|Mon May 2, 2005|
Diamond Drilling Results and New IP Geophysical Data Confirm Potential for a Significant Copper-Gold-Cobalt System
|May 2, 2005 - Helio Resource Corp. (TSX VENTURE:HRC) ("Helio") is pleased to announce results from four diamond drill holes from its 100% owned Otjitombo property. All four holes intersected multiple zones of copper ± gold ± cobalt mineralisation, the most significant of which are:|
Helio has been conducting the drilling to follow up on multiple geophysical and geochemical anomalies. To date a total of 10 diamond drill holes have been completed, as shown on the attached map. The holes completed to date have mainly targeted known geochemical anomalies associated with outcropping mineralisation, whereas the holes to be drilled in future are mainly targeting covered geophysical (IP) anomalies.
Assays from drill holes OTD 6 to OTD 10 are pending.
Of the results obtained to date, the best intersection was recorded from Hole OTD 5 which targeted the Target A geochemical anomaly and was drilled to the south-west towards an IP chargeability anomaly. The hole intersected a number of mineralised zones with variable gold, copper and cobalt grades, associated with moderate to intense hydrothermal veining and sodic alteration. The hole drilled through a 40m thick zone of brecciated siltstone, then into siltstone with variable quartz veining. The best mineralisation is hosted by the hydrothermal breccia, which is the same unit as that intersected in Hole OTD 2, located 500m to the north on Target B. OTD 2 was drilled within 15m of the collar of hole OTR 01, which intersected 22m grading 1.11% Cu and 0.16 g/t Au (see the Company press release March 15, 2005). The true width of this breccia appears to be over 35m in places. Numerous zones of copper with or without cobalt or gold were intersected in the footwall siltstones. The breccia unit appears to dip towards the major IP anomaly (see attached map), and the dip extensions have not yet been drill tested.
Hole OTD 1 was located south of OTD 5 and was drilled to the north-east. This hole intersected siltstones and greywacke units stratigraphically lower than the target horizon: the target horizon appears to have been faulted out.
Hole OTD 3 was located 100m SE of OTD 5 and also intersected multiple zones of copper ± cobalt ± gold in the footwall siltstones of the breccia, but no breccia was intersected.
Primary mineralisation in all holes is associated with copper sulphides, predominantly chalcopyrite. Cobalt appears to be hosted by the cobalt-bearing sulphide, glaucodot, which is not necessarily associated with copper mineralisation.
As can be seen from the accompanying map, the targets that Helio is drilling are very extensive, and a number of additional drill holes are planned in order to test the multiple, covered geophysical anomalies.
The newly acquired IP data shows the presence of a significant chargeability anomaly to the southeast of the current drilling programme. This anomaly is coincident with a large copper in stream sediment anomaly (see attached map). Helio is in the process of mobilizing a Reverse Circulation drill rig to the site to test the extensive IP targets.
SAMPLING AND QA-QC
Assay samples were made up from halved drill core. Pulp samples were prepared at the Analytical Laboratories facility in Windhoek, Namibia. Assaying for gold and multi-element ICP was conducted at the ALS Chemex facility in Johannesburg, South Africa. The ALS Chemex laboratory applied internal quality control checks and Helio implemented a QA-QC programme consisting of duplicates, blanks and standards (1 of each per 20-35 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.
Mr. MacKenzie has reviewed and approved the contents of this news release.
For additional information, please contact Richard Williams at (604) 668 8356 or by e-mail at email@example.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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