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Includes 27.4m
grading 2.2g/t Au and 11.4m grading 2.3g/t Au
Third drill rig added to the programme
Helio Resource Corp. ("Helio" or the "Company")
(TSX-V: HRC) is pleased to report further diamond drill results from the Kenge
target. These form part of the ongoing 20,000m+ drill programme at
the SMP Gold Project, SW Tanzania. In addition a third diamond drill rig
has been added to the current drill programme.
Results have been received for 19 holes drilled at the Main, SW and
Mbenge zones of the Kenge target (Note: the Mbenge zone has been
incorporated into the Kenge Target). All holes except SZD-87 intersected
the targeted gold mineralisation. Intersections for holes SZD-89 and
SZD-92 are incomplete due to significant core loss within the mineralised
zone, and these holes will be re-drilled. Significant intercepts include:
- 27.4m @ 2.2g/t Au from
39.5m in SZD-102 -- Mbenge Zone
- 11.4m @ 2.3g/t Au from
21.5m in SZD-101 -- Mbenge Zone
- 16.5m @ 1.2g/t Au from
102m in SZD-97 -- SE Zone
- 2.1m @ 6.8g/t Au (open)
from 43.6m in SZD-92 -- Main Zone
- 1.2m @ 15.1g/t Au from
171.6m in SZD-86 -- Main Zone
An updated long section of
results from the Mbenge zone, together with revised tables of drill
locations and hole intercepts from the whole of the SMP project, has been
posted on the Company's web site at www.helioresource.com.
These drill results, together with recent structural mapping by
consultants, has helped to define a new structural model for the Kenge
target, which covers the NW, Main, SE, Mbenge and Snakebite zones. The
new structural model has highlighted a number of areas for priority
drilling in order to add to the resource potential of the Kenge target:
including the definition of a robust higher-grade shoot in the Main Zone
which remains open to depth and along strike to the SE. This will be the
focus for the next phase of drilling on Kenge.
Drilling is ongoing at the Kenge target and a resource statement should
be published before the end of 2008. Drilling is also ongoing at the
Porcupine target.
ABOUT THE SMP GOLD PROJECT
Helio, through its 100% owned subsidiary BAFEX Tanzania Ltd., 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 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 late 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 22.m grading 6.9g/t gold and
39.2m @ 2.6g/t Au (Company press releases dated May 23, 2007 and March
25, 2008). Other significant intercepts include 42.3m @ 4.0g/t Au from
the Porcupine target (Company press release dated June 23, 2008).
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 either -48?
and -70? and were drilled perpendicular towards the main structural
trend. Unless otherwise stated intercepts are reported as drilled widths;
true widths are thought to be between 80 and 95% of drilled 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. Weighted average grades are calculated between the upper- 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.
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.
Click to enlarge
Click to enlarge
ON BEHALF OF THE BOARD OF DIRECTORS
HELIO RESOURCE CORP
"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.
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