|Wed Jun 2, 2010|
Diamond Drilling at Porcupine -- SMP Gold Project, Tanzania, Intersects New Zone of Gold Mineralisation
Helio Resource Corp. ("Helio" or the "Company") (TSX-V: HRC) is pleased to report the latest results from the 2010 diamond drill programme at the SMP Gold Project in the Lupa Goldfields, Tanzania. These results confirm the presence of a NW trending mineralised zone that appears to extend northwest from the Porcupine to the Quill Target over a strike length of at least 250m.
Two drill holes are reported herein, GPD67 and GPD78. Results are tabulated below:
NB -- holes GPD68 to 77 were drilled elsewhere and will be reported when results are available
GPD67, collared approximately 100m north of the main zone of mineralisation at the Porcupine Target, was drilled from NE to SW on an azimuth of 220 into the footwall of the southeast-dipping main zone of mineralisation to test for NW-SE striking, NE-dipping structures.
The majority of veins encountered in the mineralised sections of the drill core were oriented at a high angle to the drill core, confirming the presence of a NW trending mineralised zone that appears to extend northwest to the Quill Target, where RC (reverse circulation) drilling intersected 72m grading 0.6g/t gold (see news release date June 1, 2009). See simplified plan map below that shows the location of GPD67 and the orientation of this new zone of mineralisation in relation to the main zone.
This drilling suggests that this northwest trending zone of mineralisation extends at least 250m to Quill.
GPD78 was drilled from E to W, and was located 50m north of hole GPD65, which intersected 52m grading 3.7g/t Au (see company press release dated April 19, 2010). This hole was drilled to test the plunge direction and thickness of the higher grade core of mineralisation in the main zone, and also to test the intersection of main zone and the northwest trending zone identified in GPD 67.
Results are presented on the Company's website, and a revised 3d model will be available within one week on www.corebox.net through the Company's website: www.helioresource.com.
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 sixteen targets. Fifteen of the targets have intersected bedrock-hosted gold mineralisation, the most advanced being the Porcupine and Kenge 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. Intercepts are reported as drilled widths, true width of the widest intercept is estimated to be approximately 60-90% of reported width. Continuous 1m samples were taken every through the main mineralised zone, and 2m samples were taken outside this. Samples were split with a core saw and one half was retained on site. 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 email@example.com or Chris MacKenzie +44 789 423 7424 or by email to firstname.lastname@example.org.
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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