USD $4,111.97
Goldman Arizona move adds strategic copper-gold ground to Helix’s portfolio
Helix Resources Limited (ASX:HLX) has entered into conditional binding agreements to acquire the White Hills copper-gold project in Arizona, USA. The project comprises seven tenements across 23 km² in a region known for its prolific copper-gold potential.
The project sits within the Arizona Arc, a geological belt prospective for both copper-gold porphyry and IOCG deposits. It lies within the southern portion of the Nevada Walker Lane gold trend, which hosts several multi-million ounce gold systems.
Previous exploration at White Hills included soil and rock chip sampling, airborne geophysics (including magnetics, radiometrics, and hyperspectral surveys), ground gravity, and the review of 10 historical drillholes. These drillholes had only been analysed for gold, though rock chip and soil sampling have indicated strong copper and gold anomalism.
The site is easily accessible year-round, located just 1.5 hours by road from Las Vegas and approximately 50 km from the operating Mineral Park copper porphyry mine, providing excellent infrastructure links.
Helix views the acquisition as complementary to its existing copper-gold portfolio in Cobar, New South Wales, and is conducting a full review of its Cobar assets, with the potential for joint venture opportunities.
Helix’s Executive Chairman, Mike Povey commented:
The addition of the White Hills project in Northern Arizona provides the Company with an exciting opportunity in a part of the world renowned for producing world-class copper/gold deposits. The results of geochemical exploration to date has provided compelling evidence of a copper/gold system that is the best candidate that I have seen in many years for more intensive exploration efforts.
Our intention is to move as quickly as possible in our evaluation of White Hills and the vendors, two highly experienced geologists with an intimate knowledge of working in the western USA, will be of great help in our exploration efforts.
The board and management remain entirely focused on building long-term value for our shareholders, and we are confident this acquisition will play a key role in that growth. We look forward to progressing this outstanding opportunity.
