Helix Resources' shares gain on cobalt-nickel leverage
The company's proximity to cobalt-nickel mineralisation provides potential upside.
Company
ASX:HLX
Helix Resources Ltd is a resources company which is exploring for copper in the prolific copper producing regions of Cobar, NSW and the Bryah Basin in WA. The company possesses a sizable ground position (~3,500km 2) which is largely untested despite being located proximal to significant copper and gold producing operations. The strategy is to generate new copper and gold targets and test them through drilling to make new discoveries.
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The company's proximity to cobalt-nickel mineralisation provides potential upside.
The halt will remain in place until Friday 24th November 2017.
Potentially economic, near surface gold intercepts have been returned from five prospects.
Four mineralised prospects already identified by Helix at Cobar.
The placement of shares raised $2.21 million at $0.048 each.
Helix Resources (ASX:HLX) has been granted a trading halt by the ASX, pending details regarding a capital raising.
Helix Resources (ASX:HLX) has been granted a trading halt by the ASX.
Helix Resources (ASX:HLX) has intersected copper sulphide mineralisation on the down-plunge extension to the mineralised zone at the Collerina Copper-Zinc Prospect in central New South Wales.
Helix Resources Ltd (ASX:HLX) has been granted a trading halt by the ASX, with its shares placed in pre-open.
Helix Resources Ltd’s (ASX:HLX) drilling at the Collerina Copper Zinc Prospect in central New South Wales has extended the sulphide mineralised zone to 1,000 metres.