TSX-V Trading Symbol: HRC |
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Toll Free: +1 888 955 4728 |
E-mail: info@helioresource.com |
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Website: www.helioresource.com |
VANCOUVER,
April 6 /PRNewswire/ - Helio Resource
Corp (TSXV: HRC) is pleased to provide an exploration update on its
100%-owned Damara Gold Project (DGP) in Namibia situated 25km - 130km east of
AngloGold-Ashanti's (AGA) Navachab gold mine.
As reported on March 22,
2011, Helio has identified eight high-priority targets on
the Wilhelmstal licence, one of which is the Leatherman Target (see
map at www.helioresource.com/i/pdf/2011-04-06_NRM1.pdf for the
detailed location of the targets identified on the Wilhelmstal
licence).
Leatherman Target
A recently completed soil sampling survey over the
Leatherman Target has defined two large, continuous gold-in-soil
anomalies which represent high-priority drill targets (please refer
to the map at www.helioresource.com/i/pdf/2011-04-06_NRM2.pdf for
details on the two anomalies defined).
A total of 369 soil samples were collected on a 50m
x 25m grid covering 1,000m x 400m.
The main anomaly has a Au ± As ± Cu ± Fe ± W
association. It trends ENE-WSW and is 800m long and up to 70m
wide, as defined by the 30ppb Au contour. The anomaly is open
to the east along strike. Four samples within the anomaly
have values over 500ppb Au. The two highest grade samples -
3,846ppb Au and 1,771ppb Au - are located 700m apart (see map at
www.helioresource.com/i/pdf/2011-04-06_NRM2.pdf).
The anomaly is underlain by sulphidised
tremolite-skarn alteration within carbonates. Previous rock
sampling by AGA recorded up to 5m grading 11.3g/t Au. Limited
rock sampling by Helio within this anomaly has also confirmed the
presence of bedrock gold mineralisation, with values in grab
samples of up to 2.4g/t Au.
The second anomaly is located 150m north of the
main anomaly and covers approximately 1,000m x 120m (defined by the
10ppb Au contour). It overlies a zone of tremolite-quartz
alteration in carbonates but is less pronounced than the main
Leatherman anomaly. Peak values within the anomaly are 216ppb
Au against a threshold of less than 10ppb Au. The anomaly merges
with the main anomaly towards the east and is also open along
strike.
Soil sampling grids around Leatherman will be
extended to delineate the strike extent of the soil anomalies.
Drill testing of these anomalies will commence as
soon as possible.
The DGP Gold Project
The DGP comprises four licences (covering 318,500ha
or 3,185km2), namely Etjo South, Okakango, Wilhelmstal
and Otjimbojo. Helio holds a 100% interest in the
project.
The DGP is located between AGA's Navachab Mine to
the southwest and Auryx Gold Corp.'s Otjikoto Project to the
northeast.
The Navachab mine has been in production since 1989
and, as of December 2009, has
produced approximately 1.5 Moz of gold and has a non-NI 43-101
compliant resource of 4.48 Moz grading 1.17g/t Au (source AngloGold
Ashanti Quarterly Report, December, 2010).
Auryx's Otjikoto Gold Project, located
approximately 150km northeast of Helio's licences has a NI43-101
indicated resource (February, 2011) of 15.78Mt grading 1.94g/t Au
and an inferred resource of 8.37Mt grading 1.94g/t Au for total of
1.5 Moz at a 0.8g/t cut-off.
About Helio
Helio Resource Corp. is a well financed gold
exploration company focused on increasing the initial NI 43-101
compliant resource at the SMP Gold Project in Tanzania and outlining the resource potential
at the Damara Gold Project in Namibia.
In November 2010,
Helio released an encouraging initial resource estimate for the
SMP: Measured and Indicated Resource of 588,749 ounces (11.82Mt
grading 1.54g/t Au) plus an Inferred Resource of 352,354 ounces
(9.9Mt grading 1.10g/t Au) at a cut off grade of 0.3g/t Au.
Chris MacKenzie,
M.Sc., C.Geol., Helio's COO and a Qualified Person as designated by
NI 43-101, supervises the exploration at Helio's projects,
including the sampling and quality assurance / quality control
(QA-QC) programmes, and has reviewed the contents of this news
release. All geochemical samples were submitted to Acme
Analytical Laboratories in Vancouver for ICP analysis using the 1DX 30g
method. As well as the lab's own internal QA-QC controls
(blanks, standards and replicates), Helio applied a QA-QC programme
consisting of taking duplicates or inserting CRM standards at a
rate of approximately 1 every 22 to 26 samples.
ON BEHALF OF THE BOARD OF DIRECTORS
"Richard D. Williams"
Richard D. Williams, P.Geo
CEO |
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"Chris MacKenzie"
Christopher J. MacKenzie, C.Geol.
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.