Quantcast
Last updated on April 19, 2014 at 12:41 EDT

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

February 6, 2012


    TSX-V Trading Symbol: HRC                                             Toll Free: +1 888 955 4728
    E-mail:                                                               Website:
    info@helioresource.com    www.helioresource.com

 

VANCOUVER, Feb. 6, 2012 /PRNewswire/ – 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 AND thickening 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 in the
            following link:

http://www.helioresource.com/i/maps/2012-02-06_NRM2.pdf
        --  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.

A detailed RC drill plan for the Gold Kop Target is represented in the
following link:
http://www.helioresource.com/i/maps/2012-02-06_NRM1.pdf

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 #|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 #|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 3,185km(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 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.

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.


Source: PR Newswire