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In Namibia

On May 31, 2016, the agreement between Helio, Damara Gold Corp (TSX-V: DMR) and Osino Resources Corp. (a private corporation) to merge their respective interests in Namibia was completed.

Helio's Namibian interests comprised two exploration licences: EPL 3738 (Wilhelmstal) and EPL 3739 (Otjimbojo), which together are referred to as the Damara Gold Project ("DGP"). Helio and Damara have agreed to rescind their earn-in agreement (see news release dated March 27, 2014), and have transferred their respective interests in the DGP to Osino. Helio owns 14% of Osino Resources corp.

DAMARA GOLD PROJECT (DGP)


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PROJECT SUMMARY

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PROJECT SIZE:  72,200 Ha. (722km2)
LICENCES: 2 Exclusive Prospecting Licences (EPL's): Otjimbojo and Wilhelmstal
OWNERSHIP: Osino Resources Corp.
LOCATION:    Central Namibia, licences are located 20km east and in the same geological terrain of the Navachab Gold Mine, which has been sold by AngloGoldAshanti to QKR, a private equity firm, for a reported US$110M in 2014.

HIGHLIGHTS



Damara Project - Otjimbojo and Wilhelmstal licences
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GOLD KOP TARGET

Exploration in 2011 has mainly focused on the Gold Kop Target located 40km to the northeast of the Navachab mine. Exploration included drill-testing a 1.3km strike length of the main prospective horizon identified to date - a dolomitic marble hosting a combination of wide low-grade zones of mineralization and narrower zones of high-grade gold mineralization. Notable drill results include 50m grading 2.1g/t Au, 0.8% Cu and 14g/t Ag and 4m at 11.6g/t Au, 38m at 0.8g/t Au, and 1m at 32.9g/t Au. Intercepts are drilled width; more drilling is required to establish true width. Mineralisation drilled to date shows many similarities to AngloGold Ashanti's Navachab gold mine.


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In Q4 2011, Helio completed a soil sampling program covering a 10km2 area over and adjacent to the Gold Kop Target. The results confirmed six distinct target areas over a 7km strike length, returning gold-in-soil results of up to 7.6g/t Au.



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Almost 10,000m of drilling on 100m-200m spaced lines confirms potential to locate a sizeable gold target at Gold Kop - infill drilling required. Numerous other goldącopper‐in‐soil anomalies within 20km of Gold Kop yet to be drill tested, including Bull's‐Eye and Twin Peaks.

TIN PROSPECT

The tin prospect comprises two areas of surface and underground workings within the DGP, located about 1km apart, that were exploited sporadically between the 1930s and 1980s. Surface workings include placer tin production and hardrock costeans (long trenches / pits), and underground workings include several declines, to about 60m depth, and cross cuts apparently in preparation for mining. Grab samples have returned up to 1.6% Sn, 349ppm Ta, and 512ppm Nb, with the tin occurring in the form of cassiterite within granitic intrusives.

Location Southwest Africa, bordering the Atlantic Ocean between Angola, Botswana and South Africa
Population 2.25 (2012) million, growing 2% per year
Political System Unitary semi-Presidential Republic based on multi party democracy with the South West African People's Organisation as the ruling and dominant political party
PHOTO GALLERY DAMARA GOLD PROJECT

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Driving on the Damara Gold Project

Damara

Gold Kop Target, DGP

Core from the Gold Kop Target

Core from the Gold Kop Target

Core from the Gold Kop Target

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This page was created on Sat Aug 19, 2017 at 9:54:43 AM Pacific Time.