News
Show printable version of 'Drilling Starts at the Porcupine Target, SMP Gold ...' in a New Window
News Releases
 Wed Apr 30, 2008
Drilling Starts at the Porcupine Target, SMP Gold Project, Tanzania; Two Drill Rigs Working - Drilling Update

 

PORCUPINE TARGET

Helio Resource Corp. ("Helio" or the "Company") (TSX-V: HRC) is pleased to report that a second diamond drill rig has commenced drilling at the Company's SMP Gold Project, SW Tanzania. The second drill rig will be working at the Porcupine Target, where the only drill hole to date intersected 42m grading 2.05g/t gold (see Company news release dated November 19, 2007).

The Porcupine Target, discovered in June 2007, is located along the Saza Shear Zone, approximately 2km west of the colonial-era Gap Mine. The target outcrops intermittently over a 1km distance from west to east, and hosts multiple quartz veins (individual quartz veins up to 10m wide), within a 40m wide mineralised shear zone.

Eleven drill holes, for a total of 1,840m, have been planned initially, but this is expected to expand significantly as drilling progresses.

DRILLING UPDATE

Diamond drill rig #1 has now completed an additional 13 drill holes at the Kenge Main Zone, 4 drill holes at the Kenge SE Zone, and 4 drill holes at the Mbenge Target. The Company expects to start receiving results from this drilling within the next few weeks.

The NW-trending Kenge Target comprises three zones (NW, Main, SE), which have an aggregate strike length of approximately 1.4km. Drilling to date has recorded up to 21.95m grading 6.9g/t Au (Company press release dated May 23, 2007). To date, drilling has confirmed that gold mineralization at the Kenge Target extends from surface to a depth of at least 200m, and is open to depth beneath 200m where the thickest mineralised intercept was recorded (39.3m grading 1.33g/t Au [including 18.6m grading 2.2g/t Au] see Company press release dated September 18, 2007).

Drilling is ongoing at the Mbenge target in order to expand the resource potential of this area, where drilling has intersected up to 39.17m grading 2.56g/t Au (Company press release dated March 25, 2008). The Company is looking to source more drill rigs to help advance its exploration activities.

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 and 1956, producing approximately 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. Reported widths stated herein are drilled widths and are thought to be between 80 and 95% of true widths.

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 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.
 
 

You can return to the Top of this page