New Gold Zone drilled at Porcupine (10m grading 5.8g/t Au)
TSX-V Trading Symbol: HRC
VANCOUVER, April 19 /CNW/ - Helio Resource Corp. ("Helio" or the "Company") (TSX-V: HRC) is pleased to report the first results from the 2010 diamond drill programme at the SMP Gold Project in the Lupa Goldfields, Tanzania.
Three drill holes are reported herein, namely GPD-63, GPD-64, and GPD-65. These holes were drilled from east to west into the higher grade core of the Porcupine Target to test new structural information developed from oriented drill-core studies conducted in late 2009.
The highlights from the drilling are summarised as follows:
- All three holes intersected wide zones of mineralisation (as
anticipated from previous drilling in the same area).
- GPD 63 intersected 52m grading 1.7g/t Au from 32m;
- GPD 64 intersected 47m grading 2.0g/t Au from 118m;
- GPD 65 intersected 52m grading 3.7g/t Au from 203m uncut
(including 1m grading 98.9g/t Au between 208-209m) (or 52m
grading 2.4g/t Au with high grade zone cut to 31g/t Au)
- The gold grade increases with depth and remains open to depth.
- This implies the potential for Porcupine to host both open pittable
and underground resources.
- A new zone of gold mineralisation was intersected in GPD-65 - 10m
grading 5.8g/t Au from 303m (including 1m grading 17.5g/t Au from
- The new zone appears to dip to the north and would not have been
intersected by previous drilling.
All previous drilling at Porcupine has been conducted on an azimuth of 340 degrees, perpendicular to the mapped structural trend. However, oriented core drilling in late 2009 indicated the need to test the target using a different orientation. All three diamond drill holes reported here cut the main mineralised zone, and many of the structures in the oriented drill core were at a high-angle to the core axis.
A long section showing the location of these drill intercepts in relation to the location of previous drill intercepts is shown at www.helioresource.com/i/pdf/2010-04-19_NRM1.pdf
These results demonstrate the potential of the Porcupine target to host a number of variably oriented mineralised structures. Further structural interpretation and targeting of these structural intersections is planned in the near future.
Results are presented on the Company's website, and a revised 3d model will be available on www.corebox.net through the Company's website: www.helioresource.com.
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.
Since June 2006, the Company has drill-tested sixteen targets. Fifteen of the targets have intersected bedrock-hosted gold mineralisation, the most advanced being the Porcupine and Kenge Targets (see the Corporate Presentation on the Home Page of the Company's website at www.helioresource.com).
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. Intercepts are reported as drilled widths, true width is estimated to be 80+% of reported width. Continuous 1m samples were taken every through the main mineralised zone, and 2m samples were taken outside this. Samples were split with a core saw and one half was retained on site. 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 1.0g/t Au cut-off and may include some internal waste.
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.
SOURCE Helio Resource Corp.
For further information: For further information: Richard Williams at (604) 638-8005 or by e-mail to email@example.com or Chris MacKenzie at +44 789 4237424 or by e-mail to firstname.lastname@example.org