|Thu Jan 31, 2008|
Helio Reports the Remainder of 2007 Diamond and RC Drilling Results - SMP Gold Project, Tanzania
Helio Resource Corp. (the "Company") (TSX-V: HRC) is pleased to report the balance of outstanding results from the 2007 diamond and RC drill programmes at the Company's SMP Gold Project, SW Tanzania.
The SMP Gold Project covers ~27km of the strike length of the Saza Shear Zone, the main gold-bearing structure in the Lupa Goldfields.
The drilling included two areas, namely the Kenge Target and the Kipanga Target. Highlights from this batch of drill results include:
The latest drill results from Kenge provide further confirmation of the presence of three mineralised centres along the 2km long Kenge Shear Zone, namely the NW Zone, the Main Zone, and the SE Zone. The three mineralised zones have an aggregate strike length of ~ 1,350m. It is possible that the Main Zone and the NW Zone are contiguous -- more drilling is planned to confirm this. The deepest drill hole at the Kenge Target intersected the widest zone of mineralisation recorded to date (39m @1.3g/t Au in SZD40) and mineralisation at all three zones is open to depth.
Thirteen holes from the Kenge Target are reported herein. A table of all of the significant drill intercepts to date from the whole of the SMP has been posted on the company's web site at www.helioresource.com. Updated Long Sections are also posted below.
The Kipanga target is a major IP anomaly and is located on the Saza Shear Zone, between the Mbenge and Konokono targets (see news releases dated October 29, 2007 and November 6, 2006, respectively).
At Kipanga, RC hole SZR82 intersected 8m grading 1.44g/t gold from 48m, and a second mineralised zone (18m grading 0.42g/t Au from 8m). The nearest drill hole along strike is 1.4km to the east at Konokono: SZR25, which intersected 18m grading 2.44g/t gold from 18m and 2m grading 11.4g/t gold from 74m. The Mbenge target, where hole SZR52 intersected 24m grading 1.14g/t Au, is located 1.9km west of Kipanga (Company news release dated October 29, 2007). Please refer to the SMP Plan map posted below.
DRILLING UPDATE - 20,000m PLANNED FOR 2008
The Company has two diamond drill rigs on site at the SMP Gold Project at present. One rig is currently drilling at the Mbenge Target, which is parallel to, and only 450m NE of the Kenge Target SE Zone. Five holes are planned at the Mbenge Target, following up drill-hole SZR52 (24m grading 1.14g/t Au). This type of intercept compares very favourably with the initial RC drill results from the Kenge Target (Company press release dated September 6, 2006). On completion of the short drill programme at Mbenge, the drill rig will be moved to the Kenge Target to continue outlining the resource potential there.
The second drill is expected to be operational within the next two weeks and will initially focus on working towards a resource calculation at the Kenge Target.
Once all-weather access has been established, one of the drill rigs will be re-located to the Porcupine Target. The Porcupine Target is a brand new discovery, which outcrops over a 1,000m strike length, and has only one drill hole completed to date, which intersected 42m grading 2.05g/t Au (Company press release dated November 19, 2007).
ABOUT THE SMP GOLD PROJECT
Helio can earn a 100% interest in four contiguous licences, which cover a 27km strike length of the Saza Shear Zone (see news releases dated December 19, 2005 and September 11, 2006). The project area covers the eastern part of the New Saza Gold Mine, which operated between 1939 -- 1956, producing ~270,000 ounces of gold at an average grade of 7.5g/t Au.
Since June 2006, the Company has drill tested thirteen targets, eleven of which are hosted by the Saza Shear Zone. All thirteen targets have returned positive gold mineralisation, the most advanced being the Kenge Target, which has returned up to 21.95m grading 6.92g/t gold (Company press release dated May 23, 2007).
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 between -48º and -70º and drilled perpendicular towards the main structural trend. Core was halved with a rock saw and samples averaging 1.2 - 1.5m were submitted to the lab (with a duplicate half being retained). RC samples were riffle-split into 2m composites and a duplicate sample was 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 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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