TSX-V Trading Symbol: HRC
VANCOUVER, May 4 /CNW/ - Helio Resource Corp. ("Helio" or the "Company") (TSX-V: HRC) is pleased to report the latest results from the 2010 diamond drill programme at the SMP Gold Project in the Lupa Goldfields, Tanzania.
One drill hole is reported herein, namely GPD-66. This hole was drilled across the main Porcupine zone on an azimuth of 220 degrees to test for north-east dipping structures within the south-west dipping main zone of mineralisation. The hole was planned after interpretation of structural data from diamond drill holes GPD63, 64 and 65 as reported in the Helio press release dated April 19, 2010.
This drill hole intersected a wide zone of gold mineralisation (as anticipated from previous drilling in the same area), which averaged:
- 79m grading 3.1g/t Au from 88m (estimated true thickness is 40m);
- Including 38m grading 5.0g/t Au from 100m (inc. 1m grading 82.7g/t Au
between 101-102m) (estimated true thickness is 20m).
These results confirm that the Porcupine target hosts a number of variably oriented mineralised structures, and effective targeting of these can give rise to significant increases in gold grade.
Prior to 2010, 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. Most of the structures in GPD66 are cut at a very high-angle to the core axis. A revised long section is shown at http://www.helioresource.com/i/pdf/2010-05-04_NRM1.pdf. In addition, a photograph showing the intersection angles of the mineralised quartz veins in relation to the drill core is shown on the Company's web site at www.helioresource.com/i/pdf/2010-05-04_NRM2.pdf.
Additional drilling is planned, using the same drill orientation, to confirm that the grade increase seen in GPD-66 is consistent throughout the Porcupine Target.
Results are presented on the Company's website (www.helioresource.com), and a revised 3D model will be available on www.corebox.net by the end of this week.
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). Metallurgical testwork on these two targets show recoveries of up to 94.8% and 95.6%, respectively, using conventional methods.
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 of the widest intercept is estimated to be approximately 40m. Continuous 1m samples were taken 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