TSX-V Trading Symbol: HRC
VANCOUVER, May 4 /PRNewswire-FirstCall/ - Helio Resource
Corp. ("Helio" or the "Company") (TSX-V: HRC) is pleased to report
the latest results from the 2010 diamond drill programme at the SMP
Gold Project in the Lupa Goldfields, Tanzania.
One drill hole is reported herein, namely GPD-66. This hole was
drilled across the main Porcupine zone on an azimuth of 220 degrees
to test for north-east dipping structures within the south-west
dipping main zone of mineralisation. The hole was planned after
interpretation of structural data from diamond drill holes GPD63,
64 and 65 as reported in the Helio press release dated April 19, 2010.
This drill hole intersected a wide zone of gold mineralisation
(as anticipated from previous drilling in the same area), which
averaged:
- 79m grading 3.1g/t Au from 88m (estimated true thickness is 40m);
- Including 38m grading 5.0g/t Au from 100m (inc. 1m grading 82.7g/t Au
between 101-102m) (estimated true thickness is 20m).
These results confirm that the Porcupine target hosts a number
of variably oriented mineralised structures, and effective
targeting of these can give rise to significant increases in gold
grade.
Prior to 2010, all previous drilling at Porcupine has been
conducted on an azimuth of 340 degrees, perpendicular to the mapped
structural trend. However, oriented core drilling in late 2009
indicated the need to test the target using a different
orientation. Most of the structures in GPD66 are cut at a very
high-angle to the core axis. A revised long section is shown at
http://www.helioresource.com/i/pdf/2010-05-04_NRM1.pdf. In
addition, a photograph showing the intersection angles of the
mineralised quartz veins in relation to the drill core is shown on
the Company's web site at
www.helioresource.com/i/pdf/2010-05-04_NRM2.pdf.
Additional drilling is planned, using the same drill
orientation, to confirm that the grade increase seen in GPD-66 is
consistent throughout the Porcupine Target.
Results are presented on the Company's website
(www.helioresource.com), and a revised 3D model will be available
on www.corebox.net by the end of this week.
ABOUT THE SMP GOLD PROJECT
--------------------------
Helio, through its 100% owned subsidiary BAFEX Tanzania Ltd.,
can earn a 100% interest in five contiguous licences, which cover a
35km strike length of the Saza Shear Zone.
Since June 2006, the Company has
drill-tested sixteen targets. Fifteen of the targets have
intersected bedrock-hosted gold mineralisation, the most advanced
being the Porcupine and Kenge Targets (see the Corporate
Presentation on the Home Page of the Company's website at
www.helioresource.com). Metallurgical testwork on these two targets
show recoveries of up to 94.8% and 95.6%, respectively, using
conventional methods.
Chris MacKenzie, M.Sc., C.Geol.,
Helio's COO and a Qualified Person as designated by NI 43-101,
supervises the exploration at the SMP project, including the
sampling and quality assurance / quality control programmes, and
has reviewed the contents of this news release. Intercepts are
reported as drilled widths, true width of the widest intercept is
estimated to be approximately 40m. Continuous 1m samples were taken
through the main mineralised zone, and 2m samples were taken
outside this. Samples were split with a core saw and one half was
retained on site. Samples were submitted to the lab with internal
QA/QC checks including the use of blanks and standards (ave. 1
every 17 samples) and duplicates (ave. 1 every 25 samples). Samples
were assayed at the SGS Laboratory in Mwanza, Tanzania by 50g gold fire assay. As well as
the Company's internal QA/QC programme, SGS also applied their own
internal QA/QC programme, consisting of insertion of standards and
duplicates. Unless otherwise stated, weighted average intercepts
are calculated between the uppermost and lowermost samples within
the main mineralised zone using a 1.0g/t Au cut-off and may include
some internal waste.
ON BEHALF OF THE BOARD OF DIRECTORS
"Richard D. Williams" "Chris MacKenzie"
Richard D. Williams, P.Geo Christopher J. MacKenzie, C.Geol.
CEO COO
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.
SOURCE Helio Resource Corp.