|Thu Jan 15, 2009|
Helio Reports Drill Results From The Kenge Target NW Zone, SMP Gold Project, Tanzania
8.8m @ 3.1g/t Au
14.8m @ 2.3g/t Au
13.7m @ 2.1g/t Au
16.6m @ 1.9g/t Au
12.3m @ 1.53g/t Au
12.1m @ 1.43g/t Au
Kenge Target Drilling Update
Helio Resource Corp. ("Helio" or the "Company") (TSX-V: HRC) is pleased to report the latest drill results from twenty-six diamond drill holes from the NW Zone of the Kenge Target at the SMP Gold Project, Lupa Goldfields, SW Tanzania. The results confirm management's view that Kenge has the potential to host a significant open-pittable gold deposit.
A table of the drill results is presented below, together with a revised long section of the Kenge NW Zone. The results indicate the presence of higher grade material in the vicinity of the old Razorback pit.
2008 Diamond Drilling Programme Summary
As mentioned previously (Company Press Release November 10, 2008) all of the planned 2008 diamond drilling was completed.
Results from 40 holes from the Kenge Target, five holes at the Konokono Target and 21 holes from the Porcupine Target are still pending. All outstanding samples from these holes are currently being processed in the lab and will be reported once results are received.
ABOUT THE SMP GOLD PROJECT
Helio, through its 100% owned subsidiary BAFEX Tanzania Ltd., can earn a 100% interest in five contiguous licences, which cover a 34km strike length of the Saza Shear Zone (see news releases dated December 19, 2005, September 11, 2006, and October 16, 2008). The project covers the New Saza Gold Mine, which operated between 1939 -- 1956, producing approximately 270,000 ounces of gold at an average grade of 7.5g/t Au.
Since June 2006, the Company has drill-tested eleven targets, nine of which are hosted by the Saza Shear Zone. All eleven targets have intersected bedrock-hosted gold mineralisation, the most advanced being the Kenge Target, which has returned up to 22.0m grading 6.9g/t gold in the Main Zone (Company press release dated May 23, 2007). The thickest mineralised intercept at Kenge is from the Mbenge Zone (48.7m @ 2.1g/t Au - Company press release dated September 8, 2008). The thickest mineralised intercept to date at the SMP was drilled at the Porcupine target (52.2m grading 3.3g/t Au -- Company press release dated July 21, 2008).
Recently, the Company announced excellent metallurgical results from the SMP project, where recoveries of up to 96% were achieved by conventional processes at the Kenge target (Company press release August 11, 2008).
Chris MacKenzie, M.Sc., C.Geol., Helio's COO and a Qualified Person as designated by NI 43-101, supervises the exploration at the SMP project, including the sampling and quality assurance / quality control programmes, and has reviewed the contents of this news release. Unless otherwise stated all drill holes were oriented at -48º or -60º and were drilled perpendicular towards the main structural trend. Intercepts are reported as drilled widths, and estimated true widths vary from 65-98%+ of drilled width. Core was halved with a rock saw and sample lengths between 0.3m and 2.0m within the mineralised zone were submitted to the lab (with the duplicate half being retained). QA/QC includes the use of blanks and standards (ave. 1 every 15 samples) and duplicates (ave. 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. Unless otherwise stated weighted average intercepts are calculated between the uppermost and lowermost samples within the main mineralised zone using a 0.5g/t cut-off and may include some internal waste.
Helio's main focus 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. and continues to pursue joint venture partners for its other projects in Namibia.
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.
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