What's Happening?
Helix Resources has announced a significant upgrade to its Gold Basin Project in Arizona, following a successful drilling program. The company reported 66 gold intercepts with drilled interval widths greater than 15 meters, indicating substantial scale potential. Executive Chairman Mike Povey highlighted the project's near-surface oxide gold, which has shown excellent heap leach recovery and low cyanide consumption in metallurgical tests. The Gold Basin Project, which includes six targets, has an inferred resource of 8.35 million tonnes containing 299,800 ounces of gold. The region is known for hosting numerous porphyry copper deposits and is part of the Walker Lane gold trend.
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Why It's Important?
The expansion of the Gold Basin Project is significant for Helix Resources as it enhances the company's position in the gold mining sector. The project's favorable jurisdiction and promising metallurgical results suggest potential for low-cost development, which could attract investment and boost local economic activity. The consolidation of the White Hills Project further strengthens Helix's exploration prospects, potentially increasing its resource base and market value. This development is crucial for stakeholders, including investors and local communities, as it may lead to job creation and economic growth.
What's Next?
Helix Resources plans to continue drilling to further explore the Gold Basin Project's potential. The company aims to extend its high-grade mineralization and consolidate its position in the region. Future steps include refining additional drill targets and testing the prospective new zone. Stakeholders, including investors and local authorities, will be closely monitoring these developments, which could lead to increased investment and further resource expansion.
