News
Show printable version of 'Gold Mineralized Rock Float Discovered At Otjimkauru' in a New Window
News Releases
 Wed Oct 12, 2005
Gold Mineralized Rock Float Discovered At Otjimkauru

 Helio Resource Corp. (TSX-V: HRC) ("Helio" or the "Company") is pleased to announce the discovery of gold-bearing rock float from the Otjimakuru gold property, Namibia.

The gossanous boulder assayed 0.21g/t gold, and also contained anomalous concentrations of pathfinder elements, such as arsenic. This is a significant development for the project in that there has been no previous gold exploration on the property and this is the first indication of the presence of a gold mineralized system.

The project is located immediately west of the Company's Vredelus property, which is the subject of an option agreement with Teck Cominco. The exploration target at Otjimakuru is a skarn hosted vein system similar to AngloGold Ashanti's 5.2 million ounce Navachab gold mine, located 90 km to the southwest, and African Rainbow Minerals' 0.95 million ounce Otjikoto gold deposit, located 150 km to the northeast of Otjimakuru.

The recently completed first phase of exploration at Otjimakuru included 60 line km of IP geophysics and soil sampling. Results from the soil sampling and geophysicis are pending and will be released when available.

The Otjimakuru property is subject to an option agreement with Yale Resources Ltd. of Vancouver. Yale can earn a 75% interest in the Otjimakuru Property by spending $1.8 million over 4 years and issuing 775,000 common shares to the Company.

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 programs at Otjimakuru and has reviewed the technical content of this news release. The samples were prepared and analyzed at ALS Chemex in Johannesburg, South Africa.

For additional information, please contact Richard Williams at (604) 668 8356 or by e-mail at
richard@helioresource.com

ON BEHALF OF THE BOARD OF DIRECTORS,
"Richard D. Williams"
Richard D. Williams, P.Geo
President

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
 
 

You can return to the Top of this page