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HELIX RESOURCES LIMITED — Capital/Financing Update 2014
May 6, 2014
65059_rns_2014-05-06_4a728f89-c9b6-4463-9a83-45bf9424ae5c.pdf
Capital/Financing Update
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Helix Resources Limited Copper and Gold in Chile and Australia
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ASX Announcement
7 May 2014
CODELCO Completes Joshua Project Evaluation
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CODELCO, the world’s largest copper producer has completed a 6 week evaluation of the Joshua Project.
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CODELCO’s evaluation of the Joshua Project has confirmed Helix’s geological model and independently assessed the economic potential of the project.
Helix Resources Limited is pleased to announce CODELCO has completed a detailed evaluation of the Joshua Project in Chile. CODELCO (“National Copper Corporation of Chile“) is the world’s largest copper producing company with current annual production of 1.8Mt. The evaluation was conducted over a 6 week period and assessed the geological model for the Joshua Project and evaluated potential economic scenarios based around that model.
The work consisted of a review of Helix’s activities to date, site visit and field mapping completed by CODELCO Geologists and a compilation of the information into a series of potential economic scenarios. Scenario analysis for the Project was centred on the Target 1 area and the recommendation from the CODELCO report was to conduct drilling to confirm the geological model. The Joshua project currently has multiple exploration targets.
In the past six months Helix has been engaged with several companies assessing the Joshua Project. In that time the company has received two offers to earn an interest in the project. Both offers received were inadequate to test the overall merits and multiple targets of the Joshua project.
Industry interest in the Joshua Project remains high and Helix is currently engaged with a number of production focussed companies under Confidentiality Agreements. The Company continues to work toward securing a Joint Venture arrangement that will adequately test the geological model and advance the Joshua asset.
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For further information: Mick Wilson Managing Director [email protected] Ph: +61 8 9321 2644
Pasquale Rombola Chairman [email protected] Ph: +61 413 239 630
Helix Resources Limited A.C.N. 009 138 738 Incorporated in Western Australia Suite 7 / 29 Ord Street, West Perth WA 6005
Email: [email protected] Email: [email protected]
P: +61 8 9321 2644 F: +61 8 9321 3909 www.helix.net.au