Well the quarterly is out and the iron Ore projects are looking good.
The reason we haven't heard anything about the Tunkillia project is quote "The IOCGU* target in the Tunkillia regional exploration program remains untested due to ongoing Department of Environment access agreement issues for the Yellabinna Regional Reserve." Unquote.
Highlights from the report are
PROJECT OVERVIEW
IRON ORE
• Regional drilling commenced at the Yalleen Iron Ore Joint Venture, on the Robe Exit Prospect. JV partner
API (Aquila/AMCI) have intersected additional channel iron (CID), close to surface, on a broad spaced (1km
Centres) drill pattern. Initial drilling results provide further encouragement that additional CID exists within the
areas being targeted.
• Yalleen Iron Joint Venture partners agree to 10,000m drilling in a $2.3m exploration program for the 2007-
2008 field season. The drilling will infill the Kumina Creek Prospect to a sufficient level to facilitate a resource
calculation, as well as test additional channel iron and bedded iron targets identified from the 2006 Hoist EM
survey and field mapping.
• Helix has assessed the Yalleen Iron Ore Project to have the potential to host a series of significant iron ore
deposits over an area in excess of 25km², with the most advanced drilled target [Kumina Creek] having the
potential for in excess of 100Mt of CID at grades of between 57% and 60% Fe.
GOLD
• Glenburgh Project –Numerous drilling targets have been defined from gold in soil anomalies at Firebird (up to
2.5g/t Au), Barracuda East (up to 3.1g/t Au), Barracuda South (up to 0.6g/t Au), Challenger (up to 0.8g/t Au)
and North East 3 (up to 0.6 g/t Au). The Company has now secured heritage and environmental clearances
after some delays and a drilling contractor has been secured to complete a 5,000m slimline RC drilling
program commencing August.
• Tunkillia Project - JV partner and manager Minotaur Exploration calculated a new resource for Area 223 –
comprising a total of 800,000oz Au and 1,600,000oz Ag to a depth of 200m from surface. Economic studies
are underway.
URANIUM
• Uranium JV partner - Toro Energy are awaiting environmental approvals before testing five (5) priority
palaeo-channel uranium targets on Helix’s Lake Everard tenements.
GENERATIVE
• Field examination of the South Australian Adelaidian Projects has identified a series of base metal targets
including copper mineralisation on the Parachilna Project and Gold/Tungsten anomalism at the Fleurieu
Project. The recent acquisition of an additional 1400km² of tenement applications in the Olary District, (an
area prospective for gold, base metals and uranium) signals the company’s return to active exploration in
South Australia.
The entire report is too large to post so you will have to obtain from ASX etc