|Mon Jul 13, 2009|
First 2009 Drill Results from the Porcupine Target, SMP Gold Project, Tanzania
Helio Resource Corp. ("Helio" or the "Company") (TSX-V: HRC) is pleased to announce the first results from the 2009 diamond drill programme at the Porcupine Target.
Three diamond drill holes were completed, and the results demonstrate that gold mineralisation remains open along strike and to depth. Follow-up diamond drilling will commence in August. The results are tabulated below.
An updated long section and cross section are shown below and at www.helioresource.com.
Of the 44 diamond drill holes completed at Porcupine, 37 have been drilled into the Porcupine Main Zone. All holes have intersected gold mineralisation, reflecting the strong continuity of mineralisation within the 450m strike length tested to date. Hole GPD43 will be extended at a later date.
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).
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 perpendicular to the main mineralised zone. Intercepts are reported as drilled widths, true width is estimated to be 80-90% of reported width. Samples were cut with a rock saw, and sampled at 1m intervals, with the counterpart half-core being retained for reference. 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 0.5g/t Au cut-off and may include some internal waste.
For additional information, please contact Richard Williams +1 604 638 8005 or by e-mail to .
ON BEHALF OF THE BOARD OF DIRECTORS
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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