|Mon Nov 28, 2005|
New Licence Issued Potential for Diamonds, Plus Precious & Base Metals
|Helio Resource Corp. (TSX-V: HRC) ("Helio") is pleased to announce that its Namibian operating subsidiary, BAFEX Exploration (Pty) Ltd, has been granted a new Exclusive Reconnaissance Licence - ERL 82, covering 1,300,000 hectares in the area surrounding Helio's Leicester and Zebra properties, in northwestern Namibia. The licence is valid for 6 months and Helio can convert selected areas into Exclusive Prospecting Licences (valid for 3 years) once reconnaissance work is complete.|
The new licence covers much of the Kamanjab inlier, a Proterozoic-age belt of rocks which host known copper-gold-silver mineralization. The Kamanjab inlier is located on the southern margin on the Congo craton and is also considered to be prospective for diamondiferous kimberlites. Analysis of high resolution airborne magnetic data, within a small portion of the new licence and acquired by Helio in 2004, has identified numerous circular magnetic anomalies suggestive of the presence of kimberlite pipes.
Approximately 60% of the licence has been covered with high resolution magnetic surveys. Helio is currently receiving quotes for flying the remainder of the licence, the timing of which is dependent upon aircraft availability.
Helio Resource Corp., based in Windhoek, Namibia, is one of Southern Africa's leading exploration companies and specializes in innovative new-project generation. Helio is actively developing 9 prospective gold, copper and diamond properties in Namibia and Botswana. As part of its strategic approach to project development, Helio has forged partnerships with firms such as Teck Cominco, Indicator Minerals, Yale Resources, Boulder Mining and Springbok Resources to advance a number of its projects.
For additional information, please contact either Richard Williams at firstname.lastname@example.org or Irene Dorsman 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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