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Helio Resource Corp.
Helio Resource Corp.
02/06/2012 | Press release
Helio Reports Drill Results from DGP Gold Project, Namibia, including 4m at 8.2g/t Au, 8m at 3.2g/t Au, 6m at 2.9g/t Au, and 6m at 2.7g/t Au
distributed by noodls on 02/06/2012 09:33
Suite 580 - 625 Howe Street Vancouver, B.C. Canada V6C 2T6
Toll free: +1 888 955 4728 info@helioresource.com
NEWS RELEASE
Helio Reports Drill Results from DGP Gold Project, Namibia, including 4m at 8.2g/t Au, 8m at 3.2g/t Au, 6m at 2.9g/t Au, and 6m at 2.7g/t Au
Vancouver, February 6, 2012
Helio Resource Corp (TSX-V: HRC) is pleased to report the final results from the 2011 drill programmes on the Gold Kop and Leatherman Targets, DGP Gold Project in Namibia.
Gold Kop Target Highlights
• 12 Reverse Circulation (RC) drill holes completed in
December, totalling 1,536m.
Six drill holes failed to reach the target depth due to
ground water ingress. Two holes ended in mineralisation and
need to be extended to determine the full width of the
mineralised zones.
• Significant intercepts up to 4m at 8.2g/t Au, 8m at 3.2g/t
Au, 6m at 2.7g/t Au, and two zones grading 2.9g/t Au over
6m.
• RC drilling at Gold Kop was primarily designed to test the
depth potential of gold mineralisation intersected in a
previous shallow (50m) RC drill programme (see news release
dated November 15, 2011) and to extend older RC drill holes
that did not reach target depth.
• Hole OJR122 intersected two zones of mineralisation,
including a high-grade zone (4m at 8.2g/t Au), and ended in
the target dolomitic unit at 220m due to lack of drill rods.
This demonstrates the depth potential of the prospective host
horizon.
• The extension of OJR16 (previously only 50m long, with no
significant gold values) to 104m is considered very
significant since it is targeted under well mineralised holes
on RC Line 2 (4m at 11.6g/t Au and 8m at 1.9g/t Au), and
indicates good continuity of mineralisation ANDthickening of
the mineralised zone to depth. Mineralisation is still open
to depth because the hole stopped in mineralisation due to
water ingress. A section showing the new intercepts on Line 2
is shown below.
• RC drilling is planned to re-commence in late February /
early March.
Gold Kop Target Drilling
In late 2011, the company completed a 12 hole RC drill
programme, consisting of extending two existing holes (OJR16
and OJR91) and ten new holes (OJR121 to OJR131). The holes
were drilled over a 950m strike length of the main
prospective dolomite marble horizon, which has recorded
grades of up to 50m grading 2.1g/t Au,
0.8%Cu, and 14g/t Ag in previous RC and Diamond Drilling (DD)
programmes
completed by the company during 2011. The aim of the holes
was to test the down-dip potential of the Gold Kop Target,
which had previously been drilled to shallow depths.
In some cases the holes ended in mineralisation and will need
to be extended by diamond drilling to confirm the true
thickness of the mineralisation.
Results from the drilling are detailed below
|
Hole No. |
From (m) |
Length (m) |
Au (ppm) |
Ag (ppm) |
Cu (%) |
Comment |
|
OJR16 |
51 |
27 |
1.1 |
* |
||
|
incl. |
66 |
8 |
3.2 |
|||
|
OJR16 |
98 |
6 |
2.7 |
Open -‐ water |
||
|
OJR122 |
36 |
4 |
8.2 |
|||
|
OJR122 |
152 |
6 |
1.0 |
|||
|
OJR123 |
94 |
32 |
0.3 |
*Open - water |
||
|
OJR125 |
10 |
12 |
0.7 |
|||
|
And |
64 |
4 |
0.6 |
|||
|
And |
82 |
4 |
0.5 |
18.5 |
1.0 |
|
|
OJR126 |
56 |
12 |
1.1 |
3.1 |
||
|
And |
80 |
6 |
2.9 |
|||
|
OJR127 |
4 |
4 |
0.5 |
|||
|
And |
60 |
4 |
0.5 |
|||
|
And |
70 |
2 |
0.6 |
|||
|
OJR128 |
30 |
6 |
2.9 |
13.3 |
||
|
And |
86 |
6 |
1.6 |
|||
|
And |
128 |
4 |
1.0 |
* - 0.3g/t Au cut off.
Hole OJR16 was drilled at -50 degrees to the west. Holes
OJR125-OJR127 were drilled at -50 degrees northwards. OJR122
was drilled at -88 degrees northwards and the remaining holes
were drilled at -50 degrees to the NW.
Hole OJR123 hit the mineralised zone at depth, but was also
stopped in mineralisation due to water ingress. Holes OJR124,
127, 128, 129, 130, and 131 likewise did not hit the targeted
dolomite - calc marble contact which usually hosts the
higher-grade mineralisation. Hole 125 hit a number of
mineralised zones, including 4m grading 1% Cu, 18.5g/t Ag and
0.5g/t Au. This zone is located some 50m to the SSE of the
gossan
zone in hole OJD9, which intercepted 18m grading 1.0g/t Au,
7,5g.t Ag and 0.14% Cu
(see Company press release dated November 28, 2011).
Extension of the holes which either stopped in mineralisation
or did not reach the target horizon is planned in the future,
to coincide with a more focussed programme to expand on the
resource potential of the Gold Kop Target and to test newly
discovered zones of anomalous geochemistry and geophysics on
the same target (see Company press release dated January 23,
2012).
Leatherman Drilling
In late 2011, the company drilled twelve RC holes (for 1,386m) on the Leatherman gold- in-soil anomaly (see Company press releases dated April 6, 2011). The best zone discovered included 2m @ 9.4g/t Au in hole WIR5. All significant intercepts are shown below:
|
Hole No. |
From (m) |
Length (m) |
Au (ppm) |
|
WIR1 |
28 |
4 |
1.3 |
|
WIR2 |
12 |
2 |
0.6 |
|
WIR4 |
6 |
2 |
0.4 |
|
WIR5 |
34 |
2 |
9.4 |
The company intends to focus its resources on the Gold Kop Target.
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 AngloGold Ashanti's Navachab Mine
to the southwest and
B2Gold'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).
B2Gold's Otjikoto Gold Project, located approximately 150km
northeast of Helio's licences has a NI 43-101 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 Damara 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. Unless otherwise stated, variably oriented
reverse-circulation drill holes were drilled at -50º to -88
º. Intercepts are reported as drilled widths; more drilling
is required to determine true width. DD holes were sampled at
1m to 2m intervals, continuously in the mineralised units,
selectively outside these. RC was sampled using 2m composite
samples. All samples were submitted to the lab with internal
QA/QC checks including the use of standards, blanks, salted
blanks and duplicates (average of 1 QA_QC sample each every
15 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 Company's 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
(unless otherwise stated) and may include some mineralised
waste. Any individual assays over 15g/t Au are stated.
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