|
|
|
|
PROJECT SUMMARY
| PROJECT SIZE: | 23,800 Hectares (238km2) |
| TARGET STYLE: | Orogenic and/or Intrusion-related Gold. |
| DRILL TARGETS: | Numerous. Currently being drilled. |
| TARGETS: | Multiple gold-in-soil and bedrock anomalies over a 35km length of the Saza Shear Zone (SSZ) and related structures. Six old gold mines within the project area, including the New Saza Mine which was Tanzania's second largest goldmine, producing 270,000 ounces of gold at an average grade of 7.5g/t Au between 1939 and 1956. |
| PARTNER: | Helio can earn 100% in the five individual licences subject to royalties, earn-in on the Saza licence was completed in November 2009 . |
| LOCATION: | Lupa Goldfield, southwestern Tanzania. |
| GEOLOGY: | Early Proterozoic Lupa Block - mineralisation is dated at around 1.94Ga. |
WORK COMPLETED BY HELIO
2010 PROGRAMME
Diamond drilling into the Porcupine Main Zone intersected 53m grading 2.9g/t Au and 28m grading 5.1g/t Au.
Gold mineralisation at Porcupine Main Zone is associated with multiple sheeted quartz veins within a structural zone that ranges up to 90m wide. The Porcupine Main Zone has been successfully drill-tested over a 450m strike length, and from surface to a vertical depth of 300m. It remains open along strike to the east and west, and to depth.
Data from a recent high-resolution (50m line spacing) helicopter-borne magnetic-radiometric survey, coupled with structural reinterpretation of the drill results has confirmed that Porcupine is controlled by the intersection of several mineralised structures. The data from this magnetic survey, coupled with structural reinterpretation of the drill results has confirmed that Porcupine is controlled by the intersection of NE-SW and E-W mineralised structures. The higher-grade mineralisation appears to be controlled by the E-W structure (see image below).
The E-W structure has been traced over more than 4.5 kilometres, along which there are three major structural intersections in addition to Porcupine. Recent prospecting by Helio over two of these has discovered zones of outcropping gold mineralisation and artisanal mining activity. The best developed of these is called the Popo target. This and numerous similar targets in the vicinity of Porcupine will be tested by the current drill programme.
The Kenge Target comprises five mineralised zones, namely NW (up to 18m at 2.7g/t Au), Main (up to 22m at 6.9g/t Au), SE (up to 21.5m at 3.6g/t Au), Snakebite (up to 8m at 20.8g/t Au), and Mbenge (up to 48m at 2.1g/t Au). To date, a total of 180 diamond drill holes have been completed at the Kenge Target.
The five zones have an aggregate strike length of at least 2,000m. The target has been tested to a depth of approximately 260m, and remains open to depth, and to the east of the Mbenge Zone.
Metallurgical results from the Kenge Target are very positive -- recoveries of up to 96% from conventional gravity and cyanidation processes.
RC drilling was recently completed at the Tumbili prospect, located approximately 6km southeast of the Kenge Target. The programme consisted of 16 holes (for 1,531m) drilled on two 400m long, N-S oriented lines of scissor holes. The lines were spaced 1,000m apart and crossed the main geochemical-geophysical anomaly identified by Helio. A number of zones of mineralisation were intersected on each of the lines. Results have been returned for the first 12 holes, SSR1 to SSR12 inclusive).
The best hole on the western line was SSR11, which intersected 16m @ 1.9g/t Au from 36m. The zone is open, since it is truncated at the footwall by a post-mineralisation dyke. On the eastern line, the best hole was SSR7, which intersected 12m @ 1.4g/t Au from 10m. These two holes are located over 1,000m apart. Mineralisation at Tumbili is similar to that at Porcupine where drilling has intersected over 52m grading 3.3g/t Au.
NEW TARGETS
Fifteen of the sixteen targets drilled to date, which occur over a 20km strike length of the Saza Shear Zone and associated cross-structures, have intersected bedrock gold mineralisation over significant widths. Only two of those targets (Kenge and Porcupine) have been subject to systematic drill testing, and in both cases have yielded very positive results. It is Helio's intention over the next 8 months to conduct systematic drilling of new targets, plus test some new gold-in-soil anomalies (some of which have evidence of artisanal bedrock mining).
