VANCOUVER, April 6 /CNW/ - Helio Resource Corp (TSXV: HRC) is pleased to
provide an exploration update on its 100%-owned Damara Gold Project
(DGP) in Namibia situated 25km - 130km east of AngloGold-Ashanti's
(AGA) Navachab gold mine.
As reported on March 22, 2011, Helio has identified eight high-priority
targets on the Wilhelmstal licence, one of which is the Leatherman
Target (see map at www.helioresource.com/i/pdf/2011-04-06_NRM1.pdf for the detailed location of the targets identified on the Wilhelmstal
A recently completed soil sampling survey over the Leatherman Target has
defined two large, continuous gold-in-soil anomalies which represent
high-priority drill targets (please refer to the map at www.helioresource.com/i/pdf/2011-04-06_NRM2.pdf for details on the two anomalies defined).
A total of 369 soil samples were collected on a 50m x 25m grid covering
1,000m x 400m.
The main anomaly has a Au ± As ± Cu ± Fe ± W association. It trends
ENE-WSW and is 800m long and up to 70m wide, as defined by the 30ppb Au
contour. The anomaly is open to the east along strike. Four samples
within the anomaly have values over 500ppb Au. The two highest grade
samples - 3,846ppb Au and 1,771ppb Au - are located 700m apart (see map
The anomaly is underlain by sulphidised tremolite-skarn alteration
within carbonates. Previous rock sampling by AGA recorded up to 5m grading 11.3g/t Au. Limited rock sampling by Helio within this anomaly has also confirmed
the presence of bedrock gold mineralisation, with values in grab
samples of up to 2.4g/t Au.
The second anomaly is located 150m north of the main anomaly and covers
approximately 1,000m x 120m (defined by the 10ppb Au contour). It
overlies a zone of tremolite-quartz alteration in carbonates but is
less pronounced than the main Leatherman anomaly. Peak values within
the anomaly are 216ppb Au against a threshold of less than 10ppb Au.
The anomaly merges with the main anomaly towards the east and is also
open along strike.
Soil sampling grids around Leatherman will be extended to delineate the
strike extent of the soil anomalies.
Drill testing of these anomalies will commence as soon as possible.
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.
The DGP is located between AGA's Navachab Mine to the southwest and
Auryx Gold 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 4.48 Moz grading 1.17g/t Au (source
AngloGold Ashanti Quarterly Report, December, 2010).
Auryx'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 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 Damara
Gold Project in Namibia.
In November 2010, Helio released an encouraging initial resource
estimate for the SMP: Measured and Indicated Resource of 588,749 ounces
(11.82Mt grading 1.54g/t Au) plus an Inferred Resource of 352,354
ounces (9.9Mt grading 1.10g/t Au) at a cut off grade of 0.3g/t Au.
Chris MacKenzie, M.Sc., C.Geol., Helio's COO and a Qualified Person as
designated by NI 43-101, supervises the exploration at Helio's
projects, including the sampling and quality assurance / quality
control (QA-QC) programmes, and has reviewed the contents of this news
release. All geochemical samples were submitted to Acme Analytical
Laboratories in Vancouver for ICP analysis using the 1DX 30g method.
As well as the lab's own internal QA-QC controls (blanks, standards and
replicates), Helio applied a QA-QC programme consisting of taking
duplicates or inserting CRM standards at a rate of approximately 1
every 22 to 26 samples.
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:
please contact Richard Williams or Irene Dorsman at +1 604 638 8007 or by e-mail to email@example.com or firstname.lastname@example.org.