Helio reports additional diamond drill results from the Gold Kop target, Damara Gold Project, Namibia

6m at 5.3g/t Au and 23g/t Ag
18m at 1.0g/t Au
28m at 1.8g/t Au (incl. 5m at 6g/t)

TSX-V Trading Symbol: HRC

VANCOUVER, Nov. 28, 2011 /CNW/ - Helio Resource Corp (TSX-V: HRC) is pleased to report final assay results from diamond drilling at the Gold Kop target, part of the Damara Gold Project in central Namibia.  A total of 5 diamond drill holes (484m) are reported; OJD8 to OJD12.  These holes were all drilled northwards to test the southwards-dipping dolomite-calc marble contact.

Highlights

  • Three of the five holes intersected mineralised massive sulphide / gossan at the contact.
  • Combination of narrow high-grade zones and wider low-grade gold mineralisation indicative of Navachab-style mineralisation.
  • Additional silver mineralisation with grades up to 117g/t.
  • Only one of seven targets tested to date.

Holes OJD11, OJD8 and OJD12 were drilled from pads 20m apart on a section 60m south of OJD1 to test the strike continuity of the high-grade sulphide mineralisation in OJD1.  OJD11, the westernmost hole, did not intersect the zone. OJD8 intersected some high-grade mineralisation and OJD12, the easternmost hole drilled through almost 10m of gossan overlain by mineralised dolomite.  The gossan had highest individual grades of 9.9g/t Au, 15g/t Ag and 0.4% Cu over 1m.  No secondary copper minerals were visible and the gossan was heavily leached but the mineralisation and texture of the zone indicates it is the same as the massive sulphide intersect in OJD1 (7m @ 9.0g/t Au, 73g/t Ag and 4.4% Cu) with copper and silver being lost through leaching.  The zone appears to be flat-lying, and is open to the south and east, where no drilling has been done.

Hole OJD9 was drilled 140m SW of OJD1, and drilled through weathered sulphidised dolomite then a gossan developed on the dolomite-calc marble contact.  This gossan also confirms the presence of massive sulphides with a Au-Ag-Cu affinity, with individual 1m samples grading up to 4.3g/t Au, 30g/t Ag and 0.4% Cu.  More drilling is required to confirm continuity of the gossan / massive sulphide mineralisation towards OJD1 and down dip from OJD9.

Hole OJD10 was drilled 130m SE of OJD1 and drilled through 98m of dolomite before intersecting a pegmatite dyke. As a result it did not intercept the dolomite-calc-marble contact which is the main high-grade target at Gold Kop.

Table of drill results
Hole No. From Length Au (g/t) Ag (g/t) Cu (%)
OJD8 5 41 0.4*    
And 48 6 5.3 23.0  
incl. 49 1 25.5 117.0  
OJD9 9 18 1.0 7.5 0.14
And 31 1 1.6    
OJD10 15 28 0.3*    
incl. 28 2 2.2 22.5  
And 70 3 0.6    
OJD11 43 1 0.6    
And 47 1 0.6    
OJD12 37 28 1.8 5.0  
incl. 59 5 6.0 11.0  

* 0.3g/t Au cut-off

The Gold Kop Target plan map showing projection of DD intercepts is presented in the link below:

http://www.helioresource.com/i/pdf/2011-11-28_NRM1.pdf

As previously mentioned, diamond and RC drilling at the Gold Kop target has so far identified numerous mineralised zones within a very large alteration zone (see Company press releases dated June 13, August 24, October 5 and November 15, 2011):

The main mineralised styles identified to date include:

  1. Bulk-tonnage disseminated mineralisation hosted by calc-silicate altered dolomite.
  2. High-grade massive sulphide / gossan mineralisation (includes Cu+Ag)
  3. Auriferous quartz veining discordant to bedding, and
  4. Mineralised igneous dykes

The exploration target at Gold Kop is for Navachab-style carbonate-hosted gold mineralisation. The Navachab gold mine, operated by AngloGold Ashanti (AGA), is located 50km southwest of Gold Kop, has been in production since 1989, and currently has non-NI43-101 compliant resources of 5.1 million ounces grading 1.15g/t Au.

These drill results, together with previously released data, demonstrate the clear potential of the Gold Kop target to host a very large mineralised system similar to that present at Navachab.  The area drill tested to date is just one of seven coincident zones of anomalous IP, magnetics and alteration within the main Gold Kop structural corridor which covers 4,000m x 1,000m.

A complete list of all the drillholes and intercepts to date is available on the company website at: http://www.helioresource.com/i/pdf/GoldKop_Target_DGP_Collars_Nov2011.pdf
and
ht href="http://www.helioresource.com/i/pdf/GoldKop_Target_DGP_Intercepts_Nov2011.pdf">tp://www.helioresource.com/i/pdf/GoldKop_Target_DGP_Intercepts_Nov2011.pdf and at www.corebox.net

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 through its wholly-owned Namibian subsidiary, BAFEX Exploration (Pty.) Ltd.

The DGP is located between AGA's Navachab Mine to the southwest and Auryx Gold Corp.'s Otjikoto Project to the northeast.  Auryx is currently the subject of a takeover by B2Gold.

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 5.1 Moz grading 1.15g/t Au (source AngloGold Ashanti Resource Report, 30 June, 2011).

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 a 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, is based in Namibia and supervises the exploration at Helio's projects, including the sampling and quality assurance / quality control (QA-QC) programmes, and has reviewed and approved the contents of this news release. All the DD holes were drilled north at -50º. Intercepts are reported as drilled widths; more drilling is required to determine true width.  DD holes were sampled at 1m to 2m intervals, continuously in the mineralised units, selectively outside these.  All samples were submitted to the lab with internal QA/QC checks including the use of standards, blanks, salted blanks and duplicates (average of 1 QA_QC sample each every 12 samples).  Samples were assayed at the Intertek Genalysis Laboratory in Johannesburg, South Africa by 50g fire assay for gold, and by Atomic Absorption for Copper and Silver.  As well as the Company's internal QA/QC programme, Intertek Genalysis also applied their own internal QA/QC programme, consisting of insertion of standards and duplicates.  Weighted average intercepts are calculated using a 0.5g/t Au cut-off (unless otherwise stated) and may include some mineralised 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.

For further information:

Please contact Richard Williams or Irene Dorsman at +1 604 638 8007 or by e-mail to richard@helioresource.com or irene@helioresource.com.


FORFAITS PERSONNALISÉS

Jetez un coup d’œil sur nos forfaits personnalisés ou créez le vôtre selon vos besoins de communication particuliers.

Commencez dès aujourd'hui .

ADHÉSION À CNW

Remplissez un formulaire d'adhésion à CNW ou communiquez avec nous au 1-877-269-7890.

RENSEIGNEZ-VOUS SUR LES SERVICES DE CNW

Demandez plus d'informations sur les produits et services de CNW ou communiquez avec nous au 1‑877-269-7890.