Hellix Ventures Inc.

Published : May 11th, 2012

Margarita HVM12-05 Drill Hole Check Assay Results

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Keywords :   Canada | Debt | Gold | K Street | Silver |

 

 

Phone: (604) 683-6657

Fax: (604) 684-4407

www.hellixventures.com

PRESS RELEASE

 

May 11, 2012

 

Hellix Margarita HVM12-05 Drill Hole Check Assay Results

 

HELLIX VENTURES INC. (HEL:TSX.V / HLLXF:OTC) -Vancouver, BC- Frank Underhill, President, announces check assay results received from an independent assay laboratory on Hole HVM12-05 from the drill program completed this year on its Margarita gold project in southern Arizona.  Initial results on all twelve holes were received from Skyline Laboratories in Tucson, Arizona and announced on April 18, 2012.

The check assays were prompted by doubts expressed by Hellix technical personnel at the lack of anomalous gold values from the original assays of Hole HVM12-05 in which the split core showed strong similarities to the near surface core from other holes drilled on the Main Margarita zone which returned higher gold values. 

The values in Table 1 below show one gold mineralized five foot interval of Hole HVM12-05 from the initial testing of the core by Skyline.  The values in Table 2 utilize check assays from ALS Minerals in Reno of the same hole showing a twenty-five foot interval from surface averaging 3.70 grams gold per metric tonne.

TABLE 1

ASSAY FROM INITIAL LABORATORY TESTING

Hole ID

From (ft)

To (ft)

Length (ft)

Length (m)

Au (g/Mt)     Au oz/t

HVM12-05

0

5

5

1.5

0.45            0.013

TABLE 2

CHECK ASSAYS FROM SECOND LABORATORY TESTING

Hole ID

From (ft)

To (ft)

Length (ft)

Length (m)

Au (g/Mt)

Au oz/t

HVM12-05

0

25

25

7.6

3.70

.108

Including

0

5

5

1.5

1.60

.047

Including

5  

10

5

1.5

6.20

.181

Including

10

15

5

1.5

4.37

.127

Including

15

20

5

1.5

5.33

.155

Including

20

25

5

1.5

1.00

.029

 

For the check assays, select pulp samples from HVM12-05 were shipped from Skyline Laboratories in Tucson, Arizona directly to ALS Minerals in Reno, Nevada by Skyline employees as requested by Hellix.  ALS Minerals in Reno, Nevada (an ISO accredited lab) tested the pulps for gold via fire assay with gravimetric finish.  Two standards and one blank were included for QA/QC purposes.

The Company intends to re-assay select pulps from mineralized intersections on all the holes by a third independent assay lab as an audit confirmation of the originally reported assays. 

Management is pleased with the results so far, particularly on the Main Margarita zone.   As at this date, all holes in this zone show a minimum of twenty feet of continuous anomalous gold at or near surface.  All results from the latest check assays will be announced when received.


The technical portion of this release has been reviewed by Qualified Person Laurence Sookochoff, P. Eng.

 

HELLIX VENTURES (HEL – TSX.V) is engaged in the identification, acquisition, exploration and development of gold and silver properties in North America. Hellix has no debt (other than short-term trade payables), and has positive cash flow from fossil fuel production in Western Canada. All transactions stated or referred to herein are expressly subject to TSX Venture Exchange approval as well as all other applicable regulatory body approvals.

 

ON BEHALF OF THE BOARD OF DIRECTORS

 

HELLIX VENTURES INC.

 

Frank Underhill

President

 

Website: www.hellixventures.com   Email: info@hellixventures.com

Toll Free: 1-877-430-3113  Phone: (604) 683-6657  Fax:  (604) 684-4407

 

Neither 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.   The forgoing is for informational purposes only, and is not to be construed as an offer to buy or sell securities in any jurisdiction. It may contain forward-looking statements. While the data compiled by management is from sources deemed to be reliable, actual future results may vary materially.  Hellix Ventures Inc. does not assume the obligation to update any forward-looking statement and will not be responsible for any loss arising from the use of this information.  Historically reported results may not be NI 43-101 compliant and therefore caution should be used in relying on such statements.

 

 

 



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Hellix Ventures Inc.

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CODE : HEL.V
ISIN : CA4234011084
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Hellix Ventures is a silver and gold exploration company based in Canada.

Hellix Ventures produces silver, gold, oil in Canada.

Its main asset in production is STAR VALLEY in Canada and its main exploration properties are MARGARITA MINE and ATHABASCA CLAIMS in Canada and MINITAS / LA COBRIZA in Mexico.

Hellix Ventures is listed in Canada and in United States of America. Its market capitalisation is CA$ 1.6 millions as of today (US$ 1.3 millions, € 1.2 millions).

Its stock quote reached its highest recent level on September 23, 2011 at CA$ 1.67, and its lowest recent point on April 21, 2015 at CA$ 0.03.

Hellix Ventures has 46 540 000 shares outstanding.

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Annual reports of Hellix Ventures Inc.
Annual report 2007
Financings of Hellix Ventures Inc.
3/17/2010Private Placement Closed
Project news of Hellix Ventures Inc.
10/4/2012Athabasca Gold Project Update
7/10/2012Gold Project Updates
6/5/2012Margarita HVM12-05 Drill Hole Check Assay Results
5/11/2012Margarita HVM12-05 Drill Hole Check Assay Results
1/18/2012Begins Drilling at Margarita
7/27/2011(Margarita Mine)Hellix Announces Silver Assays From USBM Program at Margarit...
2/20/2011(Margarita Mine)Hellix Sampling Uncovers New Margarita Gold Zone
7/6/2010(Athabasca Claims)Work Expands Targets
5/22/2010(Athabasca Claims)Work Commences/Margarita Gold Project Overview
7/14/2008(Minitas / La Cobriza)La Luz Tunnel Expansion Progress
4/2/2008Confirms Former High Grade Results
9/24/2007(Minitas / La Cobriza)2007 Technical report
Corporate news of Hellix Ventures Inc.
12/10/2014IIROC Trading Halt - HEL
9/6/2013Drops Margarita Lease
6/5/2012Margarita Drill Final Audit Results
6/5/2012Hellix Ventures News Release
5/11/2012Hellix Ventures News Release
4/18/2012Margarita Drill Program Results
4/18/2012Hellix Ventures News Release
3/28/2012Files Drill Permit Application for Athabasca
3/28/2012News Release
2/22/2012Completes Margarita Drill Program
1/18/2012Hellix Ventures News Release
12/22/2011Hellix Ventures News Release
12/22/2011Margarita Drill Permit Final Approval
12/7/2011Athabasca Underground Rock Sampling Results
9/16/2011Athabasca Gold in Soil Sampling Results
9/16/2011Hellix Ventures News Release
6/7/2011Corroborates USBM?s Anomalous Gold on Margarita
2/16/2011Sampling Uncovers New Margarita Gold Zone
4/14/2010Options Margarita Gold Property
12/7/2009Hellix Releases Sample Results/Work Program*
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