VANCOUVER, Jan. 17, 2012 /CNW/ - Helio Resource Corp (TSX-V: HRC) is pleased to report the final results from the 2011 RC drill programme at the SMP Gold Project in Tanzania. Results are from the Konokono Target, and confirm the presence of multiple new zones of mineralisation which are open in all directions. Previous drilling of the Konokono Target intersected grades up to 13m @ 3.7g/t Au (see Company press release dated February 23, 2009).
- Discovery of new, very wide zones of low grade mineralisation, indicating excellent bulk tonnage potential;
- SER36 - 72m grading 0.5g/t Au
- SER37 - 112m grading 0.5g/t Au;
- Intersection of narrower, high grade zones;
- SER22 - 4m grading 11.2g/t Au
- SER36 - 8m grading 3.2g/t Au
- Mineralisation appears to be continuous through to the Kipanga Target (southwest to the Konokono Target), extending the strike length of mineralisation to 1,700m;
- Mineralisation is open along strike and to depth.
The 2011 drilling was intended to infill and extend the known mineralisation at Konokono. A total of 29 RC drill holes (SER9-SSR37 - 2,670m) were drilled on six drill fence lines 200-300m apart, covering an east-west strike length of 1,200m. Mineralisation is also open to the north on the easternmost drill fence - a historical drillhole collar drilled by AngloGold Ashanti (AGA) in the late 1990's, located some 150m north of Helio's drilling. This indicates the potential for the Konokono target to contain two parallel NE-trending zones, approximately 100-150m apart, each with a strike length of 500-1,000m.
Further drilling to convert the mineralisation to NI 43-101 compliant resources is planned for 2012.
The Konokono Target is located along the Saza Shear Zone between the Kenge and Porcupine Targets (for exact location see project plan map at http://www.helioresource.com/i/pdf/2012-01-17_NRM1.pdf). The area is characterised by the intersection of numerous NE, ENE and NW trending structures, which are similar to the structures controlling the mineralisation at both Kenge and Porcupine.
Gold Mineralisation at Konokono is associated with multiple quartz veins and disseminated pyrite hosted within sericite-altered, granitic host rocks.
Mineralised intercepts are documented below
|Hole||From||Length||Grade Au (g/t)||Comment|
A detailed Konokono regional drilling map is represented in the following link:
And a long section of the Konokono Target can be viewed by clicking the following link:
About the SMP Gold Project
The SMP Gold Project covers an area of 238km2. Gold mineralisation has been identified in 30 targets within the project area. Two of these targets, Porcupine and Kenge, have been advanced to the resource stage and both, especially Porcupine, still have potential to grow significantly. In November 2010, Golder Associates (UK) Ltd. provided an initial NI 43-101 compliant resource estimate for the SMP. The restrained estimate at a 0.5g/t Au cut-off reports 498,075 ounces (10.94MT grading 1.41g/t Au) in the Measured and Indicated category, plus 273,847 ounces (7.06MT grading 1.2g/t Au) in the inferred category.
Mineralisation at all 30 targets outcrops at surface, and varies from narrow, high-grade gold mineralisation hosted in quartz veins and shear zones, to wide zones (up to 110m+ in width) of lower grade, bulk mineable / open pittable mineralisation.
Helio owns a 100% interest in four of five licences, subject to a 2% NSR to the vendors (Tanzanian small mining companies), and the Company is in the process of earning a 100% interest in the fifth licence.
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 and approved the contents of this news release. Intercepts are reported as drilled widths, more drilling is required to confirm true widths. Continuous 2m composite samples were taken from all holes. A reference sample was retained on site. All 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. Weighted average intercepts are calculated using a 0.5g/t Au cut-off, unless otherwise stated and may include some mineralised waste. Any individual assays over 20g/t Au are highlighted.
ON BEHALF OF THE BOARD OF DIRECTORS
| "Richard D. Williams"
Richard D. Williams, P.Geo
| "Chris MacKenzie"
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.
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