- Main Zone extended 100m to the west
- High Grades Intersected at Quill Zone
- New Mineralisation outlined at NW and NE Zones
TSX-V Trading Symbol: HRC Tel.: +1 604 638 8007
E-mail: info@helioresource.com Website: www.helioresource.com
VANCOUVER, July 26 /PRNewswire-FirstCall/ - Helio Resource
Corp. ("Helio" or the "Company") (TSX-V: HRC) is pleased to report
all remaining results for the 2010 RC and diamond drill programme
recently completed at the Porcupine Target, SMP Gold Project in the
Lupa Goldfields, Tanzania.
Results come from 4 discrete zones of mineralisation, all from
within the Porcupine Target area (see map below), namely:
1. Porcupine Main Zone
2. Quill Zone
3. Porcupine NE
4. Porcupine NW
Gold mineralisation was intersected in all four zones.
Significant results from these areas include the following:
-------------------------------------------------------
ZONE Hole # From (m) Width (m) Grade (g/t Au)
-------------------------------------------------------
MAIN GPD 78 136 31 1.6
-------------------------------------------------------
and 175 25 1.5
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GPD 92 21 84 0.8
-------------------------------------------------------
and 207 44 2.0
-------------------------------------------------------
GPD 93 29 104 1.0
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and 221 19 2.6
-------------------------------------------------------
-------------------------------------------------------
QUILL GPR 143 18 14 4.5
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GPR 144 44 2 19.4
-------------------------------------------------------
-------------------------------------------------------
NE GPD 76 21 7 1.3
-------------------------------------------------------
-------------------------------------------------------
NW GPR 150 52 14 0.9
-------------------------------------------------------
GPR 154 48 8 1.5
-------------------------------------------------------
A total of eleven diamond drill holes (prefix GPD) and fourteen
reverse circulation holes (prefix GPR) are reported here.
MAIN ZONE DRILLING
The diamond drilling focussed on the central portion of the
Porcupine Main Zone, and three of these (GPD91-93) were drilled at
the same orientation as GPD66, which intersected 79m @ 3.1g/t Au
(see Company press release dated May 4,
2010). GPD91 was drilled in the hanging wall of the Main
Zone, to test for NW-striking structures outside of the main
mineralised envelope. GPD92 and 93 both intersected two wide zones
of mineralisation, and confirm that the Porcupine Main Zone splits
into two zones towards the west. The lower intercept in GPD92
appears to indicate the presence of a second high-grade shoot
within the main Porcupine mineralisation envelope.
GPR146, which intersected 24m grading 1.6g/t Au is located
approximately 65m to the SW of hole GPD41 on the attached long
section.
----------------------------------------------
Hole # From (m) Width (m) Grade (g/t Au)
----------------------------------------------
GPD071* 118 1 0.4
----------------------------------------------
GPD073 19 1 0.7
----------------------------------------------
and 38 1 1.2
----------------------------------------------
and 102 2 0.9
----------------------------------------------
GPD078 136 31 1.6
----------------------------------------------
and 175 25 1.5
----------------------------------------------
GPD080 95 1 0.9
----------------------------------------------
and 100 5 1.3
----------------------------------------------
GPD091 149 1 2.4
----------------------------------------------
and 193 2 0.9
----------------------------------------------
and 226 1 1.6
----------------------------------------------
and 263 3 1
----------------------------------------------
GPD092 21 84 0.8
----------------------------------------------
and 112 1 2
----------------------------------------------
and 146 8 1.9
----------------------------------------------
and 207 44 2
----------------------------------------------
and 260 7 0.7
----------------------------------------------
and 295 2 2
----------------------------------------------
and 307 3 1.7
----------------------------------------------
GPD093 29 104 1
----------------------------------------------
Incl. 29 1 16.8
----------------------------------------------
and 155 2 5.1
----------------------------------------------
and 166 1 5.7
----------------------------------------------
and 181 7 0.8
----------------------------------------------
and 221 19 2.6
----------------------------------------------
Incl. 237 1 15.2
----------------------------------------------
Incl. 239 1 15.6
----------------------------------------------
GPR145 54 2 0.7
----------------------------------------------
GPR146 58 24 1.6
----------------------------------------------
GPR147 38 2 6.2
----------------------------------------------
GPR148 38 2 0.6
----------------------------------------------
and 68 2 0.6
----------------------------------------------
* not 0.5g/t Au cut-off
QUILL ZONE DRILLING
Following the drilling of an oriented diamond drill hole (GPD70)
into the Quill target, it was identified that the Quill zone
actually dips to the north/north-west. Previous drilling in this
area (see Company press release dated October 14, 2009) missed the main target. Two RC
holes (GPR143 and 144) were drilled from North to South into the
Quill zone and intercepted high-grade gold over significant
widths.
