|Mon Oct 22, 2007|
New Gold Zone Discovered on the SMP Gold Project, Tanzania.
Helio Resource Corp ("Helio" or the "Company") (TSX-V: HRC) is pleased to announce that reconnaissance reverse circulation (RC) drilling at the Company's SMP Gold Project in Tanzania has confirmed the presence of bedrock gold mineralization between the colonial-era Saza 2 Shaft gold mine (Cheche target) and the Snakebite target, indicating the potential for mineralisation over a 2,300m strike length (see map below).
Two north-south fences of RC holes, 300m apart, were drilled across the ENE-trending Saza Shear Zone. Both the western and eastern fences intersected multiple zones of mineralization, the most notable being 20m grading 1.14g/t gold from 30m depth in hole SZR34 located on the western fence (Cheche E), and 2m grading 4.36g/t gold from 36m depth in hole SZR43 on the eastern fence (Snakebite W).
The Company is very encouraged by the new results, which are similar to the initial drill results received from the Kenge target (see Company news release dated September 6, 2006 and subsequent releases dated May 23, 2007, September 17, 2007, and October 15, 2007), which now shows the potential to host a significant open pit resource.
The Cheche target contains the old Saza 2 shaft mine. The Snakebite target, located over 2km away on-strike from Cheche, has been drill tested by Helio confirming the presence of mineralisation over 450m+ of strike length (open in both directions), with intercepts including 8m grading 20.8g/t Au, 2.39m grading 9.6g/t Au and 1.74m grading 16.0g/t Au (see Company press release dated September 17, 2007).
These are the first results from a reconnaissance RC drill programme that has tested ten different targets along a 25km strike length of the Saza Shear Zone (see map below).
Chris MacKenzie, M.Sc., C.Geol., Helio's COO and a Qualified Person as designated by NI 43-101, supervises the sampling and quality assurance / quality control programmes at Saza, and has reviewed the contents of this news release.
The 18 RC drill holes (1,831 m) reported herein were oriented at -50º and drilled N or S on north-south sections across the strike of the main structure. Composite 2m samples were riffle split and submitted to laboratory (with a duplicate split retained). QA/QC includes the use of blanks and standards (1 every 16 samples) and duplicates (1 every 25 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; more data are required to ascertain true widths. Except when otherwise stated above, weighted average intercepts are calculated between the uppermost and lowermost samples within the main mineralised zone over a 0.5g/t cut-off and may include some internal waste.
Helio Resource Corp. is a dynamic, technically-driven mineral exploration company, focused on high-quality project generation in southern Africa. Helio is actively exploring 26 prospective gold, base-metal and diamond properties in Namibia, Botswana, Mozambique and Tanzania. The main focus for the Company is the development of the SMP gold project in Tanzania. As part of its strategic approach to project development, Helio has optioned 9 of its Namibian licences to Desert Minerals (UK) Ltd. Helio continues to pursue joint venture partners for its projects in Namibia, Botswana and Mozambique and to assess new opportunities in southern Africa.
For additional information, please contact Richard Williams or Irene Dorsman at +1 604 638 8007 or by e-mail to firstname.lastname@example.org or email@example.com.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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