|Tue Mar 15, 2005|
RC Drilling at Otjitombo Confirms Historic Copper Results and Proves Significant Gold - Cobalt Mineralisation
|March 15, 2005 Helio Resource Corp. (TSX-V: HRC) ("Helio") is pleased to announce results from six reverse circulation (RC) drill holes from its 100% owned Otjitombo property. All six holes intersected copper mineralization, the most significant of which were:|
The Otjitombo property, located in northern Namibia, hosts a series of copper in soil anomalies, separated by sand cover, that extend over a 7km+ distance. The style of mineralisation at Otjitombo exhibits similarities to the Copperbelt of Zambia and DRC.
The RC holes reported here were drilled to confirm historic results from work conducted in the 1970s, to test the gold content of the mineralised zones, and to test new ideas regarding structural controls on mineralisation. Secondary copper oxides, together with chalcocite and dominant chalcopyrite in the sulphide zone, are hosted within veined and brecciated sedimentary rocks.
Five of the holes were drilled on Target B, an area measuring 250m x 150m, which was drilled by Bantu Mining in the 1970s, and one hole (OTR 5) was drilled on Target A, approximately 500m south of Target B. The ground between Targets A and B is covered by transported sand and has never been drill tested. IP geophysical surveys conducted by Helio indicate that mineralisation is continuous under the sand cover between the two targets.
Holes OTR 1 to 3 were drilled on a 100m wide NNE-SSW section (see attached image). Hole OTR 4 was drilled due west from the same section line. Hole OTR 6 was collared 100m east of the section line and drilled towards the west. The results of this drilling, coupled with the historical drill data, indicate that the main area of copper mineralisation on Target B is located within a northwest plunging breccia zone which is at least 30 to 60m thick and which is open to the northwest and southeast. To the southeast of the drilled area lies an 800m x 400m IP anomaly, located under transported sand cover and having the same trend as the main mineralised zone on Target B. This anomaly will be drill tested in the ongoing diamond drill phase of the programme.
Current results compare well with historic results - the average grade and thickness of 12 vertical holes drilled by Bantu Mining in 1976 to 40m depth within a 30m radius of OTR1 was 23m grading 1.06% Cu. In addition the presence of significant gold and cobalt values in the drill holes has now been confirmed.
Hole OTR 5 was collared adjacent to a trench which returned 71m grading 1.59% Cu, and was drilled northwards, perpendicular to bedding. The hole intersected strong copper and gold mineralisation over a significant width (22m @ 1.06% Cu and 0.26g/t Au). However, detailed mapping and interpretation of the drill data indicates that mineralisation is predominantly controlled by a northeast-dipping sheeted vein system which occurs to the north of OTR 5, rather than by bedding. The optimum orientation for testing the sheeted vein system is to drill southwards, perpendicular to the veining, from a collar location 100m north of OTR 5. Helio intends to confirm this by way of the ongoing diamond drilling programme.
DIAMOND DRILLING UPDATE
Having completed the RC drilling programme, Helio has commenced a phase of diamond drilling at Otjitombo. The RC holes reported above were planned to test previously known outcropping occurrences, and were located outside the major IP targets generated by Helio. The current diamond drill programme is mainly planned to test these IP anomalies. Over 500m of diamond drilling has been completed in 4 holes to date. A further 10 to 15 holes are planned. To date, all holes have intersected sediment-hosted quartz-sulphide veining and disseminated, stringer or breccia-hosted secondary copper and chalcopyrite dominant sulphide mineralisation in altered zones. A second diamond drill rig has been mobilised onto the property to increase drilling productivity.
Note of Caution - It is expected that results from the diamond drilling programme will become available in the next two months.
SAMPLING AND QA-QC
Assay samples for the RC holes were made up from 2m pipe-sampling composites. Pulp samples were prepared at the Analytical Laboratories facility in Windhoek, Namibia. Assaying for gold and multi-element ICP was conducted at both the Global Discovery Laboratories and ACME Analytical Laboratories facilities in Vancouver, Canada. The laboratories applied internal quality control checks and Helio implemented a QA-QC programme consisting of duplicates (1 in 20-25 samples) and blanks/standards (1 in 30-40 samples). Chris MacKenzie, Chartered Geologist and Helio's Executive Chairman, is the Qualified Person as designated by NI43-101, and he is directly responsible for overseeing all aspects of Helio's exploration activities, including sampling integrity and the implementation of the quality control programme.
For additional information, please contact Richard Williams at (604) 668 8356 or by e-mail at firstname.lastname@example.org or visit the Company's website at www.helioresource.com.
ON BEHALF OF THE BOARD OF DIRECTORS,
"Richard D. Williams"
Richard D. Williams, P.Geo
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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