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Helix Resources Limited (ASX:HLX)

ALERT: Price-sensitive ASX Announcement for HLX
Current share price for HLX : $0.041 0.04 (4,000%)+
Announcement
Release
4 Jun 2026 8:18AM
Price at Release
$0.001
Full Release
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Summary
Helix Resources Limited, through a joint venture, has commissioned a Mineral Resource Estimate for the Gold Basin project in northern Arizona. The project, which includes the Cyclopic and Stealth prospects, features a total Inferred Mineral Resource of 15.37 million tonnes at 0.57 grams per tonne of gold. These resources are classified as Inferred under the JORC (2012) standards and are deemed amenable to open pit development with heap-leach processing. Historical mining activities were noted at the Cyclopic deposit, and the report suggests that further exploration could potentially upgrade the resources to indicate economic viability.
Key Points
  • Helix Resources commissioned Mining Associates to prepare a Mineral Resource Estimate for the Gold Basin project.
  • The Gold Basin project is located in northern Arizona and includes the Cyclopic and Stealth prospects.
  • The Mineral Resource Estimate classified the resources as Inferred under JORC (2012) standards.
  • The total Inferred Mineral Resource is estimated at 15.37 Mt at 0.57 g/t Au, with a cut-off grade of 0.2 g/t Au.
  • The resource estimates are based on sample and drill spacing, continuity of mineralisation, and quality of assay data.
  • The deposits are deemed suitable for open pit development with heap-leach processing due to oxidized, low-grade mineralisation.
  • The Cyclopic deposit has an estimated 12.23 Mt at 0.50 g/t Au, while the Stealth deposit is estimated at 3.14 Mt at 0.84 g/t Au.
  • The history of mining at Cyclopic dates back to the late 1800s, with intermittent production until the 1940s.
  • The report considers the mineral resources as not economically viable unless upgraded with further exploration.
  • Helix Resources operates a joint venture to earn a 40% interest in the Gold Basin project.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.