Monday, January 23, 2012
Helio Reports Results from a Soil Sampling Survey at the Gold Kop Target, Damara Gold Project, Namibia
Vancouver, January 23, 2012
Helio Resource Corp (TSX-V: HRC) is pleased to report the results of an extensive geochemical (soil sampling) survey over the Gold Kop target, part of the Damara Gold Project in central Namibia.
Highlights
- Three distinct target areas discovered; Gold Kop Main, SE, and NE;
- Over 7km of anomalous geochemistry along the Gold Kop Main trend;
- Identification of 6 new, high-priority, multi-element gold targets at Gold Kop Main;
- Two new anomalies: NW and SE of Gold Kop;
- Gold-in-soil results up to 7.6g/t Au;
- Prospective horizons continue for another 20km+ within Helio's licence.
Gold Kop
Helio has been exploring the Gold Kop target since March 2011, including drill-testing a 1.3km strike length of the main prospective horizon identified to date - a dolomitic marble hosting a combination of wide low-grade zones of mineralisation and narrower zones of high-grade gold mineralisation. Notable drill results include:
- 50m grading 2.1g/t Au, 0.8% Cu and 14g/t Ag;
- 4m at 11.6g/t Au, 38m at 0.8g/t Au, and;
- 1m at 32.9g/t Au (see news releases dated June 13, August 24, and November 15, 2011).
The mineralisation drilled to date shows many similarities to AngloGold Ashanti's (AGA) Navachab Gold Mine, located 40km to the southwest.
In Q4 2011, Helio completed a soil sampling programme covering a 10km2 area over and adjacent to the Gold Kop Target.
4,056 soil samples were collected on lines spaced 100m apart N-S, at a 25m spacing (E-W). The samples (including 52 standards and 82 duplicates) were analysed by 37 element ICP-MS. The soil sampling results have identified three main areas for follow-up (see Map 1):
- Gold Kop Main
- Gold Kop SE
- Gold Kop NW
Gold Kop Main
The geochemical response at Gold Kop Main shows that the target horizon is a folded, dolomitic marble, enriched in magnesium (indicative of tremolite alteration), gold, copper and other elements. The target horizon consists of two limbs of an antiformal structure, which remains open to the SW. The unfolded strike length of the main mineralised horizon at Gold Kop Main is at least 7km long. Helio has confirmed bedrock-gold mineralisation in drilling along a 1.3km-length of this target.
Six substantial new Au�Ag�As�Cu�Fe�Sb�Bi anomalies were detected along the target horizon (see Map 2). Against a threshold of 13ppb Au, a total of 21 samples recorded values greater than 500ppb, 7 being higher than 1,000ppb Au (1g/t Au). The two highest samples recorded values of 7.6g/t Au and 5.8g/t Au, respectively. These samples are 300m apart on the same structure and are located 600-900m SW of drill hole OJR13, which intercepted 4m grading 11.6g/t Au. The samples are within a 1.6km+ long Au+Cu+Ag+As anomaly which is open to the south-west (Target 6).
Target 3 includes a 400m x 300m area centred around the fold hinge with a peak gold value of 894ppb Au.
Drill testing of these areas is planned to commence in Q1, 2012.
Gold Kop SE
The Gold Kop SE target, located approximately 1km SE of Gold Kop Main, is a 1.5km long, NE- to E-trending anomaly defined by elevated copper and magnesium values. At the east end, this anomaly has a 300m long zone with a highly anomalous polymetallic signature close to a granite contact. Peak element concentrations in the soils are 495ppb Au, +1% Cu, 154ppm Mo, 2g/t Ag and 30% Fe, and is also anomalous in other pathfinders such as Sb, Bi, W, As and V. It is under shallow cover and is open in all directions.
No work has ever been conducted in this area. Ground follow-up to identify drill targets will be conducted as soon as possible.
Gold Kop NE
This target is located 2km to the north of the area drilled by Helio in 2011. It is a 1.5km+ long zone of anomalous As�Cu�Fe�Bi�V�Mo geochemistry that appears to be associated with the same folded dolomite target horizon at Gold Kop Main. Gold values are low here, but the rocks are under shallow cover, which appears to mask the gold geochemistry.
Drilling Update
A total of 1,536m of RC drilling (10 new holes, plus extensions to two existing holes) was completed in December 2011. The drilling was planned to identify the depth potential of the Gold Kop target, which has only been drilled at shallow depths to date. Five of the holes stopped before reaching the target dolomite-calc marble contact due to water ingress. Six of the holes intersected the target horizons, including zones with massive sulphide mineralisation. The remaining holes were drilled for geological information peripheral to the target areas. Results from the drilling are expected in February 2012.
The DGP Gold Project
The DGP comprises four licences (covering 318,500ha or 3,185km2), namely Etjo South, Okakango, Wilhelmstal and Otjimbojo. Helio holds a 100% interest in the project through its wholly-owned Namibian subsidiary, BAFEX Exploration (Pty.) Ltd.
The DGP is located between AGA's Navachab Mine to the southwest and B2Gold Corp.'s Otjikoto Project to the northeast.
The Navachab mine has been in production since 1989 and, as of December 2009, has produced approximately 1.5 Moz of gold and has a non-NI 43-101 compliant resource of 5.1 Moz grading 1.15g/t Au (source AngloGold Ashanti Resource Report, 30 June, 2011).
B2 Gold's Otjikoto Gold Project, located approximately 150km northeast of Helio's licences has a NI43-101 indicated resource (February, 2011) of 15.78Mt grading 1.94g/t Au and an inferred resource of 8.37Mt grading 1.94g/t Au for a total of 1.5 Moz at a 0.8g/t cut-off.
About Helio
Helio Resource Corp. is a well-financed gold exploration company focused on increasing the initial NI 43-101 compliant resource at the SMP Gold Project in Tanzania and outlining the resource potential at the DGP Gold Project in Namibia.
In November 2010, Golder Associates (UK) Ltd. provided an initial NI 43-101 compliant resource estimate for the SMP. The restrained estimate at a 0.5g/t Au cut-off reports 498,075 ounces (10.94MT grading 1.41g/t Au) in the Measured and Indicated category, plus 273,847 ounces (7.06MT grading 1.2g/t Au) in the Inferred category.
Chris MacKenzie, M.Sc., C.Geol., Helio's COO and a Qualified Person as designated by NI 43-101, is based in Namibia and supervises the exploration at Helio's projects, including the sampling and quality assurance / quality control (QA-QC) programmes, and has reviewed and approved the contents of this news release. All samples were submitted to the Acme Analytical Laboratories Ltd. facility in Vancouver, Canada. Samples were assayed by the 30g 1DX ICP-MS method. As well as the Company's internal QA/QC programme (standards blanks and duplicates), Acme also applied their own internal QA/QC programme, consisting of standards, blanks and replicates.
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"
Richard D. Williams, P.Geo
CEO |
"Chris MacKenzie"
Christopher J. MacKenzie, C.Geol.
COO |
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
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You can also view this News Release on our website at:
http://www.helioresource.com/s/NewsReleases.asp?ReportID=503297 |
