|Tue Sep 27, 2005|
Drilling Commences at Tevrede IOCG Project
|Helio Resource Corp. (TSX-V: HRC) ("Helio" or the "Company") is pleased to report that a 3000m+ combined RC / diamond drill programme has commenced at the Tevrede Iron Oxide Copper Gold ("IOCG") project, northern Namibia.|
The drill programme will concentrate in the Andesite Area in the northeast part of the property, and will test a series of coincident copper-in-soil, IP geophysics, and gravity anomalies located along a strike length of 2.8km. Drill hole lengths will vary from 200m (geochem / IP targets) to 450m (geochem / IP / deeper gravity targets).
The Andesite Area has never been drill tested, although there are a number of localized, but strongly mineralized outcrops (grab samples have returned up 9% Cu and 2.3g/t Au). Mineralization occurs as veins and breccias of quartz-magnetite-haematite-chalcocitechalcopyrite- fluorite-pyrite-gold cutting andesitic and rhyolitic volcanics. In places the andesites are strongly altered to iron-rich actinolite, a product often associated with IOCG style deposits.
Boulder Mining Corporation ("Boulder") (TSX-V: BDR) has the right to earn a 100% interest, subject to a 3% Net Smelter Return royalty, in the Tevrede Project. In turn, Boulder has granted Springbok Resources Inc. the right to earn a 70 % interest in the Tevrede Project. To complete the earn-in agreement Boulder / Springbok have to spend $3,000,000 on exploration before June 2006. As of June 2005, Boulder / Springbok had incurred expenditures of over $1,500,000.
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 this drill programme, 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 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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