Ann: New High-Grade Copper Massive Sulphide Intercept Collerina, page-22

Technician,

I'm not trying to take the piss, but .........................

"I’ll say it again this is the most exciting time in this company’s history ...."


From 22 years ago and just think what 1996 $$$ can buy now.


From the article below:

Six weeks ago Helix was trading at 32c and just one of many explorers on the Gawler Craton going about the tough work of drilling holes and trying to understand SA's geology.
Yesterday the company hit a high of $2 a share, valuing the group at $100 million.


https://www.copyright link/news/golden-future-dawns-once-again-in-the-sa-desert-19961122-k76yd

Golden future dawns once again in the SA desert

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by Simon Jemison
Mining companies big and small have caught gold fever in a remote region of South Australia. Simon Jemison has a look at what the fuss is all about.
The blue sky has returned to South Australia's vast red deserts.
Viewed as little more than a sand pit and devoid of mineral wealth for the better part of 150 years, SA now appears to be the hottest gold spot on the Australian resources map.
A speculative boom over the past two weeks has doubled the share price of almost 20 listed junior miners with ground in SA and boosted the combined market capitalisation of these one time "penny dreadfuls" to almost $500 million.
After a century of miners crossing the Nullabor to develop Western Australia's gold industry, Perth mining companies are trekking back to the Eyre Peninsula.
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Helix Resources is one of many mining companies riding the speculative wave which has thrust SA's Gawler Craton - the geological nomenclature for the Eyre Peninsula - forward as Australia's newest grassroots gold play.
Six weeks ago Helix was trading at 32c and just one of many explorers on the Gawler Craton going about the tough work of drilling holes and trying to understand SA's geology.
Yesterday the company hit a high of $2 a share, valuing the group at $100 million.
Other explorers such as Equinox Resources, Grenfell Resources, Minotaur, Goldstream, Adelaide Resources, Pima Mining, Magnum, Lakes, Desertsone, Dominion and Resolute Samantha have all been the beneficiaries of a significant rerating of their tenements in the past week.
Major mining houses such as Pasminco, MIM, Normandy, Newcrest, and North are also in on the action, while US copper giant Phelps Dodge has teamed up with explorer Equinox Resource.
Helix spent its first eight years in search of platinum in Australia and took up ground in SA three years ago before turning its attention to gold.
It now holds 6000 sq km of land around Lake Everard, 250km north-east of Olympic Dam in the heart of the Eyre Peninsula.
On Monday Helix reported significant gold assays of 36m at 4.4 gram per tonne, 112m at 1g/t and 96m at 0.73g/t at one of two anomalies drilled as part of a program to test six anomalies over a 25sq km field.
The drilling results of all six anomalies should be in by mid-December, allowing the company to plan a diamond drilling program for the New Year.
"Obviously it is very early days, but what these results may suggest is the potential of large low-grade ore body similar in geological age and setting to the fluids which created Olympic Dam," says Helix managing director Rob Mosig.
"For the large companies with their demands for million-ounce mines, SA may well in the future show that you don't need to go to Africa or South America to find big long-life resources," Mr Mosig said.
The finds could provide a much-needed fillip for SA regional towns such as Tarcoola, Port Augusta and Whyalla, which face uncertain futures as established industries wind down.
The township of Tarcoola was founded in the 1890s as a gold-digging area, but now resembles a ghost town with just 25 residents.
Australian National said earlier this year it would move out of town and the police station and the local school are already boarded up.
But all that could change if Grenfell's Peseverance prospect proves economic.
Helix is not the first of the "Gawler Gold" explorers to hit paydirt, but its recent ride has been the most spectacular and comes after two years of intensive exploration.
Helix is the fifth explorer to have a deposit of note in SA. The others include Dominion Mining and Resolute Samantha's Challenger discovery, Grenfell Resources' Perseverance prospect, Minotaur's Birthday find and Pasminco and Werrie Gold's Portia prospect.
As in the previous pages of SA history (copper 1860, gold 1890), mining may again rescue the ailing economy.
Since the 1900s South Australia has been something of an afterthought in the mining game, yet the State was crucial to the early success of Kalgoorlie.
History records Paddy Hannan as one of Australia's most famous prospectors with his discoveries at Kalgoorlie. And Sam Pearce is equally well known for finding what became Kalgoorlie's rich Golden Mile.
Buried deep in the history books is the fact Paddy worked in South Australia's Teetulpa gold fields before he moved West. And equally important, Sam Pearce's find was a direct result of the seed capital provided by Adelaide's colonial gentry through several mining syndicates put together by Adelaide entrepreneur Mr George Brookman.
Before gold dust was even noticed by Paddy Hannan at Mt Charlotte at Kalgoorlie in 1893, SA had already exhausted three small goldfields in the Barossa ranges, Adelaide and Teetulpa to the east of the Flinders Ranges.
In the 1890s Adelaide stockbrokers and entrepreneurs like George Brookman and George Doolette funded syndicates such as the Adelaide Prospecting Party, which later became the Coolgardie Gold Mining Co and created sister companies such as Ivanhoe Gold
Mining Co.
Grenfell Mining, which holds the Perseverance prospect near the old Tarcoola workings, is named after Grenfell St, the site of the old Brookman mining offices in Adelaide.
The WA gold fever of the 1890s and early 1900s and Brookman's syndicates saw the Adelaide stock exchange house 112 gold companies by 1935.
Helix's success this week, the results of nearby fellow explorers and WMC's decision to spend $1.25 billion at Olympic Dam ensures 1996 will be regarded as a watershed year for the small SA mining industry.
Exploration licence applications in SA have tripled in two years, while exploration expenditure has grown fourfold to $35 million a year.
And 40 per cent of the State is now pegged by mining companies, and the number of mining companies active in the state has risen to more than 100.
GAWLER SHARE SURGE Nov 7 Nov 21 Adelaide Res. 21c 31.5c Desertstone 15.5c 19c Dominion 70c 80c Equinox 39c 67c Goldstream 29c 44.5c Grenfell 29c 54c Helix 37c 1.91c Minotaur 33c 63c Merritt 9c 15c Pima 14.5c 30c Resolute $2.47 $2.76




MI