Highlights

  • Bijoux RC drilling intersected 11m at 0.94% copper from 140m depth, including 4m at 1.90% copper from hole BJRC013.
  • Mineralisation confirmed as authentic Cobar-style chalcopyrite in quartz-carbonate-pyrite shearing, open at depth and along strike.
  • Canbelego Copper Project JV with Aeris Resources hosts a JORC resource of 32,800 tonnes of contained copper.
  • Shares surged 10.00% to $0.044 on 2 October 2026, up 25.71% over twelve months on a $8.47 million market cap.

The Cobar Basin has a history of producing deep, high-grade copper mines with exceptional vertical continuity — and Helix Resources Ltd(ASX:HLX) just landed its first compelling evidence that Bijoux belongs in that tradition.

Exploration Breakthrough at Bijoux

Helix Resources has achieved significant technical progress across its copper-focused tenement portfolio in the Cobar mining district of central New South Wales. Recent reverse circulation drilling across the Bijoux copper prospect, within the broader Rochford Copper Trend, targeted coincident auger geochemical anomalies and gradient array induced polarisation chargeability targets, intersecting thick zones of high-grade primary copper sulphide mineralisation.

Assay results from Bijoux include 11 metres at 0.94% copper from 140 metres depth, featuring a higher-grade core of 4 metres at 1.90% copper in hole BJRC013. Petrological logging confirms mineralisation as primary chalcopyrite within intense quartz-carbonate-pyrite shearing and brecciation — validating an authentic Cobar-style system that remains completely open at depth and along strike.

Strategic Position in the Cobar Basin

The Cobar Basin is globally celebrated for hosting deep, structurally controlled, high-grade polymetallic deposits with remarkable vertical continuity, including the CSA Mine, Peak Gold Mines, and Tritton. Helix controls over 2,000 square kilometres of contiguous tenement across the Rochford, Collerina, and Cobar structural trends, targeting high-tenor copper and gold systems along major regional crustal thrust faults.

In addition to 100%-owned tenure, Helix holds the Canbelego Copper Project in joint venture with Aeris Resources. Canbelego hosts a JORC Mineral Resource of 32,800 tonnes of contained copper, providing established in-ground resources that anchor the company's regional exploration push. Multiple operating processing mills and infrastructure networks across the Cobar Basin provide strategic optionality for toll-treatment agreements.

Market Valuation and Trading Performance

In the completed ASX session on 2 October 2026, shares in Helix Resources surged $0.004 or 10.00% to close at $0.044, trading between $0.042 and $0.044 on robust turnover of 340,086 shares. At this price level, Helix commands a market capitalisation of $8.47 million, reflecting a 25.71% net gain over twelve months — strong relative performance within the junior exploration sector.

Helix operates as a lean, discovery-driven exploration enterprise with a tightly managed capital structure. Available cash is allocated directly to high-priority in-ground targets, providing high operational leverage to positive drilling assays.

Upcoming Drilling Catalysts

Helix's upcoming catalysts centre on follow-up RC and diamond drilling at Bijoux to test down-plunge extensions and define the strike limits of high-grade copper shoots. Downhole electromagnetic surveys will be systematically conducted across completed drill holes to detect off-hole conductive plates, vectoring directly into massive sulphide accumulations.

Concurrently, large-scale auger geochemical sampling and geophysical surveys are advancing across regional prospects along the Collerina trend, generating a pipeline of drill-ready targets. Demonstrating resource expansion at Canbelego and confirming economic scale at Bijoux are critical milestones for shareholder value creation.

Exploration and Operational Risks

Cobar-style mineralisation typically occurs in vertically dipping, structurally complex lenses requiring precise drill targeting, where step-out holes may intersect structural pinches or barren fault zones. As an exploration entity dependent on equity capital markets, Helix requires regular funding injections, carrying inherent dilution risk.

Operational execution in New South Wales is also subject to weather disruptions, agricultural landowner access negotiations, environmental permitting requirements, and cost inflation across contract drilling services.