, there has been insufficient drilling within these plunge extensions to estimate Mineral Resources in the broader

shape to date. Therefore it should be considered uncertain if further exploration drilling will result in defining additional Mineral Resources within the broader

Collerina Deposit extensions.

mailto:[email protected]

http://www.helix.net.au/

Page | 2

Quarterly Activities

Collerina Copper Project – NSW

The current drilling program is aiming to drill test extensions to copper mineralisation in the Exploration

Target surrounding the initial Maiden Resource Estimate wireframe at the Collerina Copper Deposit.

Drilling Program

Down-Dip Plunge Parallel Target

A significant outcome from this phase of drilling is the intersection of massive, semi-massive and

disseminated copper sulphide mineralisation in targeted zones approximately 180m down-dip from the

resource wireframe of the Central Zone. This is consistent with the revised geological and structural model

and provides real scope to increase the scale of Collerina mineralisation as drilling continues. Selected

zones have been sampled and sent to the Laboratory for assay.

DHEM surveys will be undertaken in selected holes to assist in vectoring toward further zones of massive

sulphide accumulation on this new (and open) emerging copper zone.

Figure 1: Schematic long section of the Collerina Copper Deposit showing the initial exploration target corridor (blue shape), with high

priority targets surrounding the Maiden Resource (yellow shape).Current drilling campaign (Red traces), have intersected zones of

massive, semi-massive and stringer copper sulphide in the Plunge Parallel Target from shallow depths.

Northwest Extension

The drilling also tested the northwest extension of the Collerina Deposit. This extension is coincident with

an airborne/moving loop EM trend and is trending toward a bulls-eye magnetic feature.

A previously drilled hole, CORC036 located on the western edge of the Collerina Deposit, intersected

broad oxide copper mineralisation returning 23m @ 0.5% Cu from 37m, including individual 1m intervals

of up to 3.6% Cu (from 56-57m) for oxidised (weathered) copper mineralisation¹.

Holes drilled on this extension have intersected zones of oxide and transition copper mineralisation

(including native copper) in two fence lines of drilling. This extends the known Collerina mineralised

system by approximately 150m to the west/northwest.

Significantly, drilling is vectoring toward a magnetic anomaly a further 190m WNW of the recent drilling.

This magnetic feature is interpreted as a possible feeder structure, and was recently modelled as a pipe-

Page | 3

like body dipping steeply to the north (70-80 degrees) and modelled from a depth of 50-60m below

surface. A drill hole is now being planned to test this zone at the end of the current drilling phase.

Figure 2: Schematic Plan showing location of current drill traces (red lines) from initial program targeting shallow extensions and parallel

positions in the Exploration Target (blue shape) surrounding the Maiden Resource wireframe (yellow shape) overlain on aeromagnetic

image. Magnetic feature has been modelled as a north dipping cylindrical feature (possible VMS feeder feature?). Insert image shows

native copper flecks intersected at 66m downhole in a 10m mineralised zone from 58m in the second hole of the current program.

This extension zone remains open to the west-northwest. Further drilling is planned after the DHEM

surveys to test the plunge and dip of this zone deeper into fresh rock. Similar oxide widths and copper

grades improved significantly below 80m from surface in the nearby Central Zone.

Footwall Target Zone

A broad zone of oxide copper mineralisation has been observed in a hole drilled approximately 40m W-

SW of CORC009 (53m @ 0.5%Cu from surface, incl. 5m @ 4.2% Cu from 48m to EOH). Copper oxides

were observed in hematised sediments from 4m to 60m in the new hole before transitioning into a

laminated cherty horizon. The host geology is similar to the Central Zone, however appears to be

overturned, consistent with a fold closure.

This possible footwall fold position is poorly drill tested down dip/plunge. This new intersection of oxide

copper mineralisation may represent the near surface expression of an off-hole DHEM conductor below

the Central Zone that was identified in earlier drilling at the deposit. This position could represent another

fold thickening zone of sulphide accumulation plunging parallel in the footwall of the Central Zone of the

Collerina Deposit.

Figure 3: Schematic Plan showing location of the footwall Target; plunge of this position is poorly drill tested to date

Page | 4

DHEM Surveys

Downhole Electromagnetics (DHEM) is an effective tool for targeting thicker higher grade the copper

sulphide at Collerina.

Helix is continuing to use DHEM to vector drilling toward zones of massive sulphide accumulation as the

drill program progresses. A program to survey strategic holes in the recently completed initial program

is underway in January 2020.

