DISCOVERY OF LARGE GOLD TARGETS IN HELIX RESOURCES’ EASTERN TENEMENTS

Expanded Gold Anomalies Indicate Significant Prospects

Helix Resources Ltd (ASX: HLX) announced the advancement of three multi-kilometre gold targets within its Eastern Group tenements, approximately 50km southeast of Nyngan in central New South Wales. This area spans roughly 1,570 km² of copper-prospective stratigraphy in the Girilambone Group, positioned strategically west and southwest of Nyngan and south of the Collerina Copper Trend.

The company reported that new gold assay results have bolstered the scale and continuity of these gold anomalies, identified through a preliminary auger sampling program initially reported on 19 March 2024. Key among these is a 2.1 km gold anomaly at Max’s Folly and Aldebaran, showing multiple samples exceeding 20 ppb gold and remaining open to the north. Rock chip assays from Aldebaran include 8.95g/t gold, 0.10% copper, and 461 ppm arsenic; 1.59g/t gold with 0.16% copper; and 1.24g/t gold with 0.19% copper.

A newly outlined 4.7 km long gold anomaly at Fiveways West continues to show promise, open to the southwest, and at Gwinear, a 2.2 km anomaly has been delineated. These findings underscore the high gold-copper potential of the area, prompting Helix to initiate follow-up programs starting in May, including further infill auger and aircore drilling to define these targets for more intensive exploration.

Helix’s Executive Technical Director, Kylie Prendergast, provided insight into the significance of these findings:

The large-scale gold anomaly recently delineated in the Eastern tenements continues to deliver in terms of potential for a new copper-gold discovery. These are early-stage, regional scale results, but they are certainly robust, resolving into three obvious gold footprints that are continuous over 2 to 4 kilometres. The new prospective target zone Helix is defining is so far 11 km long and remains open in two directions.

The gold, arsenic and antimony signatures are considered indicative of copper-gold mineralisation such as occurs to the north at Aeris’ Tritton Copper Operations. These targets are in the right address being 75km to the south, along trend of the Aeris operations – which have been producing 20-30ktpa of copper plus gold for the past 30 years.

May and June will be very busy months for Helix following up a range of discovery opportunities in our target pipeline. In the West, along the Rochford Copper Trend, geophysical results have identified new targets adjacent to the Canbelego copper deposit. We will start drilling those in May. In the East, we are following up on these excellent gold targets, with further auger work aiming to define targets for drill testing.

Helix is continuing to advance its pipeline of copper-gold targets which have the potential to deliver a major copper-gold discovery in the highly endowed, Cobar copper-gold region close to established operations and processing facilities.

Read the full announcement

Goldman

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