Helene lies about one mile north of the Delamar ghosttown and mine.

The Magnolia Gold Mine was active around the same time as Delamar, around 1892-1894. The gold rush was on in the Pahranagat Valley of Nevada when farmers in 1890 and 1891 discovered gold in the hills around the mountainous valley. In 1892, the Ferguson Mining District was formed. Reports came into Pioche that assays of $75 to $1000 a ton of ore was being mined resulting in the first rush of miners stampeding to the district.

Ferguson, or Golden City, was located west of the monkey Wrench mine. At the Magnolia mine the tent town of helene sprang up. The town contained a newspaper (Ferguson Lode) and a post office from June 1892 until December 1894.