|Wed Aug 31, 2005|
New Target Discovered At The Leicester Property - Strike Length Of Copper Mineralization Extended To 10 Kilometres.
|Helio Resource Corp. (TSX-V: HRC) (the "Company") is pleased to report the discovery of a new copper zone at the Leicester Property, located approximately 400 km northwest of Windhoek, Namibia. The Leicester licence is subject to an earn-in agreement with Yale Resources Inc, the terms of which are outlined in the Company's news release dated March 21, 2005, which can be viewed at www.helioresource.com This new target -- named Quest -- is located 1.8 km west of known hard-rock copper mineralization and extends the known strike length of intermittent copper/silver mineralization along the Rehderstal fault to more than 10 km. The Company was unaware of this new target as no documentation of it existed in the historic records. The Quest Target is now the third high-priority exploration target within the Leicester licence.|
The 8 x 3km Rehderstal Target, located 1.8 km to the east of Quest, is the current focus at Leicester with drilling planned for late in 2005. The Belvoir Target, located an additional 8 km east of Rehderstal, continues to provide encouraging results.
The mineralized outcrop area of the Quest Target measures approximately 40 by 50 metres in size, and is open under cover along strike and down-dip. The target comprises outcrops of deformed clastic and carbonate lithologies. Whereas mineralization within the Rehderstal Target typically consists of copper oxides, the mineralization at Quest predominately comprises disseminated copper sulphides, mainly bornite, but also including chalcopyrite, covellite, digenite and chalcocite. Assays from continuous chipchannel samples over the Quest Target are pending and will be reported upon receipt.
The Quest Target was found as a result of following-up one of three separate copper-insoil anomalies, identified by Falconbridge in 1968, located to the west of the Rehderstal Target. This was part of an extensive resampling program over trenched areas within the Rehderstal Target area. In total 323m of trench and chip-channel sampling (180 samples including standards, blanks and duplicates) has been completed. Most samples were twometre long continuous chip samples from outcrop or old trenches and another 23 selected grab and outcrop samples were also taken. Results are pending. The purpose of this resampling program was to confirm the results Falconbridge reported between 1968 and 1971, which was the last significant exploration program at Leicester, as well as to follow up on untested soil anomalies.
Extensions to the Gradient Array IP -- Resistivity survey previously reported (press release dated April 21, 2005) are currently underway and these will cover the Quest target. A number of detailed Pole-Dipole IP lines will also be surveyed in order to gain better information on the geometry of the mineralized bodies in order to firm up the drill targets.
Chris MacKenzie, M.Sc., C.Geol., Helio's Executive Chairman and a Qualified Person as designated by NI 43-101, supervised the sampling and quality control program for this sampling program and has reviewed the technical content of this news release. The samples were prepared at the Analytical Laboratories facility in Windhoek, Namibia and are being assayed at ALS Chemex in Johannesburg, South Africa.
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
HELIO RESOURCE CORP.,
Suite 800 -- 625 Howe Street
Vancouver, British Columbia V6C 2T6
Phone: (604) 668-8356 Fax: (604) 668-8366
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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