Helix Resources, via subsidiary Leichhardt Resources, has entered into separate binding letter agreements with OD4 Tom Price Pty Ltd and Omni GeoX Pty Ltd, respectively, to acquire a 51% interest in a portfolio of Western Australia projects in the Bryah Basin.
Under the terms of the agreements, Helix has the right to earn up to a 90% interest in each of the seven projects: Mikhaburra South, Mikhaburra North, Karalundi, Degrussa West, Wilgeena South, Wilgeena East, and Doolgunna.
“We are excited to announce the acquisition of a portfolio that includes the Doolgunna and Degrussa West projects, covering the same highly prospective host sequences in which the high-grade Degrussa copper deposits occur, formerly mined by Sandfire Resources,” said Helix’s Managing Director Kylie Prendergast.
“These transactions are part of our strategy to diversify and expand our copper exploration footprint into the Bryah Basin. The acquisition consolidates key landholdings within one of the most prospective copper regions in Australia and positions Helix for significant exploration upside.”
The acquisitions are viewed as complementary to Helix’s existing Cobar copper assets with the company to leverage its seasoned exploration team and geological expertise to develop focused, cost-effective exploration programs.
Source: Helix Resources