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- 19.65m @ 3.02g/t Au and 24.29m @
2.80g/t Au AT KENGE
- NEW GOLD ZONE DRILLED AT KIPANGA
-- 8m @ 1.44g/t Au
- DRILLING RESUMES - 20,000m+
PLANNED FOR 2008
January 31, 2008
Helio Resource Corp. (the "Company") (TSX-V: HRC) is pleased to
report the balance of outstanding results from the 2007 diamond and RC
drill programmes at the Company's SMP Gold Project, SW Tanzania.
The SMP Gold Project covers ~27km of the strike length of the Saza Shear
Zone, the main gold-bearing structure in the Lupa Goldfields.
The drilling included two areas, namely the Kenge Target and the Kipanga
Target. Highlights from this batch of drill results include:
- 19.65m at 3.02g/t gold in
SZD69 Kenge Main Zone
- 24.29m at 2.80g/t gold in
SZD70 Kenge Main Zone
- 8m at 1.44g/t gold in
SZR82 Kipanga - New Discovery
KENGE
The latest drill results from Kenge provide further confirmation of the
presence of three mineralised centres along the 2km long Kenge Shear
Zone, namely the NW Zone, the Main Zone, and the SE Zone. The three mineralised
zones have an aggregate strike length of ~ 1,350m. It is possible that
the Main Zone and the NW Zone are contiguous -- more drilling is planned
to confirm this. The deepest drill hole at the Kenge Target intersected
the widest zone of mineralisation recorded to date (39m @1.3g/t Au in
SZD40) and mineralisation at all three zones is open to depth.
Thirteen holes from the Kenge Target are reported herein. A table of all
of the significant drill intercepts to date from the whole of the SMP has
been posted on the company's web site at www.helioresource.com.
Updated Long Sections are also posted below.
KIPANGA
The Kipanga target is a major IP anomaly and is located on the Saza Shear
Zone, between the Mbenge and Konokono targets (see news releases dated
October 29, 2007 and November 6, 2006, respectively).
At Kipanga, RC hole SZR82 intersected 8m grading 1.44g/t gold from 48m,
and a second mineralised zone (18m grading 0.42g/t Au from 8m). The
nearest drill hole along strike is 1.4km to the east at Konokono: SZR25,
which intersected 18m grading 2.44g/t gold from 18m and 2m grading
11.4g/t gold from 74m. The Mbenge target, where hole SZR52 intersected
24m grading 1.14g/t Au, is located 1.9km west of Kipanga (Company news
release dated October 29, 2007). Please refer to the SMP Plan map posted
below.
DRILLING UPDATE - 20,000m PLANNED FOR 2008
The Company has two diamond drill rigs on site at the SMP Gold Project at
present. One rig is currently drilling at the Mbenge Target, which
is parallel to, and only 450m NE of the Kenge Target SE Zone. Five
holes are planned at the Mbenge Target, following up drill-hole SZR52
(24m grading 1.14g/t Au). This type of intercept compares very favourably
with the initial RC drill results from the Kenge Target (Company press
release dated September 6, 2006). On completion of the short drill
programme at Mbenge, the drill rig will be moved to the Kenge Target to
continue outlining the resource potential there.
The second drill is expected to be operational within the next two weeks
and will initially focus on working towards a resource calculation at the
Kenge Target.
Once all-weather access has been established, one of the drill rigs will
be re-located to the Porcupine Target. The Porcupine Target is a
brand new discovery, which outcrops over a 1,000m strike length, and has
only one drill hole completed to date, which intersected 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.
Since June 2006, the Company has drill tested thirteen targets,
eleven of which are hosted by the Saza Shear Zone. All thirteen
targets have returned positive 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).
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 between -48�
and -70� and drilled perpendicular towards the main structural trend.
Core was halved with a rock saw and samples averaging 1.2 - 1.5m were
submitted to the lab (with a duplicate half being retained). RC samples
were riffle-split into 2m composites and a duplicate sample was 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.
Mineralised intercepts are reported as drilled widths, which range from
70% to 90% of true widths. 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 9 of its Namibian licences to Desert Minerals (UK) Ltd. Helio
continues to pursue joint venture partners for its other projects in
Namibia, Botswana and Mozambique and to assess new opportunities in
southern Africa.
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
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"Richard
D. Williams"
Richard D. Williams, P.Geo
CEO
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"Chris
MacKenzie"
Christopher J. MacKenzie, C.Geol.
COO
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The TSX Venture Exchange has not
reviewed and does not accept responsibility for the adequacy or accuracy
of this release.
Click to
Enlarge
SMP Plan Map
SMP Long Section Main Zone -- Kenge
Structure
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