The NE-SW trending and Quill zone is located 250m NW of the main
zone at Porcupine and has been traced over 120m along strike. Quill
is open in both directions along strike and to depth.
----------------------------------------------
Hole # From (m) Width (m) Grade (g/t Au)
----------------------------------------------
GPD070 26 7 0.5
----------------------------------------------
and 43 15 0.4
----------------------------------------------
and 124 2 0.8
----------------------------------------------
and 147 1 1.3
----------------------------------------------
GPR143 18 14 4.5
----------------------------------------------
and 18 2 27.6
----------------------------------------------
and 44 4 1.1
----------------------------------------------
GPR144 32 20 2.2
----------------------------------------------
and 44 2 19.4
----------------------------------------------
and 84 2 3
----------------------------------------------
PORCUPINE NW and NE ZONES
The majority of the RC drilling focussed on the strike extents
and outlying areas of Porcupine. The results obtained have
confirmed the presence of a 900m strike length of a WNW-trending
mineralised structure which leads into the main Porcupine target,
named Porcupine NW Zone. This structure varies between 2m and 40m
wide, with grades usually in the range of 0.5-2g/t Au. This NW Zone
remains open along strike to the NW, and to depth. So far, drilling
has only tested this robust structure down to 50-70m depth.
----------------------------------------------------
Hole # Zone From (m) Width (m) Grade (g/t Au)
----------------------------------------------------
GPD075 NE 58 2 1.4
----------------------------------------------------
GPD076 NE 21 7 1.3
----------------------------------------------------
GPR145 NW 24 2 0.6
----------------------------------------------------
and NW 54 2 0.7
----------------------------------------------------
GPR149 NW 46 4 0.8
----------------------------------------------------
and NW 74 2 0.6
----------------------------------------------------
GPR150 NW 52 14 0.9
----------------------------------------------------
GPR151 NW 28 2 1.1
----------------------------------------------------
And* NW 42 46 0.2
----------------------------------------------------
GPR152 NW 42 18 0.5
----------------------------------------------------
GPR153 NW 2 2 1.1
----------------------------------------------------
And NW 16 2 2
----------------------------------------------------
And NW 70 2 0.7
----------------------------------------------------
And NW 102 2 0.6
----------------------------------------------------
GPR154 NW 40 2 0.5
----------------------------------------------------
And NW 48 8 1.5
----------------------------------------------------
GPR155 NW 40 2 0.7
----------------------------------------------------
GPR156* NW 16 54 0.3
----------------------------------------------------
GPR157 NW 40 14 0.6
----------------------------------------------------
* not 0.5g/t Au cut-off
A revised long section of the Porcupine Main Zone is presented
in the link below:
www.helioresource.com/i/pdf/2010-07-26_NRM1.pdf
A plan map showing the location of the four zones is presented
at: www.helioresource.com/i/pdf/2010-07-26_NRM2.pdf
Results are also presented on the Company's website.
Additionally, a revised 3D model will be available on
www.corebox.net and through the Company's website:
www.helioresource.com.
ABOUT THE SMP GOLD PROJECT
--------------------------
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 widths are estimated to be
approximately 50-95% of the drilled widths (see the 3D Model on
www.corebox.net for more clarity). For diamond drill core,
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. For RC drilling,
composite 2m samples were made by riffle splitting, and a reference
sample retained for future work. All 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.
