🕐24.08.11 - 18:27 Uhr
HELIO REPORTS FIRST RC DRILL RESULTS FROM THE GOLD KOP TARGET, DAMARA GOLD PROJECT, NAMIBIA
Helio_LOGO-[Converted]
Suite 580 - 625 Howe Street
Vancouver, B.C.
Canada V6C 2T6
Toll free: +1 888 955 4728
NEWS RELEASE
HELIO REPORTS FIRST RC DRILL RESULTS FROM THE GOLD KOP TARGET, DAMARA GOLD
PROJECT, NAMIBIA
Bulk tonnage and high grade gold potential identified
14m at 3.1g/t Au, 16m at 1.8g/t Au, 4m at 11.6g/t Au, 2m at 14.6g/t Au
Multiple mineralized sections in zones up to 250m wide
TSX-V Trading Symbol: HRC Toll Free: +1
888 955 4728
E-mail: Website:
www.helioresource.com
Vancouver, August 24, 2011
Helio Resource Corp (TSX-V: HRC) is pleased to report the first results
from a recently completed RC drill programme on the Gold Kop target, at the
Damara Gold Project in central Namibia.
Highlights
* Mineralised zones up to 250m wide;
* Similar in style to AngloGold Ashantis Navachab Gold Mine
(resource of 5.1 Moz at 1.15g/t Au);
* Gold mineralisation extended over a 500m strike length (open to
north and south);
* Individual intercepts up to 14m grading 3.1g/t Au, 16m at 1.8g/t
Au, and 4m at 11.6g/t Au;
* Gold mineralisation located at the geological contact between
dolomitic and calcitic marbles;
* The geological contact / target horizon is associated with a 4km+
long gold-in-soil anomaly;
* The Gold Kop target horizon can be traced for another 20km within
the Damara Gold Project area and has never been explored previously;
* Drilling has focused on the near surface (<50m deep) mineralisation;
* Mineralisation is open to depth.
The exploration target at Gold Kop is for Navachab-style carbonate-hosted
gold mineralisation.
The Navachab gold mine, operated by Anglogold
Ashanti, is located 50km southwest of Gold Kop, has been in production
since 1989, and currently has non-NI43-101 compliant resources of 5.1
million ounces grading 1.15g/t Au.
The Gold Kop target geology is similar to that at Navachab, and comprises a
large area of folded dolomitic marble in contact with calcitic marbles.
These marbles are associated with multiple large magnetic and IP anomalies,
as well as a 4km+ gold-in soil anomaly.
The drilling results reported are from the first 52 holes (2,740m) of
shallow reconnaissance RC drilling (most holes ended at 50m vertical
depth).
The RC drill programme was designed to test a 1,500m strike section over
the Gold Kop target.
RC fence lines were oriented E-W across strike every
200m.
The results, from the first three fence lines, covering a 600m section of
Gold Kop, include:
Hole ID
>From (m)
Width (m)
Grade (g/t Au)
OJR 12
4
26.0
0.5
OJR 13
30
4.0
11.6
OJR 14
24
8.0
1.9
OJR 26*
0
50.0*
0.6*
OJR 34
6
38.0
0.8
Including
8
8.0
3.1
OJR 50
44
16.0
1.8
Including
52
6.0
3.7
OJR 51
2
14.0
3.1
Including
14
2.0
14.6
OJR 52
0
88.0
0.4
Inc.
42
12.0
1.5
* - drill hole ended in mineralisation - intercept is open to depth
Initial geological studies indicate that most of the mineralisation occurs
within a dolomitic marble and at the contacts between the dolomite with
calcitic marble units, although certain intrusive dykes are also well-
mineralised.
A complete table of intercepts from these holes is presented
on the company website (www.helioresource.com) and will also be presented
on www.corebox.net.
Map 1, below, shows the location of the Gold Kop target in relation to
AngloGold Ashantis Navachab mine, the extent of the prospective geology
within Helios licences, and the location of this drilling.
Map 2 is a plan view of the Gold Kop target, showing the geology, the
location of the RC drill fences, the outlines of the large mineralised
envelope, and the locations of the higher grade gold intercepts.
Line 3 is
located 100m south of OJD1 (see news release dated June 13, 2011), which
intersected 50m grading 2.1g/t Au, 0.8% Cu, and 14g/t Ag.
It is important
to note that the intersect in OJD 1 occurs between 51m to 101m and
demonstrates continuity of mineralisation to depth and is below the end of
hole depths of the majority of the RC drilling.
This batch of RC drill
results returned a maximum silver intercept of 2m grading 43g/t Ag from 14m
in OJR51, and the maximum copper grade was 2m grading 0.37% in OJR52.
These holes were drilled parallel to and 15m either side of OJD1.
The high
grade Au-Cu-Ag reported in OJD1 needs further follow-up.
