Helix Resources has launched significant geophysical surveys at its White Hills copper-gold project in Arizona and confirmed promising metallurgical results at its Gold Basin gold deposit, underpinning potential low-cost development. The company also completed a $2 million capital raise and secured permits for further sampling in New South Wales.
- Geophysical surveys commenced at White Hills targeting deep copper-gold anomalies
- Strong metallurgical recoveries support low-cost heap-leach potential at Gold Basin
- Successful $2 million rights issue and placement completed
- Permits granted for auger sampling at Cobar Muriel Tank gold project
- Cash position at $0.75 million with plans for further capital raising
Exploration Momentum in Arizona
Helix Resources has kicked off an ambitious exploration campaign at its White Hills project in Arizona, deploying advanced geophysical techniques to probe for copper and gold mineralisation down to depths of around two kilometres. The program includes a passive seismic survey using Fleet Space Technologies’ Ambient Noise Tomography system and a Controlled-Source Audio-Magnetotellurics survey, both designed to map subsurface structures and intrusive bodies that could host significant mineral deposits.
These surveys aim to refine the geological model of the White Hills area, particularly focusing on the Section 2 anomaly, which has already yielded high-grade rock chip samples with gold grades up to 23 grams per tonne and copper up to 5.7 percent. The integrated geophysical data will guide a planned diamond drilling program to test the most promising targets, potentially unlocking a district-scale copper-gold system.
Gold Basin Metallurgical Breakthrough
Meanwhile, at the Gold Basin project, metallurgical testwork on oxide gold mineralisation at the Cyclopic deposit has delivered excellent recoveries, with gold extraction rates reaching up to 86% in bottle roll tests and 80% in column leach tests. These results confirm the deposit’s amenability to low-cost heap-leach processing, which could translate into lower capital and operating expenses for future development.
The tests also demonstrated strong agglomeration and compaction properties, supporting the feasibility of heap-leach pads up to 100 metres high, well above industry standards. This metallurgical performance enhances the economic potential of Gold Basin and sets the stage for an updated mineral resource estimate incorporating over 35,000 metres of recent drilling.
Strategic Moves and Financial Position
On the corporate front, Helix successfully completed a $2 million capital raising through a rights issue and placement, bolstering its funds to advance exploration activities. The company also received permits to commence auger sampling at the Muriel Tank gold project in New South Wales, reflecting ongoing commitment to its Australian portfolio despite relinquishing one tenement in the Cobar region.
However, the company’s cash reserves stood at $0.75 million at the end of December 2025, providing just over one quarter of funding at current expenditure levels. Helix has indicated plans to undertake further capital raising in the coming quarter to sustain its exploration programs and working capital needs.
Looking Ahead
Helix’s immediate focus will be on progressing the White Hills drilling program, updating the Gold Basin resource estimate, and expanding exploration efforts in both Arizona and New South Wales. The integration of geophysical, geochemical, and geological data will be critical in refining targets and unlocking value across its portfolio.
With promising metallurgical results and a clear exploration roadmap, Helix Resources is positioning itself to make significant strides in copper and gold discovery, though the success of upcoming drilling and capital raising efforts will be pivotal in shaping its near-term trajectory.
Bottom Line?
Helix’s exploration advances and metallurgical successes set the stage, but funding and drilling results will define its next chapter.
Questions in the middle?
- What will the upcoming White Hills drilling reveal about the copper-gold potential?
- How will the updated Gold Basin resource estimate impact project economics and development plans?
- Can Helix secure sufficient funding to maintain momentum beyond the next quarter?