Bijoux Copper Strike Extended to 290m as Acta Takes 21.8% Stake in Helix

Corporate Developments and Strategic Partnership

Helix Resources Limited (ASX: HLX) has taken a decisive step to stabilise its capital structure and sharpen its strategic focus by entering into an Implementation Agreement with Acta Investment Group Pty Ltd. This agreement, which followed a proportional takeover offer at $0.005 per share, has reduced the conditionality of the offer and secured a $500,000 placement from Acta, increasing their stake to 21.8%.

Subsequent to the quarter, Michael Povey, Acta’s nominee, was appointed Executive Chair, signaling a new leadership phase aimed at unlocking shareholder value. The Helix board expressed confidence in Acta’s intentions to collaborate on a comprehensive review of Helix’s Cobar assets and capital requirements, following the withdrawal from the Bryah Basin copper project due to adverse funding changes.

Exploration Highlights: Muriel Tank Gold Project

Helix’s exploration efforts in the Cobar-Nyngan region continue to yield encouraging results, particularly at the Muriel Tank gold project. Covering approximately 3,200 square kilometres, this largely underexplored area has revealed continuity of high-grade gold mineralisation beneath alluvial cover, confirmed by 335 auger drill holes.

Recent rock chip sampling identified multiple quartz veins with assays up to 17.92 g/t Au, including visible gold at the Golden Horseshoe prospect. The discovery of extensive blue quartz veins and quartz breccia along a 5 km structural corridor suggests significant untapped potential. Historical drilling was limited and inconclusive, underscoring the opportunity for new discoveries in this historic goldfield.

Bijoux Copper Prospect Expansion

At the Bijoux copper prospect, Helix’s follow-up reverse-circulation drilling has extended the strike length of copper sulphide mineralisation to 290 metres, up from 200 metres previously, with mineralisation remaining open at depth and along strike. Eight RC holes totaling 1,440 metres intersected copper in all holes, with notable intercepts including 4 metres at 1.06% Cu and 26 metres at 0.58% Cu.

The copper mineralisation is hosted within a structurally complex, chlorite-altered psammite and pelite sequence, exhibiting both oxide and sulphide zones. The prospect’s proximity, just 9 km from the Canbelego Copper Deposit, and its classification as a CSA-type copper system make it a compelling target for further drilling and resource definition.

Financial Position and Outlook

Helix closed the December quarter with $691,000 in cash, reflecting ongoing expenditure on exploration and corporate activities. The company’s cash burn aligns with budget expectations, and the recent capital injection from Acta provides a runway to advance its strategic review and exploration programs.

Managing Director Dr Kylie Prendergast highlighted the dual focus on securing funding and delivering exploration results as key to unlocking shareholder value. The company is actively pursuing additional capital to sustain operations beyond the immediate term, confident in its ability to attract investment given its promising asset base and recent progress.

Looking ahead, Helix’s strategic review under new leadership and the expanding footprint of copper and gold mineralisation at Cobar position the company at an inflection point. The next phases of drilling and resource evaluation will be critical in translating exploration success into tangible value.