| | Published : January 17th, 2012 | Latest Drill Results Discover Multiple Zones of Mineralisation at the Konokono Target, SMP Gold Proj |
|
Article
|
Comments
|
Comment this article
|
Rating
|
♥
Follow Company
|
|
|
|
|
Tuesday, January 17, 2012
Helio's Latest Drill Results Discover Multiple Zones of Mineralisation at the Konokono Target, SMP Gold Project, Tanzania
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).
Highlights
- 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 (see Map 1 below). 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 |
SER11 |
6 |
8 |
0.7 |
|
SER21 |
70 |
2 |
0.7 |
|
SER22 |
60 |
4 |
11.2 |
|
SER23 |
52 |
2 |
0.5 |
|
SER25 |
58 |
4 |
0.7 |
|
SER33 |
16 |
2 |
2.0 |
|
SER36 |
20 |
72 |
0.5 |
|
incl. |
34 |
8 |
3.2 |
|
and |
54 |
2 |
1.1 |
|
SER37 |
24 |
112 |
0.5 |
0.3 COG |
incl. |
30 |
44 |
0.7 |
|
and |
104 |
12 |
1.0 |
|
and |
160 |
2 |
2.1 |
|
The results of the drilling are available on the Company's website www.helioresource.com and at www.corebox.net.
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.
For additional information, please contact Richard Williams or Irene Dorsman at +1 604 638 8007 or by e-mail to richard@helioresource.com or irene@helioresource.com.
ON BEHALF OF THE BOARD OF DIRECTORS
"Richard D. Williams" Richard D. Williams, P.Geo CEO |
"Chris MacKenzie" Christopher J. MacKenzie, C.Geol. COO |
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.
You can also view this News Release on our website at: http://www.helioresource.com/s/NewsReleases.asp?ReportID=502222 |
|
|
| | |
Data and Statistics for these countries : Tanzania | All Gold and Silver Prices for these countries : Tanzania | All
Annual reports of Helio Resource Corp |
Financings of Helio Resource Corp |
5/9/2013 | Announces Closing of First Tranche of Non-Brokered Private P... |
4/22/2013 | Announces Private Placement for up to $1.75 Million |
2/15/2011 | Closes Private Placements for $10.0 Million |
1/28/2010 | enters into $6,210,000 Private Placement Financing Agreement... |
6/17/2008 | Closes $5,100,000 Bought-Deal Brokered Private Placement |
1/21/2008 | Closes $5,250,000 Private Placement |
12/5/2007 | to Raise $5,250,000 by Way of Private Placement |
2/26/2007 | Closes $4,900,000 Private Placement |
Nominations of Helio Resource Corp |
Project news of Helio Resource Corp |
2/25/2013 | Owns a 100% Interest in the SMP Gold Project in Tanzania Aft... |
9/13/2012 | Reports PEA of SMP Gold Project, Tanzania |
5/28/2012 | Reports Exploration Update On The Dgp Gold Project, Namibia |
5/11/2012 | again included in Haywood Securities' Quarterly Junior Explo... |
6/15/2011 | Haywood Securities features Helio Resource Corp. in mining f... |
3/9/2011 | Commences 20,000m Drill Programme on the SMP Gold Project, T... |
2/28/2011 | (Damara)Drilling, Geochemical and Geophysical Surveys Commence on th... |
3/2/2009 | Intersects Widest Zones of Mineralisation to date from Porcu... |
1/26/2009 | (Saza Makongolosi (smp))Drills 46 m of 2.1 g/t Au at Porcupine Target, SMP Gold Proj... |
1/26/2009 | (Saza Makongolosi (smp))(HRC:TSX-V) Reports Drill Results from Porcupine Target - SM... |
9/3/2008 | (Saza Makongolosi (smp))Adds Two Drill Rigs to SMP Gold Project, Tanzania; JV Partne... |
7/22/2008 | (Saza Makongolosi (smp))Reports 52.2m@3.3g/t Au from Porcupine Target - SMP Gold Pro... |
7/2/2008 | (Saza Makongolosi (smp))Reports Further Drill Results from Kenge Target, SMP Gold Pr... |
6/23/2008 | (Saza Makongolosi (smp))Reports 42.3m @ 4.0g/t Au from Porcupine Target, SMP Gold Pr... |
4/30/2008 | (Saza Makongolosi (smp))Starts Drilling at the Porcupine Target, SMP Gold Project, T... |
4/14/2008 | (Saza Makongolosi (smp))REPORTS FURTHER DRILL RESULTS FROM THE KENGE TARGET =?iso-88... |
1/31/2008 | Reports Remainder of 2007 Drilling Results - SMP Gold Projec... |
11/19/2007 | First Drill Hole from Porcupine Target on the SMP Gold Proje... |
10/15/2007 | Drilling Intersects 32m @ 2.35g/t Au at SMP Gold Project Tan... |
9/18/2007 | Intersects 19.4m @ 3g/t Au at SMP Gold Project in Tanzania |
5/23/2007 | Intersects 6.9G/T Gold Over 21.95M At The Kenge Target On Th... |
|
Corporate news of Helio Resource Corp |
8/19/2016 | Helio Announces Shares for Debt Settlement |
6/20/2016 | Shareholder Update |
5/31/2016 | Helio and Damara Merge Namibian Interests into Osino Resourc... |
11/5/2015 | Helio Announces Exercise of Warrants |
11/5/2015 | Helio (TSX-V:HRC) Announces Exercise of Warrants |
9/22/2015 | Helio Reports AGM Results |
