|Thu Apr 13, 2006|
Tevrede Property Reverts to Helio
|Helio Resource Corp. (TSX-V: HRC) ("Helio" or the "Company") reports that Boulder Mining Corporation (TSX-V: BMC) has withdrawn from the option agreement concerning EPL 2909 (Tevrede). As a result, Boulder does not retain any interest in the Tevrede property.|
Since June 2002, Boulder has spent approximately C$1,800,000 on exploration at Tevrede, and needed to spend an additional C$1,200,000 by June 3, 2006 in order to complete the earn-in. Boulder funded extensive geophysical and geochemical surveys, and two drill programmes, totaling 6,188m. Exploration has focused on the potential for iron oxide copper gold targets, but also led to the discovery of the +2km long Azurite Hill gold trend, where drilling intersected 9.8g/t gold over a 2m width. Further drilling is required in this area, where recent geophysical surveys indicate good potential for extensions to the gold system. Additionally, a number of other gold and IOCG targets remain to be drill tested, including Quartzite Ridge and West End Pits.
- Historic exploration along the Quartzite Ridge target outlined the presence of highly anomalous gold values occur along a 15 km strike section of quartzite. Historical sampling here included a continuous channel sample grading 121g/t Au over 3m. Gold is associated with magnetite, hematite and pyrite within silicified zones and quartz veins. The controls on mineralization are poorly understood and require further investigation.
- The West End Pits gold occurrence, located to the north of the Quartzite Ridge target, is on strike from the north-south trending Azurite Hill gold trend. Visible gold occurs in sheeted quartz veins hosted by granodiorite. The target size is unknown due to extensive cover. Grab samples from veins exposed in prospecting pits excavated in the 1920s gave values between 1.5 g/t and 43.0 g/t Au, with an average of 14.6 g/t Au.
Helio intends to seek a partner to continue the exploration work at Tevrede.
Helio Resource Corp., based in Windhoek, Namibia, is one of Southern Africa's leading exploration companies and specializes in project generation. Helio is developing 11 gold, copper and diamond properties in Namibia, Botswana and Tanzania. As part of its approach to project development, Helio has forged partnerships with firms such as Teck Cominco, Indicator Minerals and Yale Resources to advance a number of its projects.
For additional information, please contact Irene Dorsman at (604) 668 8363 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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