Helio reports additional diamond drill results from the Gold Kop target, Damara Gold Project, Namibia
6m at 5.3g/t Au and 23g/t Ag
18m at 1.0g/t Au
28m at 1.8g/t Au (incl. 5m at 6g/t)
TSX-V Trading Symbol: HRC
VANCOUVER, Nov. 28, 2011 /PRNewswire/ – Helio Resource Corp (TSX-V: HRC) is
pleased to report final assay results from diamond drilling at the Gold
Kop target, part of the Damara Gold Project in central Namibia. A
total of 5 diamond drill holes (484m) are reported; OJD8 to OJD12.
These holes were all drilled northwards to test the southwards-dipping
dolomite-calc marble contact.
-- Three of the five holes intersected mineralised massive sulphide / gossan at the contact. -- Combination of narrow high-grade zones and wider low-grade gold mineralisation indicative of Navachab-style mineralisation. -- Additional silver mineralisation with grades up to 117g/t. -- Only one of seven targets tested to date.
Holes OJD11, OJD8 and OJD12 were drilled from pads 20m apart on a
section 60m south of OJD1 to test the strike continuity of the
high-grade sulphide mineralisation in OJD1. OJD11, the westernmost
hole, did not intersect the zone. OJD8 intersected some high-grade
mineralisation and OJD12, the easternmost hole drilled through almost
10m of gossan overlain by mineralised dolomite. The gossan had highest
individual grades of 9.9g/t Au, 15g/t Ag and 0.4% Cu over 1m. No
secondary copper minerals were visible and the gossan was heavily
leached but the mineralisation and texture of the zone indicates it is
the same as the massive sulphide intersect in OJD1 (7m @ 9.0g/t Au,
73g/t Ag and 4.4% Cu) with copper and silver being lost through
leaching. The zone appears to be flat-lying, and is open to the south
and east, where no drilling has been done.
Hole OJD9 was drilled 140m SW of OJD1, and drilled through weathered
sulphidised dolomite then a gossan developed on the dolomite-calc
marble contact. This gossan also confirms the presence of massive
sulphides with a Au-Ag-Cu affinity, with individual 1m samples grading
up to 4.3g/t Au, 30g/t Ag and 0.4% Cu. More drilling is required to
confirm continuity of the gossan / massive sulphide mineralisation
towards OJD1 and down dip from OJD9.
Hole OJD10 was drilled 130m SE of OJD1 and drilled through 98m of
dolomite before intersecting a pegmatite dyke. As a result it did not
intercept the dolomite-calc-marble contact which is the main high-grade
target at Gold Kop.
___________________________________________ | Table of drill results | |___________________________________________| |Hole #|From|Length|Au (g/t)|Ag (g/t)|Cu (%)| |______|____|______|________|________|______| | OJD8 | 5 | 41 | 0.4* | | | |______|____|______|________|________|______| | And | 48 | 6 | 5.3 | 23.0 | | |______|____|______|________|________|______| |incl. | 49 | 1 | 25.5 | 117.0 | | |______|____|______|________|________|______| | OJD9 | 9 | 18 | 1.0 | 7.5 | 0.14 | |______|____|______|________|________|______| | And | 31 | 1 | 1.6 | | | |______|____|______|________|________|______| |OJD10 | 15 | 28 | 0.3* | | | |______|____|______|________|________|______| |incl. | 28 | 2 | 2.2 | 22.5 | | |______|____|______|________|________|______| | And | 70 | 3 | 0.6 | | | |______|____|______|________|________|______| |OJD11 | 43 | 1 | 0.6 | | | |______|____|______|________|________|______| | And | 47 | 1 | 0.6 | | | |______|____|______|________|________|______| |OJD12 | 37 | 28 | 1.8 | 5.0 | | |______|____|______|________|________|______| |incl. | 59 | 5 | 6.0 | 11.0 | | |______|____|______|________|________|______|
* 0.3g/t Au cut-off
The Gold Kop Target plan map showing projection of DD intercepts is
presented in the link below:
As previously mentioned, diamond and RC drilling at the Gold Kop target
has so far identified numerous mineralised zones within a very large
alteration zone (see Company press releases dated June 13, August 24,
October 5 and November 15, 2011):
The main mineralised styles identified to date include:
1. Bulk-tonnage disseminated mineralisation hosted by calc-silicate altered dolomite. 2. High-grade massive sulphide / gossan mineralisation (includes Cu+Ag) 3. Auriferous quartz veining discordant to bedding, and 4. Mineralised igneous dykes
The exploration target at Gold Kop is for Navachab-style
carbonate-hosted gold mineralisation. The Navachab gold mine, operated
by AngloGold Ashanti (AGA), 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.
These drill results, together with previously released data, demonstrate
the clear potential of the Gold Kop target to host a very large
mineralised system similar to that present at Navachab. The area drill
tested to date is just one of seven coincident zones of anomalous IP,
magnetics and alteration within the main Gold Kop structural corridor
which covers 4,000m x 1,000m.
A complete list of all the drillholes and intercepts to date is
available on the company website at: http://www.helioresource.com/i/pdf/GoldKop_Target_DGP_Collars_Nov2011.pdf
http://www.helioresource.com/i/pdf/GoldKop_Target_DGP_Intercepts_Nov2011.pdf and at www.corebox.net
The DGP Gold Project
The DGP comprises four licences (covering 318,500ha or 3,185km(2)), 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
Auryx Gold Corp.’s Otjikoto Project to the northeast. Auryx is
currently the subject of a takeover by B2Gold.
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).
Auryx’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.
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., 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 the DD holes were
drilled north at -50Ã‚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. 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 12 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.
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
SOURCE Helio Resource Corp.