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 Mon Jun 1, 2009
RC Drilling Discovers Two New Gold Zones at the Porcupine Target, SMP Gold Project, Lupa Goldfields, Tanzania

 
Up to 72m+ @ 0.6g/t Au intersected


June 1, 2009

Helio Resource Corp. ("Helio" or the "Company") (TSX-V: HRC) is pleased to announce the results of the late 2008 programme of RC drilling completed on the Porcupine Target (see Company press release dated May 12, 2009).

Highlights

  • Two north south fences of RC drill holes (14 holes: 1,238m) were completed;

  • The two drill fences - A and B - were located 200m and 600m west, respectively, of the Porcupine Target Main Zone (see plan map attached);

  • Fence Line A intersected three zones of gold mineralisation, including:

    • Two new zones of gold mineralisation, located approximately 150m and 250m respectively to the north of the Main zone;

      • Drilling of the northernmost zone (the "Quill Zone") intersected 72m @ 0.6g/t Au, whilst the second new gold zone reported 46m @ 0.4g/t Au, (estimated true widths of 61m+ and 41m, respectively - see attached drill sections);

    • the western extension of the Main Zone (60m @ 0.5g/t Au - true width of 15m+, drilled sub-parallel to the structure);

  • Fence Line B intersected one zone of gold mineralisation (54m @ 0.3g/t Au - estimated true width of 45m), which is interpreted to be the westward extension of the Quill Zone (see attached section and plan map).
The RC drilling results confirm that thick zones of gold mineralisation occur over an 850m+ strike length at Porcupine, AND that mineralisation is still open in both directions along strike and at depth. Furthermore, the discovery of these new zones clearly continues to demonstrate the excellent exploration potential of the SMP Gold Project to host a significant resource. To date, systematic drilling by the Company has only tested less than 5% of the prospective structures within the project area.

The Main Zone of Porcupine comprises a 450m+ strike length of gold mineralisation which has been diamond-drill tested to 260m depth, and intercepts up to 52m grading 3.3g/t Au have been reported (see Company press release dated July 21, 2008).

The initial assessment of the RC drill data indicates that these newly discovered zones of mineralisation share the same geology, style of mineralisation and geometry as the main zone at Porcupine. For further information please refer to the two sections and plan map attached to this release, and posted on the Company's website at www.helioresource.com.

Helio is very encouraged by the new discovery of these zones of thick mineralisation in close proximity to the main Porcupine Target, where resource definition drilling is currently ongoing. These results confirm the potential to identify numerous other zones and shoots of mineralisation within the 4.5km x 0.75km Porcupine-Gap target area (Company press release dated May 14, 2009). Diamond drill testing of the Quill Zone is planned.

Further reconnaissance RC drilling is planned to the west and east of the current extents of the Porcupine target and is expected to commence within the next month.

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 35km strike length of the Saza Shear Zone. The project covers the New Saza Gold Mine, which was the second largest gold producer, behind the Geita Mine, in pre-Independence era Tanzania.

Since June 2006, the Company has drill-tested eleven targets, nine of which are hosted along the Saza Shear Zone. All eleven targets have intersected bedrock-hosted gold mineralisation, the most advanced being the Kenge and Porcupine Targets (see the Corporate Presentation on the Home Page of the Company's website at www.helioresource.com). Drilling at Kenge has returned up to 22.0m grading 6.9g/t gold in the Main Zone and 48.7m grading 2.1g/t Au from the Mbenge Zone. The best mineralised intercept to date at the SMP was drilled at Porcupine (52.2m grading 3.3g/t Au). The company is well-financed and is currently drilling at the Porcupine Target.

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. Drill holes were oriented at -50º along North-South oriented fence-lines. Intercepts are reported as drilled widths. RC samples were riffle-split and composited into 2m samples. Samples were submitted to the lab with internal QA/QC checks including the use of blanks and standards (ave. 1 every 17 samples) and duplicates (ave. 1 every 25 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 0.1g/t Au cut-off and may include some internal waste (in the case of GPR16 and GPR18, both holes include over 10m of internal dilution from barren post-mineralisation dykes). A low cut-off is applied to reconnaissance RC drilling since this method delineates the broad mineralised envelopes which are then targeted for diamond drill testing. The highest individual assay in GPR18 was 2m grading 5.6g/t Au from 2m.

For additional information, please contact Richard Williams +1 604 638 8005 or by e-mail to .

ON BEHALF OF THE BOARD OF DIRECTORS

"Richard D. Williams"   "Chris MacKenzie"
Richard D. Williams, P.Geo   Christopher J. MacKenzie, C.Geol.
CEO   COO

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.


 
 

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