|Thu Apr 21, 2005|
IP and Geochemical Surveys Define Significant Targets on the Leicester Licence:
|Helio Resource Corp. ("Helio" or the "Company") and Yale Resources Ltd. ("Yale") are pleased to announce the receipt of data from recently completed geochemical and induced-polarisation (IP) geophysical surveys over the Leicester property, located in northwest Namibia, southern Africa. The surveys were designed to test large magnetic anomalies coincident with known copper mineralisation as reported in the Company's press release dated November 16, 2004 (www.helioresource.com).|
Leicester is a copper-gold target, highlighted as follows:
The surveys identified two main zones of anomalous IP chargeability, hosted in sheared granitic basement rocks and a variably brecciated volcanic and sedimentary units adjacent to the main fault:
The recently completed programme also included geological mapping and petrographic studies of the area to assist in understanding the controls on mineralization. The petrographic studies indicate that the rock units underlying the Main Anomaly contain a variety of copper minerals including chalcopyrite, bornite, chalcocite and digenite together with malachite and chrysocolla. Mineralisation is associated with magnetite, haematite and pyrite.
The next phase of work will include more detailed geological mapping and geophysical surveying within the recently discovered anomalies followed by drill testing.
Yale can earn an initial 51% interest by spending C$2,900,000 over 4 years, issuing 1,075,000 shares and making cash payments totaling C$65,000. Yale can then elect to earn an additional 24% interest (for a total 75% interest) by carrying all costs to completion of a Bankable Feasibility Study, and issuing an additional 1,000,000 shares to Helio.
Chris MacKenzie, Chartered Geologist and Helio's Executive Chairman, is the Qualified Person as designated by NI43-101 and has reviewed and approved the content of this news release.
For additional information, please contact Richard Williams at (604) 668 8356 or by email at firstname.lastname@example.org
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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