Helix Resources (ASX:HLX) has received support to upgrade its resource estimate at the Gold Basin Project in Arizona, US following the company’s most recent drilling program at the site.
The new resource extension drillholes are reported within 66 gold intercepts which show drilled interval widths greater than 15m. The company says the results continue to demonstrate scale potential in a favourable jurisdiction.
Executive Chairman Mike Povey says the drillholes are expected to support a “substantial” resource upgrade.
“At Gold Basin, near-surface oxide gold is exceptionally clean, with 2022 metallurgical tests by GXX confirming excellent heap leach recovery and low cyanide consumption – key advantages for future development,” Povey says.
“Extensive detachment structures hosting oxide-gold mineralisation in the Walker Lane trend are well-established and sought after targets.
“Significant exploration upside exists and is further enhanced by consolidating the White Hills Project, where the prospective detachment zone is believed to extend and copper potential is also expected.”
Helix notes preliminary metallurgical testwork shows “excellent” recoveries and supports the company’s belief that there is potential for future low capital expenditure and low operating costs for oxide gold heap-leach development scenarios.
The Gold Basin Project includes six targets which outcrop at surface and have an inferred resource of 8.35 million tonnes containing 299,800 ounces of gold with an average grade of 1.12 grams per tonne gold based on a gold cut-off grade of 0.5g/t.
The project’s region hosts numerous porphyry copper deposits and also covers the southernmost extent of the Walker Lane gold trend.
Helix Resources is a copper and gold mineral explorer focused primarily on its large and prospective land package in central New South Wales, Australia.
Write to Aaliyah Rogan at Mining.com.au
Images: Helix Resources
