|Mon Apr 14, 2008|
Helio Reports Further Drill Results from the Kenge Target - SMP Gold Project, Tanzania
Helio Resource Corp. ("Helio" or the "Company") (TSX-V: HRC) is pleased to report the first drill results for 2008 from the Kenge target; part of the ongoing 20,000m drill programme at the SMP Gold Project, SW Tanzania (Company press release dated March 25, 2008). These results are from the first five diamond drill (DD) holes from the Kenge Main Zone.
The best hole, SZD-081, intersected 12.19m grading 5.79g/t Au from 61.84m. Other intercepts include SZD-079 (9.8m grading 2.73g/t Au from 152.96m) and SZD-080 (10.92m grading 3.04g/t Au from 170.62m).
SZD-081 was collared 40m from, and along strike to the NW of, holes SZD-069 and SZD-070, which intercepted 19.65m grading 3.02g/t Au and 24.29m grading 2.8g/t Au respectively (Company press release dated January 31, 2008).
SZD-079 and SZD-080 were collared 50m from SZD-069 and SZD-070 (perpendicular to strike). Mineralisation is still open to depth. The current drill programme is designed to delineate the open pit resource potential at the Kenge target.
An updated list of drill hole intercepts, including hole location data have been posted on the company's web site at www.helioresource.com.
Infill drilling is ongoing on the Kenge target with the intention of outlining a resource in Q3, 2008.
A second drill rig will be mobilised to the Porcupine target shortly, to test the resource potential at a target where drilling has reported up to 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. 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 14 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 intersected bedrock-hosted 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). The thickest well-mineralised intercept to date, 39.17m @ 2.56g/t Au was drilled at the Mbenge target (Company press release dated March 25, 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 or -70º and were drilled perpendicular towards the main structural trend. Intercepts are reported as drilled widths, true widths are thought to be between 80 and 95% of reported width. Core was halved with a rock saw and sample lengths between 0.3m and 1.1m within the mineralised zone 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.
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 email@example.com or firstname.lastname@example.org.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
View News Release in PDF Format:
You can return to the Top of this page