|Wed Sep 28, 2005|
New Mineralized Occurance Extends The Copper System At Leicester
|Helio Resource Corp. (TSX-V: HRC) ("Helio" or the "Company") and Yale Resources Ltd. ("Yale") (TSX-V: YLL) are pleased to announce the sampling results from the previously announced Quest discovery (news release dated August 31, 2005) and the discovery of a new mineralized zone, named "Struthio", at the Leicester property, located in northwest Namibia some 400km northwest of the capital, Windhoek.|
As a result of the discovery of the Quest target, exploration activities were extended westwards along the Rehderstal Fault. This exercise has led to the discovery of another mineralized occurrence, 3km west of Quest, taking the total strike length of intermittent copper mineralization along the Rehderstal Fault to 13km. This new target, named Struthio, is hosted by sheared sedimentary units and has a strike length of some 600m, with a thickness of up to 5m. Both the width and strike extensions of the target are open under extensive calcrete cover. Limited sampling has been conducted at Struthio with two grab samples returned 0.43% and 0.7% copper. More systematic sampling and geologic mapping along the Struthio showing is planned.
The Quest discovery is located 1.8 km west of previously known copper mineralization and extends the known strike length of intermittent copper/silver mineralization along the Rehderstal fault to more than 10 km. The mineralized outcrop at Quest measures approximately 40 by 50 metres in size, and is open under cover along strike and downdip. Mineralization at Quest predominately comprises disseminated copper sulphides, mainly bornite, but also includes chalcopyrite, covellite, digenite and chalcocite. Two continuous chip channel samples were collected over the mineralized zone, returning the following results:
* NB - 0.5% Cu cut-off applied.
Yale can earn up to a 75% interest in the Leicester property from Helio by spending CDN $2.9 million on exploration and issuing 1,850,000 common shares to the Company over 4 years, and then solely funding and delivering a bankable feasibility study over an additional 3 years.
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 assayed by ALS Chemex in Johannesburg, South Africa.
For additional information, please contact Richard Williams at (604) 668 8356 or by email 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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