Figure 4: Recent Soil Auger on Collerina Copper Trend with copper in soil anomalies emerging from ongoing regional soil programs. New copper targets areas circled in yellow.

Region Auger Soil Programs

Regional auger sampling has outlined four brand new copper targets, along the Collerina Trend. Initial portable

XRF (pXRF) readings* form coherent copper-in-soil anomalies at each prospect (refer Figure 4).

These copper anomalies are coincident with geological/structural targets and are supported by

geophysics(magnetics and airborne EM) including:

• At Collerina South, copper-in-soil anomalism coincides with intense folding in the SE extension of the

Collerina Deposit host rocks;

• At Widgelands NE, a copper anomaly has been identified where the Collerina Trend splits into the

regionally extensive host trends containing both the Tritton Mine and Kurrajong Deposit

• At Tindalls, a 1km long copper-in-soil anomaly coincides with untested copper workings and two

historic mine shafts

Page | 5

Ongoing Collerina Programs

Further auger soil sampling is continuing over the summer period, testing areas including the Homeville Trend

extension, a trend north of the Collerina Deposit.

During the pause in drilling over the festive period, 110 samples were collected on the Homeville Trend

extension, considered a priority geological setting for a Collerina-style repeat mineralised system. Results from

this recent work are pending.

Up to 2000 additional samples are expected to be collected during this next phase of regional sampling. Robust

copper-in-soil anomalous areas will be assessed, tested by surface EM surveys and prioritised for initial drill

testing.

This work continues to illustrate the high value potential targets that are being generated from within Helix’s

asset portfolio. The new prospect areas being targeted have not been subject to any modern exploration.

Regional Copper Projects – NSW

During the Quarter, scout mapping was undertaken within the 1.7km x 0.7km copper in soil anomaly called

Rochford, 7.5km SE of the Canbelego Deposit was undertaken. The prospective zone was initially identified

from a cluster of pXRF readings from the Auger soils completed in 2019, with readings of up to 580ppm Cu.

Importantly the copper anomaly is coincident with the subtle ridgeline hosting a brecciated ironstone.

Initial pXRF readings taken from the sub-cropping brecciated ironstone returned Cu (up to 0.17%), Pb (up to

0.18%), Zn (up to 0.08%) and Bi (up to 0.12%).

Figure 5: photos of gossan from locations flanking a subtle ridge line running NW, within the Rochford copper in soil anomaly.

Scout mapping has identified several additional areas where ironstones sub-crop. Including an area with an

historic prospector pit, close to an anomalous copper-in-soil reading.

Further mapping is planned in early 2020, with infill auger soils and surface geophysics also planned. A work

program for drilling at Rochford has been submitted to the mines department for approval.

The presence of the anomaly over the strike of the host ridgeline all the way to the south eastern boundary of

the tenement has led to Helix applying for a small tenement (ELA5879) directly east of EL8633. The 12 unit

application covers the extensions of this copper trend for approximately another 6km. The tenement is

expected to be granted in the first quarter of 2020.

Page | 6

Figure 6: New Copper Target(Rochford Prospect) – Sub-copping ironston, anomalous in Cu, Pb, Zn & Bi, approximately

7.5km southeast of the Canbelego Copper Deposit (new auger soils – squares - pXRF, previous soils – circles- Lab assays).

At the Canbelego Copper deposit (7.5km northwest), copper mineralisation is developed as structurally

controlled, sub-vertically plunging, semi-massive to massive pyrite and chalcopyrite shoots. The material noted

on surface at this new target zone, has a similar texture - brecciated iron-rich material surrounded by a matrix

of iron dominated material (refer Figure 5). The iron-rich units identified at surface, may relate to similar massive

sulphide accumulation in primary rock below.

Samuel Project – Chile

Japanese organisation and JV Partner JOGMEC has funded a further 1,250m drilling program, completed in

early January 2020, from a budget of US$435,000 (AUD$640,000). The drilling targeted a remaining target from

the Stage 2 target areas for 450m, and an 800m hole into a large porphyry target in the southern portion of

the project area. Core from these holes have been logged, photographed and cut for assay. Results from the

program are pending.

The program’s first hole was an 800m diamond hole into the Southern Porphyry target. The hole passed

through the porphyry type alteration, hosting disseminated and stringer vein copper sulphides visually

identified in the core as the hole entered the porphyry system below (Refer Figure 7). Results from this drilling

are pending.

