| | Published : March 21st, 2007 | reports more well-mineralised drill intercepts at the SMP gold project, Tanzania |
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Wed March 21, 2007
Helio Reports More Well-Mineralised Drill
Intercepts At The SMP Gold Project, Tanzania
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Helio Resource Corp. (“Helio” or the “Company”)
(TSX-V: HRC) is pleased to report results from seven drill
holes from the ongoing diamond drill programme at the
past-producing SMP gold project in Tanzania. These results
continue to support Management’s view of the excellent
resource potential in the SMP project area.
Drilling has concentrated on the Snakebite and Kenge
targets, where Helio has previously reported significant drill
intercepts including 8m grading 20.77g/t Au (Snakebite) and
20.26m grading 3.08g/t Au (Kenge) (see Company press release
dated January 8, 2007). Helio controls a 27km long section of
the known gold belt: the Snakebite and Kenge targets
are located along the westernmost 4km of the belt.
Of
the seven holes reported here, the most significant intercepts
include:
- 1.74m @ 16.0g/t Au in hole SZD-06 at Snakebite
- 7.5m @ 4.01g/t Au in hole SZD-09 at Kenge
- 20.47m @ 2.99g/t Au in hole SZD-11 at
Kenge
Table of significant drill
intercepts.
Hole |
Target |
From (m) |
Length (m)* |
Au (ppm) |
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|
|
SZD-06 |
Snakebite |
68.0 |
7.9 |
3.8 |
including |
|
69.68 |
1.74 |
16.0 |
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SZD-07 |
Kenge |
11.0 |
39.0 |
0.54 |
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|
|
SZD-08 |
Kenge |
181.5 |
13.75 |
0.92 |
Including |
|
181.5 |
7.26 |
1.45 |
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|
|
|
|
SZD-09 |
Kenge |
101.0 |
7.50 |
4.01 |
|
|
|
|
|
SZD-11 |
Kenge |
63.0 |
20.47 |
2.99 |
Including
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80.06 |
1.98 |
8.82 |
Snakebite
Drilling
Holes SZD-05 and -06 were drilled on the
Snakebite target. The Snakebite target is located along the
Saza Shear Zone (SSZ) which hosted the New Saza Mine 1 and 2
shafts, the Gap Mine and the Kwaheri Mine, all colonial-era
operations. Saza 2 shaft is located 1.7km away on strike to
the WSW from Snakebite.
SZD-06 was drilled towards a
NW dipping structure and intercepted a high-grade zone of
1.74m grading 16g/t Au within a broader zone of mineralisation
(3.8g/t Au over 7.9m). This intercept is approximately 250m
on-strike to the NE of hole SZR-15 which returned 8m grading
20.77g/t Au (Company press release dated November 6, 2006).
Hole SZD-05 was collared 100m NW of, and drilled
towards, hole -06. The hole was planned to test for
mineralised structures in the hanging-wall of the main SSZ
target at Snakebite. It intercepted a number of low-grade
mineralized intercepts, the best of which was 1.37m grading
1.04g/t from 77.65m.
To date three drill holes have
tested the main gold bearing structure at Snakebite over a
400m strike length. Their results are shown on the attached
plan map. Mineralisation is open to the west and east and
there is no drilling between the Snakebite and the Cheche
(which hosts the Saza Mine No. 2 Shaft) targets.
Kenge Drilling
At the Kenge target,
drilling has focussed on testing the lateral- and down-dip
continuity of the mineralised zone intersected in hole SZD-02
(20.26m grading 3.08g/t Au: Company press release dated
January 8, 2007).
The Kenge Shear Zone (KSZ) hosts the
colonial-era Razorback mine. Mineralisation is associated with
a 2km long NW-SE striking structure, which dips moderately to
steeply SE.
Holes -02, -07 and -08 were all drilled on
the same section line, perpendicular to the strike of the KSZ.
Drilling on this section (29700E) demonstrates the down-dip
continuity of the mineralised zone over a 200 metres distance
and is open to depth, as shown on the attached section.
Hole SZD-11 was drilled 50m away on-strike to the SE
of SZD-02, and intercepted 20.47m grading 2.99g/t Au. Hole
SZD-09 was drilled 50m away on-strike to the NW of SZD-02 and
intercepted 7.5m grading 4.01g/t Au. These results confirm the
lateral continuity of mineralisation along a 100m strike
section of the Kenge Structure which, based on surface mapping, is continuous over 2 kilometres. Sections for these
holes are presented below.
Hole SZD-04 was collared in
the footwall of the KSZ, to the north of the mapped structure,
and was drilled to test for parallel zones to the main structure. The hole failed to intersect any mineralisation.
Assay results from the mineralised zone in hole SZD-10
which was drilled on section from SZD-11 have not yet been
received.
A plan map showing collar locations and
results to date, together with a long-section and
cross-sections of the drill intercepts at Kenge, are shown
below and on the Company’s website at www.helioresource.com.
Drilling is ongoing, and is currently focused on
outlining the resource potential over the 2km strike length of
the Kenge target.
Chris MacKenzie, M.Sc., C.Geol.,
Helio’s COO and a Qualified Person as designated by NI 43-101,
supervised the sampling and quality assurance / quality
control programmes at Saza, and has reviewed the contents of
this news release. Drill holes are oriented at -60� and are
drilled perpendicular to the mapped structural trends. Selected samples were prepared from average core lengths
varying between 1 and 3m. Core was halved with a core saw, one
half was submitted to laboratory and the other half retained.
QA/QC includes the use of blanks and standards (1 every 18
samples) and duplicates (1 every 29 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.
Mineralised intercepts are reported as drilled widths. Weighted average intercepts are calculated between the uppermost and lowermost samples exceeding a 0.5g/t cut-off
within the confines of main mineralised zone.
Helio
Resource Corp., based in Windhoek, Namibia, is one of Southern
Africa’s leading exploration companies, specializing in
project generation. Helio is actively exploring 18 prospective
gold, base-metal and diamond properties in Namibia, Botswana,
Mozambique and Tanzania. As part of its strategic approach to
project development, Helio has worked in partnership with
firms such as Teck Cominco, Boulder Mining, Indicator
Minerals, and Yale Resources to advance a number of its
projects. Helio is focusing on progressing the SMP project in
Tanzania.
For additional information, please contact
Richard Williams or Irene Dorsman at (604) 668 8363 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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this message and mention “unsubscribe” in the subject line.
Thank you. |
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