VANCOUVER, Jan. 23, 2012 /CNW/ - Helio Resource Corp (TSX-V: HRC) is
pleased to report the results of an extensive geochemical (soil
sampling) survey over the Gold Kop target, part of the Damara Gold
Project in central Namibia.
Three distinct target areas discovered; Gold Kop Main, SE, and NE;
Over 7km of anomalous geochemistry along the Gold Kop Main trend;
Identification of 6 new, high-priority, multi-element gold targets at
Gold Kop Main;
Two new anomalies: NW and SE of Gold Kop;
Gold-in-soil results up to 7.6g/t Au;
Prospective horizons continue for another 20km+ within Helio's licence.
Helio has been exploring the Gold Kop target since March 2011, including
drill-testing a 1.3km strike length of the main prospective horizon
identified to date - a dolomitic marble hosting a combination of wide
low-grade zones of mineralisation and narrower zones of high-grade gold
mineralisation. Notable drill results include:
50m grading 2.1g/t Au, 0.8% Cu and 14g/t Ag;
4m at 11.6g/t Au, 38m at 0.8g/t Au, and;
1m at 32.9g/t Au (see news releases dated June 13, August 24, and
November 15, 2011).
The mineralisation drilled to date shows many similarities to AngloGold
Ashanti's (AGA) Navachab Gold Mine, located 40km to the southwest.
In Q4 2011, Helio completed a soil sampling programme covering a 10km2 area over and adjacent to the Gold Kop Target.
4,056 soil samples were collected on lines spaced 100m apart N-S, at a
25m spacing (E-W). The samples (including 52 standards and 82
duplicates) were analysed by 37 element ICP-MS. The soil sampling
results have identified three main areas for follow-up (for exact
location refer to the following link: http://www.helioresource.com/i/pdf/2012-01-23_NRM1.pdf)
Gold Kop Main
Gold Kop SE
Gold Kop NW
Gold Kop Main
The geochemical response at Gold Kop Main shows that the target horizon
is a folded, dolomitic marble, enriched in magnesium (indicative of
tremolite alteration), gold, copper and other elements. The target
horizon consists of two limbs of an antiformal structure, which remains
open to the SW. The unfolded strike length of the main mineralised
horizon at Gold Kop Main is at least 7km long. Helio has confirmed
bedrock-gold mineralisation in drilling along a 1.3km-length of this
Six substantial new Au±Ag±As±Cu±Fe±Sb±Bi anomalies were detected along
the target horizon (see map at http://www.helioresource.com/i/pdf/2012-01-23_NRM2.pdf for location of six anomalies). Against a threshold of 13ppb Au, a
total of 21 samples recorded values greater than 500ppb, 7 being higher
than 1,000ppb Au (1g/t Au). The two highest samples recorded values of
7.6g/t Au and 5.8g/t Au, respectively. These samples are 300m apart on
the same structure and are located 600-900m SW of drill hole OJR13,
which intercepted 4m grading 11.6g/t Au. The samples are within a
1.6km+ long Au+Cu+Ag+As anomaly, which is open to the south-west
Target 3 includes a 400m x 300m area centred around the fold hinge with
a peak gold value of 894ppb Au.
Drill testing of these areas is planned to commence in Q1, 2012.
Gold Kop SE
The Gold Kop SE target, located approximately 1km SE of Gold Kop Main,
is a 1.5km long, NE- to E-trending anomaly defined by elevated copper
and magnesium values. At the east end, this anomaly has a 300m long
zone with a highly anomalous polymetallic signature close to a granite
contact. Peak element concentrations in the soils are 495ppb Au, +1%
Cu, 154ppm Mo, 2g/t Ag and 30% Fe, and is also anomalous in other
pathfinders such as Sb, Bi, W, As and V. It is under shallow cover and
is open in all directions.
No work has ever been conducted in this area. Ground follow-up to
identify drill targets will be conducted as soon as possible.
Gold Kop NE
This target is located 2km to the north of the area drilled by Helio in
2011. It is a 1.5km+ long zone of anomalous As±Cu±Fe±Bi±V±Mo
geochemistry that appears to be associated with the same folded
dolomite target horizon at Gold Kop Main. Gold values are low here,
but the rocks are under shallow cover, which appears to mask the gold
A total of 1,536m of RC drilling (10 new holes, plus extensions to two
existing holes) was completed in December 2011. The drilling was
planned to identify the depth potential of the Gold Kop target, which
has only been drilled at shallow depths to date. Five of the holes
stopped before reaching the target dolomite-calc marble contact due to
water ingress. Six of the holes intersected the target horizons,
including zones with massive sulphide mineralisation. The remaining
holes were drilled for geological information peripheral to the target
areas. Results from the drilling are expected in February 2012.
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
B2Gold 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 5.1 Moz grading 1.15g/t Au (source
AngloGold Ashanti Resource Report, 30 June, 2011).
B2 Gold'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.
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 DGP
Gold Project in Namibia.
In November 2010, Golder Associates (UK) Ltd. provided an initial NI
43-101 compliant resource estimate for the SMP. The restrained
estimate at a 0.5g/t Au cut-off reports 498,075 ounces (10.94MT grading
1.41g/t Au) in the Measured and Indicated category, plus 273,847 ounces
(7.06MT grading 1.2g/t Au) in the Inferred category.
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 samples were submitted
to the Acme Analytical Laboratories Ltd. facility in Vancouver,
Canada. Samples were assayed by the 30g 1DX ICP-MS method. As well as
the Company's internal QA/QC programme (standards blanks and
duplicates), Acme also applied their own internal QA/QC programme,
consisting of standards, blanks and replicates.
ON BEHALF OF THE BOARD OF DIRECTORS
"Richard D. Williams"
Richard D. Williams, P.Geo
Christopher J. MacKenzie, C.Geol.
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:
For additional information, please contact Richard Williams or Irene Dorsman at +1 604 638 8007 or by e-mail to firstname.lastname@example.org or email@example.com.