|Wed Oct 14, 2009|
Diamond Drilling Update - SMP Gold Project Tanzania
October 14, 2009
Helio Resource Corp. ("Helio" or the "Company") (TSX-V: HRC) is pleased to report an update from the ongoing diamond drill programme at the SMP Gold Project, SW Tanzania.
Drill results are presented from the Porcupine Target and from the reconnaissance drill programme recently completed at the Dubwana and Chui targets.
Porcupine Target - Ongoing Diamond Drilling
Diamond drilling is ongoing at the 1km-long Porcupine target where recent drilling intersected 42m @ 2.3g/t Au and 45m @ 2.1g/t Au (Company press release dated July 13, 2009). Six holes are reported herein; three (GPD45, 46 and 47) were drilled at the newly discovered Quill zone (Company press release date June 1, 2009), and three holes (GDP48, 49, and 51) from the main zone at Porcupine. Significant intersections are presented in the table below.
The Company is very encouraged by the high-grade intersections from the main zone at Porcupine in holes GPD49 (28m @ 5.1g/t Au from 249m downhole) and GPD51 (53m @2.9g/t Au from 232m downhole), which demonstrate the strong potential of the target at depth and to the east along strike. The intersection in GPD49 is the deepest intercept to date, and is located at 260m down-dip (230m vertically below surface).
Also, the intersection in GDP48 (92m @ 0.9g/t Au from 260m down hole) is the widest zone of mineralisation drilled to date at Porcupine.
A revised long section for the recent results from Porcupine is shown below and can be viewed at www.helioresource.com. Diamond drilling is continuing at Porcupine; five more diamond drill holes have been completed - results are pending.
Dubwana and Chui Targets
Four widely spaced reconnaissance diamond drill holes (MDN1 to MDN4) were completed at the Dubwana target (Company press release dated May 14, 2009), testing a 1km section of the 5.5km long gold-in-soil anomaly.
In addition to the extensive gold-in-soil anomaly, the target is characterised by the presence of numerous active and historical artisanal mine workings.
Two zones of high-grade gold mineralisation (1m @ 15g/t Au and 1m @ 66.9g/t Au) were intersected in MND3, as presented in the table below:
Mineralisation intersected in holes MND2, MND3 and MDN4 appears to be from the same continuous structure, suggesting a strike length of over 500m. The main zone in MND3 has been drilled to a down dip depth of over 300m. The results warrant further follow-up, and geological mapping is being conducted with the objective of better understanding the structural controls on the high grade mineralisation.
One diamond drill hole was completed at the Chui Target. Although wide zones of veining, sulphides, and alteration were observed, no significant gold mineralisation was intersected
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.
Since June 2006, the Company has drill-tested thirteen targets, nine of which are hosted along the Saza Shear Zone. Twelve of the 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 60-90% of reported width. Diamond drill samples were cut with a rock saw, and sampled at 1m or 2m 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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