HELIX EXECUTE MOU COVERING THE ‘SHERPA PROJECT’ LOCATED IN MARICUNGA BELT - CHILE
SUMMARY Memorandum of Understanding [MOU] signed with Sherpa project Vendors whereby Helix, through its Chilean subsidiary, has a right to explore and acquire 90% of the Project for US$2.7M in staged payments over 4 years
The Sherpa target is gold associated with the porphyry systems of the Maricunga Belt, located in the shadow of the Barrick/Kinross Cerro Casale JV 23Moz Au deposit and the same belt as Exeter’s Caspiche Project (26 Moz Au).
Helix is currently undertaking Due Diligence procedures and the 1st Option payment of US$60,000 is due and payable 15th January 2011