The drilling confirms the presence of porphyry related copper mineralisation at the Samuel Project, and is the

second green-field copper porphyry system discovery by Helix in Chile.

Page | 7

Figure 7: Schematic sections of the Southern Porphyry Target at Samuel Project showing interpreted

alteration distribution and location of initial hole on a magnetic inversion image

A second 450m diamond hole was drilled approximately 2km north-northeast of the porphyry

target, where copper oxides and alteration have been identified adjacent to a parallel

northwest trending structure (Refer Figure 8). This area is considered prospective for manto

and vein-style copper. Results are pending

Figure 8: Location of drill holes on ASTER hydrothermal alteration image draped on aerial image (Left).

Location of drill holes and figure 7 sections (A-A’) and (B-B’) on geology mapped by Helix’s Chile technical

team (Right).

Page | 8

Figure 9 Location of the Samuel Project, situated on the intersection of two major regional structures, 25km southwest

of Ovalle City – Region IV Chile

Joshua Copper Project – Chile

Helix retains 100% ownership of the Joshua Project and is now seeking a new funding partner for this large

copper porphyry project, close to infrastructure in Region IV, Chile. During the quarter a site visit and technical

due diligence was conducted by an interested party, a funding proposal is expected in the first quarter of 2020

Helix has also recently been informed that the Joshua Project is one of several projects being promoted by the

Chilean Ministry for Mining at PDAC in Toronto this year.

Figure 10: Aster alteration image draped on topography showing the overall 6.5km x 3km Joshua alteration anomaly.

Drilling on the eastern portion of Joshua has identified increasing copper grades at depth associated with multiple porphyry events. The new western target zones are at lower altitudes, closer to depths intersected on the eastern side.

Page | 9

Competent Persons Statement

The information in this announcement that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information reviewed by Mr M Wilson

who is a full time employee of Helix Resources Limited and a Member of The Australasian Institute of Mining and Metallurgy. Mr M Wilson has sufficient

experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a

Competent Person as defined in the 2004 and 2012 Editions of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore

Reserves’. Mr M Wilson consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Details of the assumptions underlying any Resource estimations are contained in previous ASX releases or at www.helix.net.au

¹ For full details of exploration results refer to previous ASX announcements on Helix’s website. Helix Resources is not aware of any new information or data

that materially effects the information in this announcement

Forward-Looking Statements

This ASX release may include forward-looking statements. These forward-looking statements are not historical facts but rather are based on Helix Resources

Ltd.’s current expectations, estimates and assumptions about the industry in which Helix Resources Ltd operates, and beliefs and assumptions regarding Helix

Resources Ltd.’s future performance. Words such as “anticipates”, “expects”, “intends”, “plans”, “believes”, “seeks”, “estimates”, “potential” and similar

expressions are intended to identify forward-looking statements. Forward- looking statements are only predictions and are not guaranteed, and they are

subject to known and unknown risks, uncertainties and assumptions, some of which are outside the control of Helix Resources Ltd. Past performance is not

necessarily a guide to future performance and no representation or warranty is made as to the likelihood of achievement or reasonableness of any forward-

looking statements or other forecast. Actual values, results or events may be materially different to those expressed or implied in this presentation. Given

these uncertainties, recipients are cautioned not to place reliance on forward looking statements. Any forward- looking statements in this announcement

speak only at the date of issue of this announcement. Subject to any continuing obligations under applicable law and the ASX Listing Rules, Helix Resources

Ltd does not undertake any obligation to update or revise any information or any of the forward-looking statements in this announcement or any changes in

events, conditions or circumstances on which any such forward looking statement is based.

Appendix 1

Table A: Collerina Deposit Interim 2019 Mineral Resource Estimate (0.5% Cu Cut-off)

Classification Type Tonnes Cu Au Cu Au

Mt % ppm t Oz

Indicated Ox/Tr 0.17 1.1 0.0 1,900 200

Inferred Ox/Tr 0.46 0.6 0.0 2,700 100

Total Ox/Tr 0.63 0.7 0.0 4,600 300

Indicated Fresh 0.83 2.6 0.2 21,800 6,600

Inferred Fresh 0.57 2.5 0.1 14,100 2,500

Total Fresh 1.4 2.6 0.2 35,800 9,100

Indicated Ox/Tr 0.17 1.1 0.0 1,900 200

Fresh 0.83 2.6 0.2 21,800 6,600

Inferred Ox/Tr 0.46 0.6 0.0 2,700 100

Fresh 0.57 2.5 0.1 14,100 2,500

Total

2.02 2.03 0.1 40,400 9,400

(Rounding discrepancies may occur in summary tables) Refer to ASX Announcement on 11 June 2019 for full details.

