|Mon Nov 28, 2011|
Helio Reports Additional Diamond Drill Results from the Gold Kop Target, Damara Gold Project, Namibia
18m at 1.0g/t Au
28m at 1.8g/t Au (inc 5m at 6g/t)
Helio Resource Corp (TSX-V: HRC) is pleased to report final assay results from diamond drilling at the Gold Kop target, part of the Damara Gold Project in central Namibia. A total of 5 diamond drill holes (484m) are reported; OJD8 to OJD12. These holes were all drilled northwards to test the southwards-dipping dolomite-calc marble contact.
Hole OJD9 was drilled 140m SW of OJD1, and drilled through weathered sulphidised dolomite then a gossan developed on the dolomite-calc marble contact. This gossan also confirms the presence of massive sulphides with a Au-Ag-Cu affinity, with individual 1m samples grading up to 4.3g/t Au, 30g/t Ag and 0.4% Cu. More drilling is required to confirm continuity of the gossan / massive sulphide mineralisation towards OJD1 and down dip from OJD9.
Hole OJD10 was drilled 130m SE of OJD1 and drilled through 98m of dolomite before intersecting a pegmatite dyke. As a result it did not intercept the dolomite-calc-marble contact which is the main high-grade target at Gold Kop.
The drilling is shown on Map 1 below. As previously mentioned, diamond and RC drilling at the Gold Kop target has so far identified numerous mineralised zones within a very large alteration zone (see Company press releases dated June 13, August 24, October 5 and November 15, 2011):
The main mineralised styles identified to date include:
These drill results, together with previously released data, demonstrate the clear potential of the Gold Kop target to host a very large mineralised system similar to that present at Navachab. The area drill tested to date is just one of seven coincident zones of anomalous IP, magnetics and alteration within the main Gold Kop structural corridor which covers 4,000m x 1,000m.
A complete list of all the drill holes and intercepts to date is available on the company website at: http://www.helioresource.com/i/pdf/GoldKop_Target_DGP_Collars2_Nov2011.pdf
http://www.helioresource.com/i/pdf/GoldKop_Target_DGP_Intercepts2_Nov2011.pdf and at www.corebox.net
The DGP Gold Project
The DGP comprises four licences (covering 318,500ha or 3,185km2), namely Etjo South, Okakango, Wilhelmstal and Otjimbojo. Helio holds a 100% interest in the project through its wholly-owned Namibian subsidiary, BAFEX Exploration (Pty.) Ltd.
The DGP is located between AGA's Navachab Mine to the southwest and Auryx Gold Corp.'s Otjikoto Project to the northeast. Auryx is currently the subject of a takeover by B2Gold.
The Navachab mine has been in production since 1989 and, as of December 2009, has produced approximately 1.5 Moz of gold and has a non-NI 43-101 compliant resource of 5.1 Moz grading 1.15g/t Au (source AngloGold Ashanti Resource Report, 30 June, 2011).
Auryx's Otjikoto Gold Project, located approximately 150km northeast of Helio's licences has a NI43-101 indicated resource (February, 2011) of 15.78Mt grading 1.94g/t Au and an inferred resource of 8.37Mt grading 1.94g/t Au for a total of 1.5 Moz at a 0.8g/t cut-off.
Helio Resource Corp. is a well-financed gold exploration company focused on increasing the initial NI 43-101 compliant resource at the SMP Gold Project in Tanzania and outlining the resource potential at the Damara Gold Project in Namibia.
In November 2010, Helio released an encouraging initial resource estimate for the SMP: Measured and Indicated Resource of 588,749 ounces (11.82Mt grading 1.54g/t Au) plus an Inferred Resource of 352,354 ounces (9.9Mt grading 1.10g/t Au) at a cut off grade of 0.3g/t Au.
Chris MacKenzie, M.Sc., C.Geol., Helio's COO and a Qualified Person as designated by NI 43-101, is based in Namibia and supervises the exploration at Helio's projects, including the sampling and quality assurance / quality control (QA-QC) programmes, and has reviewed and approved the contents of this news release. All the DD holes were drilled north at -50º. Intercepts are reported as drilled widths; more drilling is required to determine true width. DD holes were sampled at 1m to 2m intervals, continuously in the mineralised units, selectively outside these. All samples were submitted to the lab with internal QA/QC checks including the use of standards, blanks, salted blanks and duplicates (average of 1 QA_QC sample each every 12 samples). Samples were assayed at the Intertek Genalysis Laboratory in Johannesburg, South Africa by 50g fire assay for gold, and by Atomic Absorption for Copper and Silver. As well as the Company's internal QA/QC programme, Intertek Genalysis also applied their own internal QA/QC programme, consisting of insertion of standards and duplicates. Weighted average intercepts are calculated using a 0.5g/t Au cut-off (unless otherwise stated) and may include some mineralised waste.
For additional information, please contact Richard Williams or Irene Dorsman at +1 604 638 8007 or by e-mail to email@example.com or firstname.lastname@example.org.
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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