TSX-V Trading Symbol: HRC
Toll Free: +1 888 955 4728
E-mail: info@helioresource.com
Website: www.helioresource.com
VANCOUVER , April 11, 2014 /CNW/ - Helio Resource Corp. (HRC.V),
("Helio" or the "Company") is pleased to announce that licence PL2580,
which covers the Kenge Resource Area on the SMP Gold Project, has been
converted into a Retention Licence (for location of the licence refer
to link presented here: http://www.helioresource.com). The Company was notified of the conversion by way of a letter from
the Ministry of Energy and Minerals of the United Republic of Tanzania
dated March 21, 2014 .
A Retention Licence ("RL") is the stepping stone between a Prospecting
Licence and a Mining Licence. The RL is valid for a period of 5 years
and allows the Company to advance the project to a production decision.
Richard Williams , CEO of Helio, confirmed that this is a major milestone
for the Company as it provides security of tenure through the
pre-feasibility / feasibility state for the project. "It allows the
Company to commit resources to the development of the SMP Project,
knowing that the Tanzanian government is fully supportive of our
activities to date. Shareholders can feel confident the licence process
works", he said.
This is a positive development for the region, which currently has one
gold mine in production. Shanta Gold , a UK listed gold miner,
commissioned the New Luika Mine in 2012, and produced 64,000 ounces of
gold in 2013. Guidance for 2014 is for production of 80,000 ounces of
gold at a cash cost of $750 / ounce. The New Luika mine is located 5km
west of the Kenge Resource Area (refer to map presented in the link
here: http://www.helioresource.com).
Chris MacKenzie , M.Sc., C.Geol., Helio's COO and a Qualified Person as
designated by NI 43-101, has reviewed and approved the contents of this
news release.
About the SMP Gold Project
The SMP Gold Project covers a 238km2 area in the Lupa Goldfield, SW Tanzania .
On February 3, 2014 the Company released a new resource calculation from
the Kenge and Porcupine Resource Areas, which focused on the higher
grade aspect of the project. At a 1g/t cut off, the Resource reported
9.45Mt grading 2.1g/t gold (627,000 ounces) in the Indicated category
and a further 3.62Mt grading 1.5g/t gold Inferred (180,000 ounces). The
resource work also looked at the potential for higher grade ounces with
potential for underground mining - at a 3g/t cut-off the Indicated
Resource reported 2.05Mt grading 5g/t gold (332,000 ounces) and 0.09Mt
grading 5.21g/t Au Inferred (16,000 ounces).
Metallurgical testwork indicated recoveries of up to 96% using a gravity
and cyanidation process - see http://www.helioresource.com/s/TechnicalReports.asp for all technical reports.
About Helio Resource Corp.
Helio Resource Corp. is a resource company focused on advancing the 100%
owned SMP Gold Project in Tanzania to a production decision, and
outlining the resource potential at the DGP Gold and Tin Project in
Namibia .
ON BEHALF OF THE BOARD OF DIRECTORS HELIO
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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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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.
Statements Regarding Forward-Looking Information
Certain statements contained in this news release may contain
forward-looking information within the meaning of Canadian securities
laws. Such forward-looking information is identified by words such as
"estimates", "intends", "expects", "believes", "may", "will" and
include, without limitation, statements regarding the company's plan of
business operations (including plans for progressing assets), estimates
regarding mineral resources, projections regarding mineralization and
projected expenditures. There can be no assurance that such statements
will prove to be accurate; actual results and future events could
differ materially from such statements. Factors that could cause actual
results to differ materially include, among others, metal prices, risks
inherent in the mining industry, financing risks, labour risks,
uncertainty of mineral resource estimates, equipment and supply risks,
title disputes, regulatory risks and environmental concerns. Most of
these factors are outside the control of the company. Investors are
cautioned not to put undue reliance on forward-looking information.
Except as otherwise required by applicable securities statutes or
regulation, the company expressly disclaims any intent or obligation to
update publicly forward-looking information, whether as a result of new
information, future events or otherwise.
SOURCE Helio Resource Corp.