This announcement has been authorised for release by Mr Michael Wilson, Managing Director.

Page | 10

Tenement And Location Nature of

Interest Project Name

Equity (%) held at start of

Quarter

Equity (%) held at end of

Quarter

NSW COPPER & GOLD PROJECTS (INCL. JV's)

EL8768 (formally EL6336) Granted Collerina HLX 100% precious and base

metals

HLX 100% precious and

base metals

EL6140 Granted Restdown

(Cobar Gold)

Helix 90%, Glencore moving

to 1% NSR royalty


to 1% NSR royalty

EL6501 Granted

South

Restdown

(Cobar Gold)


to 1% NSR royalty


to 1% NSR royalty

EL6739 Granted Muriel Tank

(Cobar Gold)


to 1% NSR


to 1% NSR

EL7438 Granted Quanda HLX 100% HLX 100%

EL7439 Granted Fiveways HLX 100% HLX 100%

EL7482 Granted Little Boppy HLX 100% HLX 100%

EL8433 Granted Boundary HLX 100% HLX 100%

EL 8633 Granted Rochford HLX 100% HLX 100%

EL 8608 Granted Yanda Creek HLX 100% HLX 100%

EL 8845 Granted Darbarlara HLX 100% HLX 100%

EL8710 Granted Honeybugle HLX 100% HLX 100%

EL 8096 Granted Mundarlo HLX 80% Private Partner 20% HLX 80% Private Partner

20%

ELA 5879 Application Bijoux NIL HLX 100%

CHILE PROJECTS

EXPLORATION CONCESSIONS

Joshua (13 concessions) Granted Joshua HLX 100% HLX 100%

Bogarin (13 concessions) Granted Samuel HLX 100% HLX 100%

EXPLOITATION CONCESSIONS

Blanco Y Negro 1/20 Granted Blanco Y Negro HLX 100% HLX 100%

Joshua (5 concessions) Granted Joshua HLX 100% HLX 100%

Bogarin (6 concessions) Granted Samuel HLX 100% HLX 100%

Mining Tenements acquired during the Quarter ELA5879 – Bijoux Project

Mining Tenements disposed during the Quarter

Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report

+ See chapter 19 for defined terms 1 September 2016 Page 1

+Rule 5.5

Appendix 5B

Mining exploration entity and oil and gas exploration entity quarterly report

Introduced 01/07/96 Origin Appendix 8 Amended 01/07/97, 01/07/98, 30/09/01, 01/06/10, 17/12/10, 01/05/13, 01/09/16

Name of entity

Helix Resources Ltd

ABN Quarter ended (“current quarter”)

27 009 138 738 31 December 2019

Consolidated statement of cash flows Current quarter $A’000

Year to date

(6 months) $A’000

1. Cash flows from operating activities

1.1 Receipts from customers - -

1.2 Payments for

(a) Exploration & evaluation (838) (1,352)

(b) Staff costs – exploration & evaluation (67) (119)

(c) Development - -

(d) Production - -

(e) Administration and corporate costs (177) (280)

(f) Staff costs – administration and corporate (42) (110)

1.3 Dividends received (see note 3) - -

1.4 Interest received 2 3

1.5 Interest and other costs of finance paid (2) (3)

1.6 Income taxes paid - -

1.7 Research and development refunds - -

1.8 Other - 16

1.9 Net cash from / (used in) operating activities (1,124) (1,845)




Year to date

(6 months) $A’000

2. Cash flows from investing activities

2.1 Payments to acquire:

(a) property, plant and equipment - -

(b) tenements (see item 10) - -

(c) investments - -

(d) other non-current assets - -

2.2 Proceeds from the disposal of:

(a) property, plant and equipment - -

(b) tenements (see item 10) - -

(c) investments - -

(d) other non-current assets - -

2.3 Cash flows from loans - -

2.4 Dividends received (see note 3) - -

2.5 Other - -

2.6 Net cash from / (used in) investing activities - -

3. Cash flows from financing activities

3.1 Proceeds from issues of shares 1,000 1,000

3.2 Proceeds from issue of convertible notes - -

3.3 Proceeds from exercise of share options - -

3.4 Transaction costs related to issues of shares, convertible notes or options

(66) (66)

