The SMP Gold Project covers a 238km2 area in the Lupa Goldfield, SW Tanzania and is adjacent to the New Luika Gold Mine, operated by Shanta Gold Limited, an AIM-listed company. On March 26, 2015, Helio released a new resource calculation from the SMP Gold Project, which classified the SMP Mineral Resource almost entirely as Indicated, giving greater confidence in the quality of the resource estimation and allowing Helio to advance the project to a production decision through a feasibility study.
The resource reports a total Indicated Resource of 7.5 MT grading 2.4 g/t Au for 590,000 oz Au contained. This can be broken down into 5.9 Mt grading 1.8 g/t Au for 332,000 oz inside a pit constrained shell at US$1,400/oz gold price and 1.6 Mt grading 4.9 g/t for 258,000 ounces of potentially underground mineable material.
The total Inferred Resource is 0.56 Mt at 2.5 g/t Au containing 45,000 oz Au in the same pit constrained shell and underground configurations. - click here for full details.
Metallurgical testwork indicated recoveries of up to 96% using a gravity and cyanidation process.
All technical information on this website has been reviewed and approved for disclosure by Mr. C. MacKenzie, M.Sc., C.Geol, Helio's COO and Qualified Person as designated by NI 43-101.