Helio Makes a Significant New Gold-Copper-Silver Discovery at the Gold Kop Target, Damara Gold Project, Namibia
50m @ 2.1g/t Au, 0.8% Cu and 14g/t Ag
Includes 7m @ 9g/t Au, 4.4% Cu and 73g/t Ag
TSX-V Trading Symbol: HRC
VANCOUVER, June 13, 2011 /PRNewswire/ – Helio Resource Corp. (TSX-V: HRC) is
very pleased to report the first diamond drill results from the current
drill programme at the Gold Kop Target, on its 100%-owned Damara Gold
Project (DGP) in Namibia. The Gold Kop Target is situated 45km
northeast of AngloGold Ashanti’s (AGA) Navachab gold mine (see map at http://www.helioresource.com/i/pdf/2011-06-13_NRM1.pdf).
-- 50m grading 2.1g/t Au, 0.8% Cu and 14.0g/t Ag -- Including 7m grading 9.0g/t Au, 4.43% Cu and 73.0g/t Ag -- Multiple mineralised horizons -- Mineralisation outcrops at surface and is open along strike and to depth -- The intercept is located on the western margin of a 1.2km long IP anomaly which is open to the north -- The intercept is also located within a 4km-long gold in soil anomaly which is open to the southwest -- 2 drill rigs (1 diamond and 1 RC) currently active on the Gold Kop target
These results are from the first hole of an ongoing 5,000m drill
programme at the Gold Kop Target. OJD1 was drilled to test a large
geochemical and geophysical anomaly.
The map showing the location of the drill hole in relation to a 4km long
gold-in-soil anomaly, is presented in the link below:
And a map showing the location of OJD1 in relation to a 1.2km long IP
geophysical anomaly, is presented in the following link:
The hole intercepted a number of mineralised horizons, varying from wide
zones representing bulk-mineable type targets to narrower high-grade
zones. A table of the significant intercepts from the hole is presented
The Gold – Copper – Silver mineralisation is hosted by a package of
tremolite-altered marbles. There is a strong association with
sulphides, mainly pyrite with chalcopyrite and pyrrhotite. The
highest-grade mineralisation is associated with a zone of fresh massive
and semi-massive sulphide and has a Specific Gravity of 4.14.
Drilling to expand and define this large zone of mineralisation is
Management believes that this drill hole supports the potential for the
Company to make a significant new gold discovery only 45km away from
AngloGold Ashanti’s Navachab mine.
___________________________________________ | | | |Au |Ag |Cu | | |Hole # |From|Length|(g/t)|(g/t)|(%) |SG | |_________|____|______|_____|_____|____|____| |OJD1 | 4| 17| 0.7| 1.9|- | | |_________|____|______|_____|_____|____|____| |and | 51| 50| 2.1| 14.0| 0.8|3.24| |_________|____|______|_____|_____|____|____| |including| 54| 7| 9.0| 73.0|4.43|4.14| |_________|____|______|_____|_____|____|____| |and* | 129| 20.8| 0.25|- |- |2.90| |_________|____|______|_____|_____|____|____| | | | | | | | | |_________|____|______|_____|_____|____|____|
Historical drilling of Gold Kop
Since the late 1980s, previous explorers have conducted a limited amount
of shallow reconnaissance drilling along the 4km-long Gold Kop
gold-in-soil anomaly. Drilling results (for which copper-silver values
were not reported) from the previous campaigns include:
-- 1m at 71g/t Au; -- 7m @ 5.6g/t Au (open); -- 4m @ 8.6 g/t Au (open); -- 8m @ 3.0g/t Au; -- 34m @ 0.9 g/t Au.
Significant drill intercepts (>3m @ >2.0g/t Au) were recorded in AGA
drill holes over a 2.2km strike extent of altered marble and
mineralisation is open along strike to the northeast and southwest and
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.
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 4.48 Moz grading 1.17g/t Au (source
AngloGold Ashanti Quarterly Report, December, 2010).
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 total of 1.5 Moz at a 0.8g/t cut-off.
The 5,000m 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 Company’s news release
dated January 13, 2011).
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 the
contents of this news release. Hole OJD1 was drilled southwards at
-60Ã‚º. Intercepts are reported as drilled widths; more drilling is
required to determine true widths. The hole was continuously sampled at
1m intervals. Samples were split with a core saw and one half was
retained on site. All samples were submitted to the lab with internal
QA/QC checks including the use of standards (ave. 1 every 18 samples)
and duplicates (ave. 1 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 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 (except for the zone from 129m, which has a
0.2g/t Au cut-off) and may include some mineralised waste. Highest individual 1m assays were 18.1g/t Au from 54m, 5.6% Cu from 57m
and 99.0g/t Ag from 58m.
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.