|Mon Apr 17, 2006|
Drilling to Commence on the Lokgwabe Diamond Project, Botswana
|Helio Resource Corp. (TSX-V: HRC) ("Helio" or the "Company") is pleased to announce that its partner, Indicator Minerals Inc (TSX-V: IME), will start a 1000m RC drill programme at the Lokgwabe Diamond Project in Botswana on April 18th.|
The programme will test up to ten high priority magnetic anomalies, interpreted to represent kimberlite pipes, which range up to 380m in diameter. Several of the magnetic targets are coincident with kimberlite indicator mineral anomalies that include G10 garnets.
In addition, Indicator has identified a number of other magnetic targets, generated during the recent high resolution airborne magnetic survey (see Indicator's news release dated January 11, 2006), on which they will conduct detailed ground magnetic surveys. These targets have the potential to be added to the current drill programme.
Helio can earn a 100% interest, subject to a royalty, in the Lokgwabe project from Jatinga (Pty) Ltd, a privately owned Botswanan company. Indicator can earn up to 80% of Helio's interest by covering all costs to the completion of a bankable feasibility study and issuing 1,000,000 shares to Helio.
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 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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