VANCOUVER, Feb. 28 /CNW/ - Helio Resource Corp (TSXV: HRC) is pleased to
report it has begun a planned 5,000m+ drill programme and geochemical
and geophysical surveys on its 100%-owned Damara Gold Project (DGP), in
The DGP comprises four licences (covering 318,500ha or 3,185km2) and is situated 25km - 130km east of Anglogold-Ashanti's (AGA)
Navachab gold mine.
The DGP licence map is presented in the link below:
The Navachab mine, has currently mined over 1.5M oz of gold and still
contains resources / reserves of approximately 3.7M oz of gold. The
same geology and styles of mineralisation at Navachab have been
discovered at the DGP.
Data review of historical work (mapping, soil sampling, rock chip
sampling, percussion, reverse circulation (RC) and diamond drilling)
conducted by AGA and other companies, and recent field work conducted
by Helio has delineated several high priority targets within 2 of the 4
licences that make up the DGP: Wilhelmstal and Otjimbojo .
Initial Focus of Diamond Drill Programme
The initial drilling is designed to develop a strong understanding of
the structural controls on mineralisation and guide the future
exploration programme on the Wilhelmstal licence in the southern part
of the DGP. Helio has identified a number of targets displaying
Navachab-style mineralisation and has begun a diamond drill programme
to collect oriented drill core from these targets, including Cheshire Cat and Bird's Nest.
The exact location of the targets is presented in the link below:
Previous drilling of these targets by AGA subsidiaries in the early
1990s intersected up to 17m grading 2.8g/t Au and 6m grading 3.6g/t Au
The Cheshire Cat target is an arcuate, 1.5km long, Au ± Cu soil anomaly overlying a
tremolite-altered zone of dolomitic marble with discordant quartz
veining and sulphidation. Rock grab sampling recently conducted by
Helio over the central portion of the Cheshire Cat anomaly, 300m SE of
where AGA drilled, has recorded grades of up to 6.5g/t Au and 0.48% Cu.
Re-assaying RC Drill Chips
Helio has conducted selective check sampling from a 20m section of
reverse circulation (RC) drill samples from a drill programme conducted
by Desert Minerals ("Desert") in late 2008 on the Otjimbojo licence at
the Gold Kop target. Check sampling was conducted using screen fire
assay techniques, due to the suspected presence of coarse gold, to give
a more accurate reflection of the gold content.
Desert's analysis of the 20m section graded 0.6g/t Au. Helio has
re-assayed the same section by screen fire assay and this returned an
intersect of 20m grading 1.2g/t Au.
A complete re-sampling exercise is due to be finished shortly. Results
will be reported once they are available.
Geophysical and Geochemical Surveys
The company has also commenced geophysical and geochemical surveys
programme on the Wilhelmstal licence
A stream-sediment sampling programme, covering 40km2, has been completed over the main target areas on Wilhelmstal. Results
are expected within the next month and will identify prospective
drainages for follow-up soil sampling.
A detailed soil sampling programme, using 50m x 25m sample spacing has
been initiated over the Leatherman target, covering an area measuring 1,000m x 450m. Leatherman is an area where
rock- and channel-sampling by AGA previously returned grades of up to 11.3g/t Au over 5m, and anomalous gold-in-rock sample values were found over a 1,000m+
strike extent. Follow-up rock sampling by Helio has confirmed the
presence of bedrock gold mineralisation in altered marbles with grades
up to 2.6g/t Au being recorded. The mineralisation has a Au + Ag + Cu
+ Fe ± As ± Bi ± Sb association, similar to AGA's Navachab gold mine.
Geophysical surveys (ground magnetics and induced polarisation [IP]) are
being conducted over the Cheshire Cat and B1 targets.
On the adjoining Ojtimbojo licence, Helio has been conducting geological
mapping over the Gold Kop target, the most advanced target on the licence.
A detailed map of the Gold Kop target is presented in the link below:
Gold Kop is a 4km-long Au ± As ± Cu soil anomaly which was drilled in a
number of places by AGA in the late 1980s and early 2000s. Drilling
results from the AGA campaigns include:
1m at 71g/t Au;
7m @ 5.6g/t Au (open);
4m @ 8.6 g/t Au (open);
8m @ 3.0g/t Au;
31m @ 0.9 g/t Au.
Significant drill intercepts (>3m @ >2.0g/t Au) were received from drill
holes over a 2.2km strike extent of altered marble. The mineralisation
is open along strike to the northeast and southwest and to depth.
Helio has conducted rock sampling over the Gold Kop anomaly, and
confirmed the same Au + Ag + As + Bi + Cu + Fe ± Sb association that is
found at both the Navachab gold mine and on the Wilhelmstal licence.
The mineralisation often has a high silver content: one chip sample
returned 5.6g/t Au and 68.0g/t Ag.
Diamond and RC drilling plus geophysical surveys (detailed magnetics and
IP) over the Gold Kop target will commence once the work at Wilhelmstal
The DGP Gold Project
The DGP comprises four licences (covering 396,000ha or 3,960km2), 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 3.73 Moz grading 1.13g/t Au (source
AngloGold Ashanti Mineral Resource and Ore Reserve Report 2009).
Auryx's Otjikoto Gold Project, located approximately 150km northeast of
Helio's licences has a NI43-101 indicated resource of 28Mt grading
1.34g/t Au and an inferred resource of 17.1Mt grading 1.28g/t Au for
total of 1.93 Moz.
Chris MacKenzie, M.Sc., C.Geol., Helio's COO and a Qualified Person as
designated by NI 43-101, supervises the exploration at the Damara Gold
Project, including the sampling and quality assurance / quality control
programmes, and has reviewed the contents of this news release.
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:
For additional 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.