Join our daily newsletter At The Bell to receive exclusive market insights
Helix Resources (ASX:HLX) is branching out into copper and gold exploration in North America with the acquisition of the White Hills project in Arizona.
Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.
The company has entered conditional binding agreements to take on the exploration project, which comprises seven tenements across 23 square kilometres, and lies within the Arizona Arc – a belt prospective for IOCG (iron oxide copper-gold) and porphyry copper-gold deposits.
The potential for gold exploration is also hinted at by the fact this Arc is a smaller part of the Nevada Walker Lane gold trend, which hosts several deposits holding multi-million ounces of gold.
“The White Hills project in Northern Arizona provides [us] with an exciting opportunity in a part of the world-renowned for producing world-class copper/gold deposits,” Helix’s executive chairman Mike Povey said.
Some exploration has already been done, such as rock chip and soil sampling – which show numerous areas of copper and gold anomalism – plus airborne geophysics (both magnetics and radiometric), ground gravity, and airborne hyperspectral.
Also at Helix’s disposal is data from 10 historic drill holes only investigated for gold.
More market news
Never-ending: And just like that, Trump’s tariffs are back causing more market chaos
Meet GeoGeorge: The HotCopper poster so accurate he got hired as an analyst
“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,” Mr Povey explained.
“[We intend] 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.”
Helix has been trading at 0.2 cents.
Join the discussion: See what HotCopper users are saying about Helix Resources and be part of the conversations that move the markets.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.
