TSX-V Trading Symbol: HRC
VANCOUVER, June 2 /PRNewswire-FirstCall/ - Helio Resource
Corp. ("Helio" or the "Company") (TSX-V: HRC) is pleased to report
the latest results from the 2010 diamond drill programme at the SMP
Gold Project in the Lupa Goldfields, Tanzania. These results confirm the presence
of a NW trending mineralised zone that appears to extend northwest
from the Porcupine to the Quill Target over a strike length of at
least 250m.
Porcupine
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Two drill holes are reported herein, GPD67 and GPD78. Results
are tabulated below:
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Width Grade
Hole # Target From (m) (g/t) Intersection
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GPD67 Porcupine 143m 1 9.0 1m @ 9.0g/t Au from 143m
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Porcupine 143m 56 0.6 and 56m @ 0.6g/t Au from 153m
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Porcupine 240m 5 0.9 5m @ 0.9g/t Au from 240m
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GPD78 Porcupine 136m 64 1.3 64m @ 1.3g/t Au from 136m
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NB - holes GPD68 to 77 were drilled elsewhere and will be reported when
results are available
GPD67, collared approximately 100m north of the main zone of
mineralisation at the Porcupine Target, was drilled from NE to SW
on an azimuth of 220 into the footwall of the southeast-dipping
main zone of mineralisation to test for NW-SE striking, NE-dipping
structures.
The majority of veins encountered in the mineralised sections of
the drill core were oriented at a high angle to the drill core,
confirming the presence of a NW trending mineralised zone that
appears to extend northwest to the Quill Target, where RC (reverse
circulation) drilling intersected 72m grading 0.6g/t gold (see news
release date June 1, 2009).
A simplified plan map showing the location of GPD67 and the
orientation of this new zone of mineralisation in relation to the
main zone can be found at
www.helioresource.com/i/pdf/2010-06-02_NRM1.pdf.
This drilling suggests that this northwest trending zone of
mineralisation extends at least 250m to Quill.
GPD78 was drilled from E to W, and was located 50m north of hole
GPD65, which intersected 52m grading 3.7g/t Au (see company press
release dated April 19, 2010). This
hole was drilled to test the plunge direction and thickness of the
higher grade core of mineralisation in the main zone, and also to
test the intersection of main zone and the northwest trending zone
identified in GPD 67.
Results are presented on the Company's website, and a revised 3d
model will be available within one week on www.corebox.net through
the Company's website: www.helioresource.com.
ABOUT THE SMP GOLD PROJECT
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Helio, through its 100% owned subsidiary BAFEX Tanzania Ltd.,
can earn a 100% interest in five contiguous licences, which cover a
35km strike length of the Saza Shear Zone.
Since June 2006, the Company has
drill-tested sixteen targets. Fifteen of the targets have
intersected bedrock-hosted gold mineralisation, the most advanced
being the Porcupine and Kenge Targets (see the Corporate
Presentation on the Home Page of the Company's website at
www.helioresource.com).
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 the contents of this news release. Intercepts are
reported as drilled widths, true width of the widest intercept is
estimated to be approximately 60-90% of reported width. Continuous
1m samples were taken every through the main mineralised zone, and
2m samples were taken outside this. Samples were split with a core
saw and one half was retained on site. 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. Unless otherwise stated, weighted average
intercepts are calculated between the uppermost and lowermost
samples within the main mineralised zone using a 0.5g/t Au cut-off
and may include some internal 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.
