Helio Resource Corp.
(�Helio� or the �Company�) (TSX-V: HRC) is pleased to report the first
drill results for 2008 from the Kenge target; part of the ongoing 20,000m
drill programme at the SMP Gold Project, SW Tanzania (Company press
release dated March 25, 2008). These results are from the first
five diamond drill (DD) holes from the Kenge Main Zone.
The best
hole, SZD-081, intersected 12.19m grading 5.79g/t Au from 61.84m.
Other intercepts include SZD-079 (9.8m grading 2.73g/t Au from 152.96m)
and SZD-080 (10.92m grading 3.04g/t Au from 170.62m).
SZD-081 was collared 40m from, and
along strike to the NW of, holes SZD-069 and SZD-070, which intercepted
19.65m grading 3.02g/t Au and 24.29m grading 2.8g/t Au respectively
(Company press release dated January 31, 2008).
SZD-079 and SZD-080
were collared 50m from SZD-069 and SZD-070 (perpendicular to
strike). Mineralisation is still open to depth. The current
drill programme is designed to delineate the open pit resource potential
at the Kenge target.
An updated list of
drill hole intercepts, including hole location data have been posted on
the company�s web site at www.helioresource.com.
Infill drilling is
ongoing on the Kenge target with the intention of outlining a resource in
Q3, 2008.
A second drill rig
will be mobilised to the Porcupine target shortly, to test the resource
potential at a target where drilling has reported up to 42m grading
2.05g/t Au (Company press release dated November 19, 2007).
ABOUT THE
SMP GOLD PROJECT
Helio can earn a 100%
interest in four contiguous licences, which cover a 27km strike length of
the Saza Shear Zone (see news releases dated December 19, 2005 and
September 11, 2006). The project area covers the eastern part of
the New Saza Gold Mine, which operated between 1939 � 1956, producing
~270,000 ounces of gold at an average grade of 7.5g/t Au. It was
the second largest colonial mine in Tanzania after the Geita Mine, which
is today operated by Anglogold Ashanti and hosts a deposit containing
over 14 million ounces of gold (not NI43-101 compliant, see
http://www.anglogold.com/NR/rdonlyres/AD7FE748-9273-4740-B531-C90B2AF9C46F/0/Geita.pdf).
Since June 2006, the
Company has drill-tested thirteen targets, eleven of
which are hosted by the Saza Shear Zone. All thirteen
targets have intersected bedrock-hosted gold mineralisation, the
most advanced being the Kenge Target, which has returned up to 21.95m
grading 6.92g/t gold (Company press release dated May 23, 2007).
The thickest well-mineralised intercept to date, 39.17m @ 2.56g/t Au was
drilled at the Mbenge target (Company press release dated March 25,
2007).
Chris MacKenzie,
M.Sc., C.Geol., Helio�s COO and a Qualified Person as designated by NI
43-101, supervises the sampling and quality assurance / quality control
programmes at the SMP Programme, and has reviewed the contents of this
news release. Drill holes were oriented at -48� or -70� and were
drilled perpendicular towards the main structural trend. Intercepts
are reported as drilled widths, true widths are thought to be between 80
and 95% of reported width. Core was halved with a rock saw and
sample lengths between 0.3m and 1.1m within the mineralised zone were submitted
to the lab (with the duplicate half being retained). QA/QC includes the
use of blanks and standards (1 every 15 samples) and duplicates (1 every
24 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. Except
when otherwise stated weighted average intercepts are calculated between
the uppermost and lowermost samples within the main mineralised zone over
a 0.5g/t cut-off and may include some internal waste.
Helio Resource Corp. is a dynamic, technically-driven mineral exploration
company, focused on high-quality project generation in southern
Africa. Helio is actively exploring 27 prospective gold, base-metal
and diamond properties in Namibia, Botswana, Mozambique and
Tanzania. The main focus for the Company is the development of the
SMP gold project in Tanzania. As part of its strategic approach to project
development, Helio has optioned 17 of its Namibian licences to Desert
Minerals (UK) Ltd.(nine licences) and TransAfrican Minerals Limited
(eight licences). Helio continues to pursue joint venture partners for
its other projects in Namibia, Botswana and Mozambique.
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�
�Chris MacKenzie�
Richard D. Williams,
P.Geo
Christopher J. MacKenzie, C.Geol.
CEO
COO
The TSX Venture Exchange has
not reviewed and does not accept responsibility for the adequacy or
accuracy of this release.
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