Helix Resources (ASX:HLX) anticipates a resource upgrade at its Gold Basin Project in Arizona, US, following a successful drilling program. The company, a copper and gold mineral explorer with a primary focus on its land package in central New South Wales, Australia, is encouraged by the latest results from the site. Helix Resources is a copper and gold mineral explorer focused primarily on its large and prospective land package in central New South Wales, Australia.
The company reported 66 gold intercepts, with several drillholes showing interval widths exceeding 15 metres. These results, according to Helix, highlight the potential for significant scale within a favourable operating environment. Executive Chairman Mike Povey stated that the drillholes are expected to underpin a “substantial” resource upgrade at Gold Basin.
Povey highlighted the near-surface oxide gold’s purity and the favourable metallurgical test results from 2022, which indicated excellent heap leach recovery and low cyanide consumption. These factors are seen as key advantages for future development. The Gold Basin Project currently includes six surface-outcropping targets, boasting an inferred resource of 8.35 million tonnes containing 299,800 ounces of gold at an average grade of 1.12 grams per tonne, based on a 0.5g/t gold cut-off grade.
Helix also believes there is potential for low capital expenditure and operating costs for future oxide gold heap-leach development scenarios, supported by preliminary metallurgical testwork indicating excellent recoveries. The project is strategically located in a region known for porphyry copper deposits and the Walker Lane gold trend, offering further exploration upside, especially with the consolidation of the White Hills Project.
