Up to 72m+ @ 0.6g/t Au intersected
TSX-V Trading Symbol: HRC Tel.: +1 604 638 8005
E-mail: email@example.com Website: www.helioresource.com
VANCOUVER, June 1 /CNW/ - Helio Resource Corp. ("Helio" or the "Company")
(TSX-V: HRC) is pleased to announce the results of the late 2008 programme of
RC drilling completed on the Porcupine Target (see Company press release dated
May 12, 2009).
- Two north south fences of RC drill holes (14 holes: 1,238m) were
- The two drill fences - A and B - were located 200m and 600m west,
respectively, of the Porcupine Target Main Zone (see plan map
- Fence Line A intersected three zones of gold mineralisation,
- Two new zones of gold mineralisation, located approximately 150m
and 250m respectively to the north of the Main zone;
- Drilling of the northernmost zone (the "Quill Zone")
intersected 72m @ 0.6g/t Au, whilst the second new gold zone
reported 46m @ 0.4g/t Au, (estimated true widths of 61m+ and
41m, respectively - see attached drill sections);
- the western extension of the Main Zone (60m @ 0.5g/t Au - true
width of 15m+, drilled sub-parallel to the structure);
- Fence Line B intersected one zone of gold mineralisation
(54m @ 0.3g/t Au - estimated true width of 45m), which is
interpreted to be the westward extension of the Quill Zone (see
attached section and plan map).
The RC drilling results confirm that thick zones of gold mineralisation
occur over an 850m+ strike length at Porcupine, AND that mineralisation is
still open in both directions along strike and at depth. Furthermore, the
discovery of these new zones clearly continues to demonstrate the excellent
exploration potential of the SMP Gold Project to host a significant resource.
To date, systematic drilling by the Company has only tested less than 5% of
the prospective structures within the project area.
The Main Zone of Porcupine comprises a 450m+ strike length of gold
mineralisation which has been diamond-drill tested to 260m depth, and
intercepts up to 52m grading 3.3g/t Au have been reported (see Company press
release dated July 21, 2008).
The initial assessment of the RC drill data indicates that these newly
discovered zones of mineralisation share the same geology, style of
mineralisation and geometry as the main zone at Porcupine. For further
information please refer to the two sections and plan map presented in the
links below and posted on the Company's website at www.helioresource.com.
- Porcupine Target - RC Drill Section A:
- Porcupine Target - RC Drill Section B:
- Porcupine Anomaly Map:
Helio is very encouraged by the new discovery of these zones of thick
mineralisation in close proximity to the main Porcupine Target, where resource
definition drilling is currently ongoing. These results confirm the potential
to identify numerous other zones and shoots of mineralisation within the 4.5km
x 0.75km Porcupine-Gap target area (Company press release dated May 14, 2009).
Diamond drill testing of the Quill Zone is planned.
Further reconnaissance RC drilling is planned to the west and east of the
current extents of the Porcupine target and is expected to commence within the
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. The project covers the New Saza Gold Mine, which was the
second largest gold producer, behind the Geita Mine, in pre-Independence era
Since June 2006, the Company has drill-tested eleven targets, nine of
which are hosted along the Saza Shear Zone. All eleven targets have
intersected bedrock-hosted gold mineralisation, the most advanced being the
Kenge and Porcupine Targets (see the Corporate Presentation on the Home Page
of the Company's website at www.helioresource.com). Drilling at Kenge has
returned up to 22.0m grading 6.9g/t gold in the Main Zone and 48.7m grading
2.1g/t Au from the Mbenge Zone. The best mineralised intercept to date at the
SMP was drilled at Porcupine (52.2m grading 3.3g/t Au). The company is
well-financed and is currently drilling at the Porcupine Target.
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. Drill holes were oriented at
-50(degrees) along North-South oriented fence-lines. Intercepts are reported
as drilled widths. RC samples were riffle-split and composited into 2m
samples. 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
0.1g/t Au cut-off and may include some internal waste (in the case of GPR16
and GPR18, both holes include over 10m of internal dilution from barren
post-mineralisation dykes). A low cut-off is applied to reconnaissance RC
drilling since this method delineates the broad mineralised envelopes which
are then targeted for diamond drill testing. The highest individual assay in
GPR18 was 2m grading 5.6g/t Au from 2m.
ON BEHALF OF THE BOARD OF DIRECTORS
"Richard D. Williams" "Chris MacKenzie"
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.
For further information:
For further information: Richard Williams, (604) 638-8005 or by e-mail