Helix Resources Limited announced that Mitchell Services Ltd. has mobilised a RC rig to the Canbelego Copper Project and commenced drilling on 17 January 2023. A program of approximately 1,000m comprising 6-8 holes is designed to infill shallow copper mineralisation ahead of an updated Mineral Resource estimate planned for late March 2023. Results from late 2022 such as CBLRC057 intersecting 16m at 3.21% Cu from 117m downhole (including 11m at 4.58% Cu) highlighted possible extensions of high-grade copper mineralisation at shallow levels which this drilling plans to infill.

The present Inferred Mineral Resource estimate of 1.5 million tonnes at 1.2% Cu3 was undertaken in October 2010. The company's drilling on behalf of the joint venture has identified new high-grade copper shoots that continue with depth for several hundred metres below the existing Mineral Resource. An updated Mineral Resource estimate is appropriate to provide an interim basis for early-stage development studies.

The deeper diamond drilling program resumed on 13 January with drilling in progress to test highly conductive geophysical targets reported in December 2022. Initial results are expected in late January.