|Wed Mar 21, 2007|
Helio Reports More Well-Mineralised Drill Intercepts At The SMP Gold Project, Tanzania
|Helio Resource Corp. ("Helio" or the "Company") (TSX-V: HRC) is pleased to report results from seven drill holes from the ongoing diamond drill programme at the past-producing SMP gold project in Tanzania. These results continue to support Management's view of the excellent resource potential in the SMP project area.|
Drilling has concentrated on the Snakebite and Kenge targets, where Helio has previously reported significant drill intercepts including 8m grading 20.77g/t Au (Snakebite) and 20.26m grading 3.08g/t Au (Kenge) (see Company press release dated January 8, 2007). Helio controls a 27km long section of the known gold belt: the Snakebite and Kenge targets are located along the westernmost 4km of the belt.
Of the seven holes reported here, the most significant intercepts include:
• 1.74m @ 16.0g/t Au in hole SZD-06 at Snakebite
• 7.5m @ 4.01g/t Au in hole SZD-09 at Kenge
• 20.47m @ 2.99g/t Au in hole SZD-11 at Kenge
Table of significant drill intercepts.
Holes SZD-05 and -06 were drilled on the Snakebite target. The Snakebite target is located along the Saza Shear Zone (SSZ) which hosted the New Saza Mine 1 and 2 shafts, the Gap Mine and the Kwaheri Mine, all colonial-era operations. Saza 2 shaft is located 1.7km away on strike to the WSW from Snakebite.
SZD-06 was drilled towards a NW dipping structure and intercepted a high-grade zone of 1.74m grading 16g/t Au within a broader zone of mineralisation (3.8g/t Au over 7.9m). This intercept is approximately 250m on-strike to the NE of hole SZR-15 which returned 8m grading 20.77g/t Au (Company press release dated November 6, 2006).
Hole SZD-05 was collared 100m NW of, and drilled towards, hole -06. The hole was planned to test for mineralised structures in the hanging-wall of the main SSZ target at Snakebite. It intercepted a number of low-grade mineralized intercepts, the best of which was 1.37m grading 1.04g/t from 77.65m.
To date three drill holes have tested the main gold bearing structure at Snakebite over a 400m strike length. Their results are shown on the attached plan map. Mineralisation is open to the west and east and there is no drilling between the Snakebite and the Cheche (which hosts the Saza Mine No. 2 Shaft) targets.
At the Kenge target, drilling has focussed on testing the lateral- and down-dip continuity of the mineralised zone intersected in hole SZD-02 (20.26m grading 3.08g/t Au: Company press release dated January 8, 2007).
The Kenge Shear Zone (KSZ) hosts the colonial-era Razorback mine. Mineralisation is associated with a 2km long NW-SE striking structure, which dips moderately to steeply SE.
Holes -02, -07 and -08 were all drilled on the same section line, perpendicular to the strike of the KSZ. Drilling on this section (29700E) demonstrates the down-dip continuity of the mineralised zone over a 200 metres distance and is open to depth, as shown on the attached section.
Hole SZD-11 was drilled 50m away on-strike to the SE of SZD-02, and intercepted 20.47m grading 2.99g/t Au. Hole SZD-09 was drilled 50m away on-strike to the NW of SZD-02 and intercepted 7.5m grading 4.01g/t Au. These results confirm the lateral continuity of mineralisation along a 100m strike section of the Kenge Structure which, based on surface mapping, is continuous over 2 kilometres. Sections for these holes are presented below.
Hole SZD-04 was collared in the footwall of the KSZ, to the north of the mapped structure, and was drilled to test for parallel zones to the main structure. The hole failed to intersect any mineralisation.
Assay results from the mineralised zone in hole SZD-10 which was drilled on section from SZD-11 have not yet been received.
A plan map showing collar locations and results to date, together with a long-section and cross-sections of the drill intercepts at Kenge, are shown below and on the Company's website at www.helioresource.com.
Drilling is ongoing, and is currently focused on outlining the resource potential over the 2km strike length of the Kenge target.
Chris MacKenzie, M.Sc., C.Geol., Helio's COO and a Qualified Person as designated by NI 43-101, supervised the sampling and quality assurance / quality control programmes at Saza, and has reviewed the contents of this news release. Drill holes are oriented at -60º and are drilled perpendicular to the mapped structural trends. Selected samples were prepared from average core lengths varying between 1 and 3m. Core was halved with a core saw, one half was submitted to laboratory and the other half retained. QA/QC includes the use of blanks and standards (1 every 18 samples) and duplicates (1 every 29 samples). Samples were assayed at the SGS Laboratory in Mwanza, Tanzania by 50g gold fire assay. As well as the Company's internal QA/QC programme, SGS also applied their own internal QA/QC programme, consisting of insertion of standards and duplicates. Mineralised intercepts are reported as drilled widths. Weighted average intercepts are calculated between the uppermost and lowermost samples exceeding a 0.5g/t cut-off within the confines of main mineralised zone.
Helio Resource Corp., based in Windhoek, Namibia, is one of Southern Africa's leading exploration companies, specializing in project generation. Helio is actively exploring 18 prospective gold, base-metal and diamond properties in Namibia, Botswana, Mozambique and Tanzania. As part of its strategic approach to project development, Helio has worked in partnership with firms such as Teck Cominco, Boulder Mining, Indicator Minerals, and Yale Resources to advance a number of its projects. Helio is focusing on progressing the SMP project in Tanzania.
For additional information, please contact Richard Williams or Irene Dorsman at (604) 668 8363 or by e-mail to email@example.com or firstname.lastname@example.org.
ON BEHALF OF THE BOARD OF DIRECTORS
“Richard D. Williams” “Chris MacKenzie”
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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