What did Helix Resources (ASX:HLX) acquire in the West Pilbara?

Helix Resources completed the acquisition of a 50% interest in the Weerianna Gold–Lithium Project (Mining Lease M47/223) from Western Metals. The deal gives Helix immediate exposure to an established mining province in Western Australia.

Why is the location of the Weerianna Project significant for Helix Resources (ASX:HLX)?

The project is located in a premium geological address just four kilometres from the world-class Andover Lithium Project. Andover was recently secured by SH Mining—a joint venture between Hancock Prospecting and Chilean chemical giant SQM—in a massive ~$1.7 billion transaction.

What are the key lithium exploration results recorded at the Weerianna Project so far?

Initial exploration data at the project has formally documented the presence of lithium pegmatites. Early surface exploration looks encouraging, with rock chip sampling yielding grades up to ~1.49% Li2O.

What is the main risk regarding the gold resource at the Weerianna Project?

The primary risk is that the 62,700-ounce gold estimate is strictly a historical figure. A Competent Person has not yet completed sufficient work on behalf of Helix Resources to classify it as a current Mineral Resource under modern JORC guidelines.

Image for illustrative purposes only. Not a real photo.

Helix secures strategic West Pilbara gold-lithium stake

Written by Mahathir BayenaPublished May 21, 2026, 11:30 PMLast Updated Jul 6, 2026, 10:10 AM

Helix Resources (ASX:HLX) completed the acquisition of a 50% interest in the highly prospective Weerianna Gold–Lithium Project from Western Metals.

Located within the rapidly developing lithium province of Western Australia’s West Pilbara region, the acquisition encompasses Mining Lease M47/223.

The transaction provides Helix with immediate exposure to advanced gold resources and emerging lithium potential, whilst establishing a clear pathway to 100% full ownership via a structured right to acquire the remaining 50% stake.

The Weerianna Project is situated in a premium geological address, located approximately 4km from the world-class Andover Lithium Project.

Andover is held by Azure Minerals, a wholly owned subsidiary of SH Mining, which is a high-profile joint venture between Chilean chemical giant Sociedad Química y Minera de Chile S.A. and Hancock Prospecting.

SH Mining recently secured Andover as part of a ~$1.7 billion transaction.

Initial exploration data at Weerianna has already documented the presence of lithium pegmatites, with encouraging rock chip results yielding grades up to ~1.49% Li₂O.

The lease holds a historically reported inferred JORC 2012 estimate of gold mineralisation, sitting at 975,700 tonnes at 2 g/t Au for 62,700 ounces, utilising a cut-off of 1 g/t Au.