Latest Drill Results from the Porcupine Target Confirm Bedrock
Mineralization Over a 500m Strike Length:
Mineralization Remains Open to the West and East
40.1m @ 2.2g/t Au
39.7m @ 2.3g/t Au
VANCOUVER, Oct. 6 /CNW/ -
PORCUPINE DRILLING UPDATE
Helio Resource Corp. ("Helio" or the "Company") (TSX-V: HRC) is pleased to
report the latest drill results from 10 drillholes from the Porcupine Target
at the SMP Gold Project, in the Lupa Goldfields of SW Tanzania, including:
- 40.1m @ 2.2g/t Au in GPD10
- 39.7m @ 2.3g/t Au in GPD20
The Company is very encouraged by the continuing good results from the
Porcupine target, which support management's view that Porcupine - in addition
to the Kenge target - has the potential to host a significant open-pittable
These results are from drillholes GPD6 to GPD14, inclusive, and GPD20.
Results are presented in the links below.
Table of drill intercepts:
Porcupine Target long section - main zone:
Porcupine Target Map:
Hole GPD10 was drilled 50m ENE along strike from GPD4 (49.6m @ 3.3g/t Au,
see Company press release dated July 21, 2008). GPD20 was drilled 50m ENE of
GPD10. Hole GPD9 was drilled 50m West of GPD4.
Holes GPD11 to GPD14 were drilled along a north-south oriented fence
line, located 450m to the West of GPD4. The objective of this drilling was to
confirm the location of the main mineralised zone in this area, where outcrop
is limited. A thick zone of mineralisation was intersected in GPD12 (30m+
grading 0.9g/t Au from surface (open)). The mineralised zone in GPD12 is of
the same style as that found further east (in drillholes GPD1 to GPD5 and GPD9
to GPD20), and is open in all directions.
Holes GPD6 to GPD8 were reconnaissance drillholes drilled to the NNW of
hole GPD5 (52.2m @ 3.3g/t Au, see Company press release dated July 21, 2008)
and intersected narrow, lower-grade mineralised zones in the footwall of the
main mineralized zone.
Geological mapping has confirmed that the Porcupine target continues over
a strike length of at least 1,000m, extending 350m to the west of GPD12 and
over 200m to the east of GPD20.
The historical Gap Mine is located approximately 1,900m away to the NE
along strike from GPD20. Soil geochemistry and airborne magnetic data
indicates the structure is continuous between Gap and Porcupine. The only hole
drilled by Helio at Gap, an RC hole, returned 8 metres grading 1.2g/t Au (see
Company press release dated November 19, 2007).
Drilling continues at the Porcupine Target and additional drill results
will be released as they become available.
ABOUT THE SMP GOLD PROJECT
Helio, through its 100% owned subsidiary BAFEX Tanzania Ltd., can earn a
100% interest in four contiguous licences, which cover a 27km strike length of
the Saza Shear Zone (see news releases dated December 19, 2005 and
September 11, 2006). The project covers the eastern part of 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).
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 -48 degrees and were drilled perpendicular
towards the main structural trend. Intercepts are reported as drilled widths,
and estimated true widths vary from 65-95%+ of drilled width. Core was halved
with a rock saw and sample lengths between 0.3m and 1.5m 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