Drill results include:
46.0m @ 2.1g/t Au
44.1m @ 2.1g/t Au
37.0m @ 1.6g/t Au
31.7m @ 1.2g/t Au
27.5m @ 1.0g/t Au
16.8m @ 1.0g/t Au
TSX-V Trading Symbol: HRC Tel.: 604 - 638 8007
E-mail: email@example.com Website: www.helioresource.com
VANCOUVER, Jan. 26 /CNW/ -
Porcupine Target Drilling Update
Helio Resource Corp. ("Helio" or the "Company") (TSX-V: HRC) is pleased
to report the latest drill results from eleven diamond drill holes from the
Porcupine Target at the SMP Gold Project, Lupa Goldfields, SW Tanzania. The
results confirm management's view that Porcupine has the potential to host a
significant open-pittable gold resource, in addition to the potential
significant gold resource the company is testing at the Kenge Target (Company
Press Release dated January 15, 2009).
- All eleven drill holes intersected gold mineralisation.
- The new results confirm the continuity of robust mineralisation over
a 250m+ strike length from surface to a depth of 200m.
- Mineralisation is still open to depth and along strike.
Detailed results are presented in the links below:
- Table of Drill Intercepts:
- Long Section Porcupine Target:
- SMP Plan Map:
A further ten diamond drill holes from Porcupine have been submitted to
the laboratory and results are expected within the next month.
2008 Reverse Circulation Drilling Programme Summary
As mentioned previously (Company Press Release November 10, 2008) a
limited RC drill programme was initiated to test the Porcupine Target over a
1.5km strike length. Due to mechanical issues, drill rig breakdowns, and the
onset of the rainy season, the programme has been suspended, and is planned to
resume in April.
Original sampling of hole GPD2 returned an intersection of 49.8m @ 1.7g/t
Au (Company Press Release dated July 21, 2008). The Company recently
re-sampled the remaining half-core from this mineralised intercept as it
comprised extensively fractured and broken core. This exercise was undertaken
to give an indication of the potential grade variation. The re-sampled
intersection value is 49.8m @ 2.0g/t Au, an increase in gold content of 18%.
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 34km strike length of
the Saza Shear Zone (see news releases dated December 19, 2005, September 11,
2006, and October 16, 2008). The project covers the New Saza Gold Mine, which
operated between 1939 - 1956, producing approximately 270,000 ounces of gold
at an average grade of 7.5g/t Au.
Since June 2006, the Company has drill-tested eleven targets, nine of
which are hosted by the Saza Shear Zone. All eleven targets have intersected
bedrock-hosted gold mineralisation, the most advanced being the Kenge Target,
which has returned up to 22.0m grading 6.9g/t gold in the Main Zone (Company
press release dated May 23, 2007). The thickest mineralised intercept at Kenge
is from the Mbenge Zone (48.7m @ 2.1g/t Au - Company press release dated
September 8, 2008). The thickest mineralised intercept to date at the SMP was
drilled at the Porcupine target (52.2m grading 3.3g/t Au - Company press
release dated July 21, 2008). The Company is awaiting further drill results
from the Porcupine Target (10 drill holes), the Kenge Target (43 drill holes)
and the Konokono Target (5 drill holes).
Recently, the Company announced excellent metallurgical results from the
SMP project, where recoveries of up to 96% were achieved by conventional
processes at the Kenge target (Company press release August 11, 2008).
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. Unless otherwise stated all
drill holes were oriented at -48º or -60º and were drilled perpendicular
towards the main structural trend. Intercepts are reported as drilled widths,
and estimated true widths vary from 65-98%+ of drilled width. Core was halved
with a rock saw and sample lengths between 0.3m and 2.0m within the
mineralised zone were submitted to the lab (with the duplicate half being
retained). QA/QC includes the use of blanks and standards (ave. 1 every 15
samples) and duplicates (ave. 1 every 24 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
0.5g/t cut-off and may include some internal waste.
Helio's main focus is the development of the SMP Gold Project in
Tanzania. As part of its strategic approach to project development, Helio has
optioned 9 of its Namibian licences to Desert Minerals (UK) Ltd. and continues
to pursue joint venture partners for its other projects in Namibia.
ON BEHALF OF THE BOARD OF DIRECTORS
"Richard D. Williams" "Chris MacKenzie"
Richard D. Williams, P.Geo Christopher J. MacKenzie, C.Geol.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
For further information:
For further information: Richard Williams or Irene Dorsman at (604)
638-8007 or by e-mail to firstname.lastname@example.org or email@example.com