|Tue Nov 16, 2004|
Airborne Geophysical Survey Identifies Significant Targets on the Leicester and Zebra Licences
|Helio Resource Corp. ("Helio") is pleased to announce that it has received the data and interpretation from the recently completed high-resolution magnetic-radiometric survey over its' 100% owned Leicester and Zebra properties (60,000 and 20,000 hectares, respectively). The new survey has identified multiple large magnetic anomalies coincident with Landsat iron-oxide anomalies, an IP chargeability anomaly and known copper mineralisation.|
Leicester is an Iron-Oxide Copper Gold (IOCG) target, highlighted as follows:
Helio intends to conduct an extensive ground IP and soil sampling survey over the main magnetic target to better define new drill targets for testing during early 2005. The airborne magnetic survey also covered Helio's Zebra property, located immediately west of the Leicester licence. Zebra contains the extensions to the Leicester IOCG system together with a newly discovered pyrrhotite-chalcopyrite bearing gabbro intrusion. The airborne magnetic survey indicates that this gabbro intrusion has minimum dimensions of 5km x 4km. A ground electromagnetic (EM) survey is planned over this anomaly to identify potential Ni-Cu sulphide mineralisation.
The high-resolution airborne magnetic survey was flown by GPX Geophysical Exploration Services of Perth, Western Australia. The survey covered 60,000 hectares of the Leicester and Zebra licences with flight-lines at 200m line-spacing and 80m mean terrain clearance.
In addition to the Leicester licence, Helio has drill-ready targets on two other 100%- owned properties, namely Otjitombo (copper-gold-cobalt) and Vredelus (gold). Technical information for the Otjitombo and Vredelus projects can be viewed in the NI43-101 report on Helio's company page at www.sedar.com. Qualified Persons
The exploration programmes underway in Namibia are under the direct supervision of Mr. Christopher MacKenzie, C.Geol., Executive Chairman of Helio Resource Corp. For additional information, please contact Richard Williams at (604) 240 8945 or by email at email@example.com
ON BEHALF OF THE BOARD OF DIRECTORS,
"Richard D. Williams"
Richard D. Williams, P.Geo
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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