|Mon Nov 19, 2007|
First Drill Hole From the Porcupine Target on the SMP Gold Project, Tanzania Intersects 42m Grading 2.05g/t AU
Helio Resource Corp. (the "Company") (TSX-V: HRC) is pleased to present results from the first-pass reconnaissance drill testing of five very widely spaced targets, namely Porcupine, Gap, Reefski, Panya and Kwaheri, from the eastern portion of the SMP Gold Project in Tanzania. A number of new zones of bedrock gold mineralisation were discovered, the most notable being the Porcupine Target, which is the most robust mineralised zone on the SMP gold project intersected to date by the company's reconnaissance RC drilling programme.
Highlights of the RC drill results include:
A total of nine RC holes (667m) were completed on the Gap and Kwaheri licences of the SMP Project, which are contiguous with, and northeast of, the Saza licence where Helio is conducting an extensive drilling programme on the Kenge target (see company press releases dated May 23, September 18, October 15, November 6 and November 13, 2007). The drill results are tabulated below. A map of the location of these targets within the SMP project area is shown below and on the Company's website.
The Company is very encouraged by the results, which are by far the best reconnaissance drill results yet received from the SMP gold project. The Porcupine Target, in particular, offers tremendous potential to develop a significant open-pittable resource.
One RC hole (GPR-04) was drilled at the Porcupine Target, which is located along the Saza Shear Zone ("SSZ") in an area where a number of structures intersect. This hole intersected the thickest intercept of any RC hole from the SMP to date -- 42m grading 2.05g/t Au. This hole was drilled into a SE dipping ENE-WSW striking shear zone. The mineralised zone is up to 40m wide and outcrops for more than 1km of strike length. A section of the drill hole is shown below and on the Company's website.
The zone appears to have a true width of over 35m. Mineralisation is open along strike in both directions and to depth. Porcupine is located over 13 kilometres ENE of the Company's main Kenge target.
The colonial-era Gap mine is located approximately two kilometers along strike to the ENE of Porcupine, again located on the SSZ. A single hole (GPR03) was drilled into the main zone, and intersected 8m grading 1.18g/t Au. Mineralisation is open along strike in both directions and to depth.
Two scissor holes, GPR01 and GPR02, were drilled 400m to the NE of GPR03, and were designed to test a NW-SE trending structure. Both RC drillholes intersected mineralisation, however no values over 0.5g/t Au per 2m sample were present.
Two holes, GPR05 and GPR06, tested the Reefski Target, located 2,300m ENE along the SSZ from the Gap mine. The two holes, 280m apart, were drilled southwards into the N-dipping shear zone. Both holes intersected gold mineralisation, the best being 8m grading 1.15g/t Au from the easternmost hole. Mineralisation is open along strike in both directions and to depth.
Two scissor holes (KWR01 and KWR02) were drilled under artisanal workings at the Kwaheri North target, located approximately 700m NE of the colonial-era Kwaheri Mine. A number of NNE-SSW striking auriferous zones were intercepted however no values over 0.5g/t Au per 2m sample were present.
A single hole was drilled at the Panya target (KWR03) which is 1.8km NW of Kwaheri North and 2.8km NE of Reefski. Panya is located on a NW-SE trending structure and consists of wide quartz veining and sheared units. The hole intercepted 12m grading 1.02g/t Au. Mineralisation is open along strike in both directions and to depth.
Table of Drill Results
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 the SMP Programme, and has reviewed the contents of this news release. Drill holes were oriented at -50º and drilled perpendicular towards the main structural trend. 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 15 samples) and duplicates (1 every 24 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, which range from 70% to 90% of true widths. Except when otherwise stated 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 27 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 other 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 or .
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Plan Map of Drill Targets in Relation to the Kenge Target
Porcupine Drill Section
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