It is suspected
that the OJD1 intersected a plunging shoot of semi-massive to massive
sulphide mineralisation (similar to the main ore host at Navachab), and
more drilling is required to confirm the orientation and continuity of this
shoot.
Map 3 is a cross section along Line 3, showing the outline of the 250m wide
mineralised zone as well as the internal zones of mineralisation.
It is thought that the mineralisation intercepted in OJR34 (8m grading
3.1g/t Au), OJR50 (6m @ 3.7g/t Au) and in OJD1 (7m @ 9.0g/t Au) are the
same zone.
This would demonstrate a strike length for this higher-grade
zone of at least 120m, open along strike and to depth.
These drill results, which demonstrate the presence of large volumes of
mineralised material, with higher-grade zones occurring within the
disseminated material, suggest a large mineralised system is present.
Only
a fraction of the available strike length of the folded dolomitic horizon
has been tested to date (1.5km of a currently mapped total of 8.5km).
Numerous fold hinges, which appear to focus the higher-grade
mineralisation, remain to be tested.
Samples from the other RC fence lines have all been submitted to the
laboratory for analysis, and results are expected within the next month.
In addition, a further 9 diamond drill holes have also been completed at
the Gold Kop target and are currently being processed.
Results will be
reported upon receipt.
Assay Turn Around Time
The company has had to contend with the slow turn-around time of sample
results, due in various part to poor QA/QC compliance from one laboratory,
export issues, and the general volume of samples sent to laboratories.
This is an issue for many exploration companies.
Current Drilling Update
The first pass RC drilling at the Gold Kop Target is complete - further
drilling will be planned once all outstanding RC and diamond drilling
results have been received.
An RC drill rig is being mobilised to the Leatherman target, located
approximately 30km due south of Gold Kop (see Map 1).
Leatherman comprises
two sub-parallel gold-in-soil anomalies (soil samples up to 3,700ppb Au)
that cover a combined strike length of 1.8km, it is open to the east, has
channel samples up to 5m grading 11.3g/t Au, and has never been drilled
(see news release dated April 6, 2011).
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 AGAs Navachab Mine to the southwest and Auryx
Gold 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).
Auryxs Otjikoto Gold Project, located approximately 150km northeast of
Helios 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 total of 1.5 Moz at a 0.8g/t cut-off.
The 6,000m drill programme, which is the first time the Gold Kop anomaly
has been systematically drilled, is part of the 10,000m of drilling
programme outlined for the DGP in 2011 (see Companys news release dated
January 13, 2011).
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 Damara Gold Project
in Namibia.
In November 2010, Helio released an encouraging initial resource estimate
for the SMP: Measured and Indicated Resource of 588,749 ounces (11.82Mt
grading 1.54g/t Au) plus an Inferred Resource of 352,354 ounces (9.9Mt
grading 1.10g/t Au) at a cut off grade of 0.3g/t Au.
Chris MacKenzie, M.Sc., C.Geol., Helios COO and a Qualified Person as
designated by NI 43-101, is based in Namibia and supervises the exploration
at Helios projects, including the sampling and quality assurance /
quality control (QA-QC) programmes, and has reviewed and approved the
contents of this news release.
The vast majority of the RC holes were
drilled east or west at -50.
Intercepts are reported as drilled widths;
more drilling is required to determine true widths.
Holes were
continuously sampled using 2m composites from a rotary cyclone splitter.
Reference material has been retained.
All samples were submitted to the
lab with internal QA/QC checks including the use of standards, blanks and
duplicates (ave.
1 of each every 25 samples).
Samples were assayed at the
Intertek Genalysis Laboratory in Johannesburg, South Africa by 50g fire
assay for gold, and by Atomic Absorption for Copper and Silver.
As well as
the Companys internal QA/QC programme, Intertek Genalysis also applied
their own internal QA/QC programme, consisting of insertion of standards
and duplicates.
Weighted average intercepts are calculated using a 0.5g/t
Au cut-off and may include some mineralised waste.
For additional information, please contact Richard Williams or Irene
Dorsman at +1 604 638 8007 or by e-mail to
or
.
ON BEHALF OF THE BOARD OF DIRECTORS
Richard D.
Williams Chris
MacKenzie
Richard D.
Williams, P.Geo Christopher J.
MacKenzie, C.Geol.
CEO 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
PR 22aug11 Map1
PR 22aug11 Map2
PR 22aug11 Section
Kennedy Kirk
Investor Relations
cid:
580 - 625 Howe Street
Vancouver B.C., V6C 2T6
Canada
Cell.: +1 (604) 649 5707
Direct: +1 (604) 638 8007
Fax: +1 (604) 638 8011
BB: 23A17FE9
Toll Free: 1-888-955-HRCV(4728)
www.helioresource.com
Link to our corporate presentation -
http://www.helioresource.com/i/pdf/HRC_Corp._Presentation.pdf