9/22/2015 | Helio (TSX-V:HRC) Reports AGM Results |
7/8/2015 | Helio Announces Exercise of Warrants |
7/8/2015 | Helio (TSX-V:HRC) Announces Exercise of Warrants |
3/26/2015 | Helio Increases Gold Grade of and Confidence in Mineral Reso... |
3/26/2015 | Helio (TSX-V:HRC) Increases Gold Grade of and Confidence in ... |
3/25/2015 | Helio Technical Disclosure Review |
3/13/2015 | Helio (TSX-V:HRC) Technical Disclosure Review |
2/10/2015 | Helio (TSX-V:HRC) Reports Drill Results from the Konokono an... |
1/29/2015 | Helio (TSX-V:HRC) Reports Multiple High Grade Intercepts fro... |
12/11/2014 | Helio (TSX-V:HRC) Intersects High-Grade Gold Mineralisation ... |
10/28/2014 | Damara Gold (TSX-V:DMR) and Helio (TSX-V:HRC) Discover Four ... |
10/3/2014 | Helio (TSX-V:HRC) Grants Incentive Stock Options and Retains... |
9/9/2014 | (TSX-V:HRC) Announces $1.5 Million Drill Program at SMP Gold... |
9/9/2014 | Helio (TSX-V:HRC) Announces $1.5 Million Drill Program at SM... |
8/29/2014 | Helio (TSX-V:HRC) Reports AGM Results |
7/28/2014 | Helio Announces Result of Special General Meeting, Closing o... |
6/13/2014 | Helio (TSX-V:HRC) Completes First Tranche of Non-Brokered Pr... |
5/29/2014 | Helio (TSX-V:HRC) Announces $4,000,000 Non-Brokered Private ... |
5/14/2014 | Three Additional Retention Licences Granted at the SMP Gold ... |
5/14/2014 | Helio: Three Additional Retention Licences Granted at the SM... |
4/11/2014 | Retention Licence Granted at the SMP Gold Project, Tanzania |
4/11/2014 | Helio: Retention Licence Granted at the SMP Gold Project, Ta... |
3/27/2014 | Helio and Solomon Sign a Letter of Intent on the Damara Gold... |
3/27/2014 | Helio and Solomon Sign a Letter of Intent on the Damara Gold... |
3/21/2014 | Helio Files NI 43-101 Resource Report on SEDAR |
3/21/2014 | Helio Files NI 43-101 Resource Report on SEDAR |
2/3/2014 | Reports Updated Higher-Grade Resource for the Kenge and Porc... |
11/29/2013 | Confirms Extension of High-Grade Shoot at Kenge Resource Are... |
10/18/2013 | Commences Drill Programme at Kenge Resource Area, SMP Gold P... |
8/28/2013 | Announces Results of its Annual General Meeting |
10/30/2012 | Files Preliminary Economic Assessment of the Porcupine and K... |
10/5/2012 | Clarifies Information for Public Disclosure |
5/10/2012 | Grants Incentive Stock Options |
4/3/2012 | Files NI 43-101 Mineral Resource Report for SMP Gold Project... |
2/14/2012 | Announces Updated Mineral Resource Estimate at SMP Gold Proj... |
2/6/2012 | Reports Drill Results from DGP Gold Project, Namibia, includ... |
1/23/2012 | (Damara)Reports Results from a Soil Sampling Survey at the Gold Kop ... |
1/17/2012 | Latest Drill Results Discover Multiple Zones of Mineralisati... |
1/13/2012 | Interview with Jay Taylor |
1/10/2012 | Drill Results Confirm Mineralisation over 1.4km Strike Lengt... |
12/7/2011 | Intersects 7.4m Grading 6.1g/t Au at the Quill Zone, SMP Gol... |
11/28/2011 | (Damara)Reports Additional Diamond Drill Results from the Gold Kop T... |
9/22/2011 | discovers new gold mineralization over 1km strike length at ... |
9/15/2011 | Corporate Update Alert |
8/24/2011 | (Damara)Reports First Rc Drill Results from the Gold Kop Target, Dam... |
7/12/2011 | Discovers Multiple Zones of Gold Mineralisation at SMP Gold ... |
6/13/2011 | (Damara)Makes a Significant New Gold-Copper-Silver Discovery at the ... |
4/14/2011 | (Damara)Commences 5,000m Drill Programme on the Gold Kop Target, Dam... |
3/22/2011 | (Damara)Discovers New Targets at the Damara Gold Project in Namibia |
7/26/2010 | (HRC:TSX-V): Latest Drill Results Confirm Main Zone Extensio... |
11/10/2008 | Reports Additional Excellent Drill Results from Porcupine Ta... |
8/11/2008 | Reports Excellent Metallurgical Testwork Results from SMP Go... |
8/2/2008 | Terminates Agreement with TransAfrican Minerals Ltd. |
3/13/2008 | OPTIONS EIGHT NAMIBIAN LICENCES TO TRANSAFRICAN MINERALS |
11/13/2007 | 21.53m grading 3.62g/t Au Included in Additional Drill Resu... |
11/6/2007 | 16.75m grading 3.93g/t Au included in latest drill results f... |
10/29/2007 | Discovers Another New Gold Zone at the SMP Gold Project in T... |
10/23/2007 | Discovers New Gold Zone on the SMP Gold Project, Tanzania |
9/24/2007 | Options 9 Namibian Licences to Desert Minerals (UK) Ltd. |
9/14/2007 | Update on Namibia Exploration Activities |
9/11/2007 | Report on AGM and Update on Tanzania Drilling Activities |
6/5/2007 | June 1/Helio announces warrant triggering event |
3/21/2007 | reports more well-mineralised drill intercepts at the SMP go... |
|
|