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Toll free: +1 888 955 4728 info@helioresource.com
NEWS RELEASE Helio's Latest Drill Results Discover Multiple Zones of Mineralisation at the Konokono Target, SMP Gold Project, Tanzania Vancouver, January 17, 2012
Helio Resource Corp (TSX-V: HRC) is pleased to report the
final results from the 2011
RC drill programme at the SMP Gold Project in Tanzania.
Results are from the Konokono Target, and confirm the
presence of multiple new zones of mineralisation which are
open in all directions. Previous drilling of the Konokono
Target intersected grades up to 13m @ 3.7g/t Au (see Company
press release dated February 23, 2009).
Highlights
• Discovery of new, very wide zones of low grade mineralisation, indicating excellent bulk tonnage potential;
o SER36 - 72m grading 0.5g/t Au
o SER37 - 112m grading 0.5g/t Au;
• Intersection of narrower, high grade zones;
o SER22 - 4m grading 11.2g/t Au
o SER36 - 8m grading 3.2g/t Au
• Mineralisation appears to be continuous through to the
Kipanga Target (southwest to the Konokono Target), extending
the strike length of mineralisation to 1,700m;
• Mineralisation is open along strike and to depth.
The 2011 drilling was intended to infill and extend the known
mineralisation at Konokono. A total of 29 RC drill holes
(SER9-SSR37 - 2,670m) were drilled on six drill fence lines
200-300m apart, covering an east-west strike length of
1,200m. Mineralisation is also open to the north on the
easternmost drill fence - a historical drillhole collar
drilled by AngloGold Ashanti (AGA) in the late 1990's,
located some 150m north of Helio's drilling. This indicates
the potential for the Konokono target to contain two parallel
NE-trending zones, approximately 100-150m apart, each with a
strike length of 500-1,000m.
Further drilling to convert the mineralisation to NI 43-101
compliant resources is planned for 2012.
The Konokono Target is located along the Saza Shear Zone
between the Kenge and Porcupine Targets (see Map 1 below).
The area is characterised by the intersection of numerous NE,
ENE and NW trending structures, which are similar to the
structures controlling the mineralisation at both Kenge and
Porcupine.
Gold Mineralisation at Konokono is associated with multiple
quartz veins and disseminated pyrite hosted within
sericite-altered, granitic host rocks.
Mineralised intercepts are documented below
Hole | From | Length | Grade Au (g/t) | Comment |
SER11 | 6 | 8 | 0.7 | |
SER21 | 70 | 2 | 0.7 | |
SER22 | 60 | 4 | 11.2 | |
SER23 | 52 | 2 | 0.5 | |
SER25 | 58 | 4 | 0.7 | |
SER33 | 16 | 2 | 2.0 | |
SER36 | 20 | 72 | 0.5 | |
incl. | 34 | 8 | 3.2 | |
and | 54 | 2 | 1.1 | |
SER37 | 24 | 112 | 0.5 | 0.3 COG |
incl. | 30 | 44 | 0.7 | |
and | 104 | 12 | 1.0 | |
and | 160 | 2 | 2.1 |
The results of the drilling are available on the Company's website www.helioresource.comand at www.corebox.net.
About the SMP Gold Project
The SMP Gold Project covers an area of 238km2.
Gold mineralisation has been identified in 30 targets within
the project area. Two of these targets, Porcupine and Kenge,
have been advanced to the resource stage and both, especially
Porcupine, still have potential to grow significantly. 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.
Mineralisation at all 30 targets outcrops at surface, and
varies from narrow, high-grade gold mineralisation hosted in
quartz veins and shear zones, to wide zones (up to 110m+ in
width) of lower grade, bulk mineable / open pittable
mineralisation.
Helio owns a 100% interest in four of five licences, subject
to a 2% NSR to the vendors
(Tanzanian small mining companies), and the Company is in the
process of earning a
100% interest in the fifth licence.
Chris MacKenzie, M.Sc., C.Geol., Helio's COO and a Qualified
Person as designated by NI 43-101, supervises the exploration
at the SMP project, including the sampling and quality
assurance / quality control programmes, and has reviewed and
approved the contents of this news release. Intercepts are
reported as drilled widths, more drilling is required to
confirm true widths. Continuous 2m composite samples were
taken from all holes. A reference sample was retained on
site. All samples were submitted to the lab with internal
QA/QC checks including the use of blanks and standards (ave.
1 every 17 samples) and duplicates (ave. 1 every 25 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 intercepts are calculated using
a 0.5g/t Au cut-off, unless otherwise stated and may include
some mineralised waste. Any individual assays over 20g/t Au
are highlighted.
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" "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.
Plan Map - SMP Gold Project, Tanzania
distribué par | Ce noodl a été diffusé par Helio Resource Corp. et initialement mise en ligne sur le site http://www.helioresource.com. La version originale est disponible ici. Ce noodl a été distribué par noodls dans son format d'origine et sans modification sur 2012-01-17 16:39:27 PM et restera accessible depuis ce lien permanent. Cette annonce est protégée par les règles du droit d'auteur et toute autre loi applicable, et son propriétaire est seul responsable de sa véracité et de son originalité. |
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