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 Mon Oct 29, 2007
Rc Drilling Discovers Another New Gold Zone At 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 past-producing SMP Gold Project in Tanzania has discovered two parallel zones of bedrock gold mineralization on the Mbenge target, located only 350m east of the Kenge target.

Drill results from Mbenge indicate the potential for mineralization over a combined strike length of at least 1,000m. Mineralization is open along strike to the NW and SE. IP geophysical surveys and geological mapping indicates that the mineralization is associated with 2km-long Kenge-parallel structures. (see map posted below).

Three north-south fences of RC holes were drilled across the ESE-trending Mbenge Shear Zone. All three drill fences intersected multiple zones of gold mineralization, the most notable being 24m grading 1.14g/t gold from 24m depth in hole SZR52, located on the western fence (Mbenge Far W).

The Company is very encouraged by these results, which are comparable to the initial reconnaissance 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). The results also confirm the Company's theory that a number of well-mineralized Kenge-parallel structures exist within the SMP project area. Similar Kenge-parallel structures have recently been drilled tested at the Gap and Panya targets, respectively 14km and 19km ENE of Kenge (assays pending).

In addition to the mineralization on the Mbenge Far W fence, two separate mineralized zones were discovered on each of the central (Mbenge W) and eastern (Mbenge E) fences, located 125m and 575m east of Mbenge Far W respectively.

Mbenge W
  • northern zone in SZR61 with interceptions of 2m grading 2.82g/t Au from 20m, 6m grading 0.65g/t Au from 32m, 4m grading 0.56g/t Au from 48m and 2m grading 3.23m from 90m, and:
  • southern zone intercept of 6m grading 1.08g/t gold from 26m depth in hole SZR67.
Mbenge E
  • northern zone - 4m grading 0.71g/t Au from 8m and 4m grading 0.41g/t Au from 34m in hole SZR73, and:
  • southern zone - 4m grading 0.38g/t Au from 10m and 20m grading 0.23g/t Au from 40m in hole SZR71.
These are the second set of results from a reconnaissance RC drill programme that has tested ten different targets along a 25km strike length of the Saza Shear Zone (see Company press release dated October 22, 2007 and the map posted 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 26 RC drill holes (2,605 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. Weighted average intercepts are calculated between the uppermost and lowermost samples within the main mineralised zone over a 0.5g/t cut-off (a 0.15g/t Au cut-off was used for holes reported from the Mbenge East fence) 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 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 richard@helioresource.com or irene@helioresource.com.

ON BEHALF OF THE BOARD OF DIRECTORS

"Richard D. Williams"
Richard D. Williams, P.Geo
CEO
"Chris MacKenzie"
Christopher J. MacKenzie, C.Geol.
COO


The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.



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