|Mon Mar 2, 2009|
Helio Intersects Widest Zones of Mineralisation to date from the Porcupine Target, SMP Gold Project, Tanzania
ALL RESULTS FROM 2008 DIAMOND DRILL PROGRAMME AT PORCUPINE NOW RECEIVED
61.0m @ 0.9g/t Au
56.0m @ 1.1g/t Au (incl. 35.0m @ 1.6g/t Au)
53.0m @ 0.8g/t Au
49.0m @ 0.9g/t Au
47.0m @ 0.9g/t Au
40.0m @ 1.8g/t Au
38.0m @ 1.2g/t Au
25.0m @ 1.1g/t Au
24.0m @ 1.1g/t Au
Porcupine Target Drilling Update
Helio Resource Corp. ("Helio" or the "Company") (TSX-V: HRC) is pleased to report the final drill results from the 2008 diamond drilling programme at the Porcupine Target at the SMP Gold Project, Lupa Goldfields, SW Tanzania. The results come from ten diamond drill holes (GPD 32 - GPD 41).
The results confirm management's view that Porcupine has the potential to host a significant open-pittable gold resource, in addition to the potential significant gold resource the company is testing at the Kenge Target (Company Press Release dated January 15, 2009).
Management is very pleased with these results, which confirm that the SMP Gold Project has the potential to host areas of very wide open-pittable mineralisation.
The Company plans to restart drilling at Porcupine in May, once the rainy season is over. The next phase of drilling is planned to test the east and west strike extensions of the Porcupine Target, especially to the east towards the historic Gap Mine, located 1.8km to the NE of current drilling coverage. Geophysical data between Porcupine and Gap and suggests that the mineralisation could be continuous over the entire 1.8km distance.
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. 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 best 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). A plan map of the project area, showing the respective locations of all of the targets generated to date is attached.
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 75-98%+ of drilled width. Core was halved with a rock saw and 1m sample lengths 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 at +1 604 638 8005 or by e-mail to .
ON BEHALF OF THE BOARD OF DIRECTORS
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Table of All Drill Intercepts - Porcupine Target
(new results shown in Bold)
View News Release in PDF:
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