|Tue Mar 25, 2008|
Helio Reports The First Diamond Drilling Results From The Mbenge Target - SMP Gold Project, Tanzania
Helio Resource Corp. (the "Company") (TSX-V: HRC) is very pleased to report the results from the first-pass diamond drill (DD) programme at the Mbenge target (see Company press release dated 31st January 2008), SMP Gold Project, SW Tanzania.
A total of five holes (for 671m) were drilled into the Mbenge target, representing the first part of a 20,000m drill programme planned for the SMP Gold Project for 2008. Mbenge is parallel to and located only 400 metres NE of the Kenge SE Zone, where results include 21.53m @ 3.62g/t Au in hole SZD-056 (Company press release dated November 13, 2007).
The best hole, SZD-076, intersected 39.17m grading 2.56g/t Au. With an inferred true width of 36.3m, this is by far the thickest intersection over 2.5g/t Au drilled to date on the SMP project.
The drilling confirms the presence of a thick zone of E-W striking gold mineralisation close to surface. The zone dips southwards at approximately -60 degrees and the five holes were drilled at -48 degrees northwards. Holes were drilled on an offset 50 x 50m grid testing 100m of strike length of the Mbenge structure. All of the holes intersected mineralisation as shown in the table below, and mineralisation is open along strike in both directions and to depth.
A plan map and long section of the drilling results are shown below and are posted on the company's web site at www.helioresource.com.
The zone thickens westwards and no drilling has been conducted to the west of SZD-076. Hole SZD-074 was twinned with the discovery hole at the Mbenge Far West target; Reverse Circulation (RC) hole SZR-052, which intersected 24m grading 1.14g/t Au from a downhole depth of 24m (Company press release dated October 29, 2007). The intercept in the DD hole has a 45% higher gold content than the RC hole in terms of Au x metre values.
The Mbenge target is a NW-SE to E-W striking zone of geochemical and geophysical anomalies which can be traced on surface and under cover for approximately 2km. The zone is parallel to and shares geological similarities with the Kenge zone, where the Company is currently conducting infill drilling to define a resource. Following completion of the Mbenge DD programme, the drill rig was moved back to the Kenge target to continue infill drilling. More results from Kenge are expected in the coming weeks.
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 approx. 270,000 ounces of gold at an average grade of 7.5g/t Au. It was the second largest colonial mine in Tanzania after the Geita Mine, which is today operated by Anglogold Ashanti and hosts a deposit containing over 23 million ounces of gold (not NI43-101 compliant, see http://www.anglogold.com/NR/rdonlyres/AD7FE748-9273-4740-B531-C90B2AF9C46F/0/Geita.pdf).
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 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 -48º northwards and were drilled perpendicular towards the main structural trend. Core was halved with a rock saw and sample lengths between 0.3m and 1.1m within the mineralised zone (averaging 0.6m) were submitted to the lab (with the duplicate half being 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. 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. The average grade of the 174 samples within the mineralised zones was 2.47 g/t Au with a standard deviation of 4.34.
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 17 of its Namibian licences to Desert Minerals (UK) Ltd. (nine licences) and TransAfrican Minerals Limited (eight licences). Helio continues to pursue joint venture partners for its other projects in Namibia, Botswana and Mozambique.
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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Mbenge Diamond Drilling Long Section
SMP Western Drill Plan
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