|Wed Jul 2, 2008|
Helio Reports Further Drill Results from the Kenge Target, SMP Gold Project, Tanzania:
|Includes 27.4m grading 2.2g/t Au and 11.4m grading 2.3g/t Au|
Third drill rig added to the programme
Helio Resource Corp. ("Helio" or the "Company") (TSX-V: HRC) is pleased to report further diamond drill results from the Kenge target. These form part of the ongoing 20,000m+ drill programme at the SMP Gold Project, SW Tanzania. In addition a third diamond drill rig has been added to the current drill programme.
Results have been received for 19 holes drilled at the Main, SW and Mbenge zones of the Kenge target (Note: the Mbenge zone has been incorporated into the Kenge Target). All holes except SZD-87 intersected the targeted gold mineralisation. Intersections for holes SZD-89 and SZD-92 are incomplete due to significant core loss within the mineralised zone, and these holes will be re-drilled. Significant intercepts include:
These drill results, together with recent structural mapping by consultants, has helped to define a new structural model for the Kenge target, which covers the NW, Main, SE, Mbenge and Snakebite zones. The new structural model has highlighted a number of areas for priority drilling in order to add to the resource potential of the Kenge target: including the definition of a robust higher-grade shoot in the Main Zone which remains open to depth and along strike to the SE. This will be the focus for the next phase of drilling on Kenge.
Drilling is ongoing at the Kenge target and a resource statement should be published before the end of 2008. Drilling is also ongoing at the Porcupine target.
ABOUT THE SMP GOLD PROJECT
Helio, through its 100% owned subsidiary BAFEX Tanzania Ltd., 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 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 late 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 22.m grading 6.9g/t gold and 39.2m @ 2.6g/t Au (Company press releases dated May 23, 2007 and March 25, 2008). Other significant intercepts include 42.3m @ 4.0g/t Au from the Porcupine target (Company press release dated June 23, 2008).
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 either -48º and -70º and were drilled perpendicular towards the main structural trend. Unless otherwise stated intercepts are reported as drilled widths; true widths are thought to be between 80 and 95% of drilled 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. Weighted average grades are calculated between the upper- 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. 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.
HELIO RESOURCE CORP
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