3.5 Proceeds from borrowings - -

3.6 Repayment of borrowings - -

3.7 Transaction costs related to loans and borrowings

- -

3.8 Dividends paid - -

3.9 Other – funds from joint ventures 362 875

3.10 Net cash from / (used in) financing activities 1,296 1,809




Year to date

(6 months) $A’000

4. Net increase / (decrease) in cash and cash equivalents for the period

4.1 Cash and cash equivalents at beginning of period

392 600

4.2 Net cash from / (used in) operating activities (item 1.9 above)

(1,124) (1,845)

4.3 Net cash from / (used in) investing activities (item 2.6 above)

- -

4.4 Net cash from / (used in) financing activities (item 3.10 above)

1,296 1,809

4.5 Cash and cash equivalents at end of period 564 564

5. Reconciliation of cash and cash equivalents

at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts

Current quarter $A’000

Previous quarter $A’000

5.1 Bank balances 327 158

5.2 Call deposits - -

5.3 Bank overdrafts - -

5.4 Term deposits 237 234

5.5 Cash and cash equivalents at end of quarter

(should equal item 4.6 above) * / ** 564 392

* The Company is currently looking capital raising options in order to continue meaningful exploration, including ongoing resource drilling on its NSW projects.

** The Company has and will receive further payments following the closure of the quarter in relation to Joint Venture payments (circa $596,000). These payments cover the expenditure required and management fees, therefore the exploration in 9.1 includes expenditure which will be matched by cash calls from its joint venture partner.

6. Payments to directors of the entity and their associates Current quarter $A'000

6.1 Aggregate amount of payments to these parties included in item 1.2 77

6.2 Aggregate amount of cash flow from loans to these parties included in item 2.3

-

6.3 Include below any explanation necessary to understand the transactions included in items 6.1 and 6.2

Payment of salaries to executive Directors and non-executive Director.



7. Payments to related entities of the entity and their associates Current quarter $A'000

7.1 Aggregate amount of payments to these parties included in item 1.2 -

7.2 Aggregate amount of cash flow from loans to these parties included in item 2.3

-

7.3 Include below any explanation necessary to understand the transactions included in items 7.1 and 7.2

N/A

8. Financing facilities available Add notes as necessary for an understanding of the position

Total facility amount at quarter end

$A’000

Amount drawn at quarter end

$A’000

8.1 Loan facilities - -

8.2 Credit standby arrangements - -

8.3 Other (please specify) - -

8.4 Include below a description of each facility above, including the lender, interest rate and whether it is secured or unsecured. If any additional facilities have been entered into or are proposed to be entered into after quarter end, include details of those facilities as well.

N/A

9. Estimated cash outflows for next quarter $A’000

9.1 Exploration and evaluation ** (227)

9.2 Staff costs – exploration and evaluation (124)

9.3 Development -

9.4 Administration and corporate (120)

9.5 Staff costs – administration and corporate (37)

9.6 Other -

9.7 Total estimated cash outflows 508



10. Changes in tenements (items 2.1(b) and 2.2(b) above)

Tenement reference and location

Nature of interest

Interest at beginning of quarter

Interest at end of quarter

10.1 Interests in mining tenements and petroleum tenements lapsed, relinquished or reduced

No change No change No change No change

10.2 Interests in mining tenements and petroleum tenements acquired or increased

ELA5879 – Bijoux Project

Application N/A 100% subject to grant

Compliance statement

1 This statement has been prepared in accordance with accounting standards and policies which comply with Listing Rule 19.11A.

2 This statement gives a true and fair view of the matters disclosed.

Sign here: ............................................................ Date: 31 January 2020 (Company Secretary)

Print name: Benjamin Donovan

Notes

1. The quarterly report provides a basis for informing the market how the entity’s activities have been financed for the past quarter and the effect on its cash position. An entity that wishes to disclose additional information is encouraged to do so, in a note or notes included in or attached to this report.

2. If this quarterly report has been prepared in accordance with Australian Accounting Standards, the definitions in, and provisions of, AASB 6: Exploration for and Evaluation of Mineral Resources and AASB 107: Statement of Cash Flows apply to this report. If this quarterly report has been prepared in accordance with other accounting standards agreed by ASX pursuant to Listing Rule 19.11A, the corresponding equivalent standards apply to this report.

3. Dividends received may be classified either as cash flows from operating activities or cash flows from investing activities, depending on the accounting policy of the entity.

nsw - helix...o exploration target* additional 2- 5mt at similar grades (1.5-3% cu)* to a depth of...

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