Helio reports diamond drilling update - SMP Gold Project, Tanzania
- 5.1g/t Au over 28m plus 2.9g/t Au over 53m from the Porcupine Target - High Grade gold intersected at the Dubwana target (up to 1m @ 66.9g/t Au) TSX-V Trading Symbol: HRC
Drill results are presented from the Porcupine Target and from the reconnaissance drill programme recently completed at the Dubwana and Chui targets.
Porcupine Target - Ongoing Diamond Drilling -------------------------------------------
Diamond drilling is ongoing at the 1km-long Porcupine target where recent drilling intersected 42m @ 2.3g/t Au and 45m @ 2.1g/t Au (Company press release dated
The Company is very encouraged by the high-grade intersections from the main zone at Porcupine in holes GPD49 (28m @ 5.1g/t Au from 249m downhole) and GPD51 (53m @2.9g/t Au from 232m downhole), which demonstrate the strong potential of the target at depth and to the east along strike. The intersection in GPD49 is the deepest intercept to date, and is located at 260m down-dip (230m vertically below surface).
Also, the intersection in GDP48 (92m @ 0.9g/t Au from 260m down hole) is the widest zone of mineralisation drilled to date at Porcupine.
------------------------------------------------------------------------- Hole No. Target Intersection Comments ------------------------------------------------------------------------- GPD45 Quill 9m @ 3.7g/t Au from 42m ------------------------------------------------------------------------- GPD45 Quill incl. 1m @ 20.2g/t Au from 50m ------------------------------------------------------------------------- GPD45 Quill and 6m @ 1.3g/t Au from 90m ------------------------------------------------------------------------- GPD46 Quill 13m @ 0.3g/t Au from 193m severe dilution from a dolerite dyke. Not 0.5g/t Cut-off ------------------------------------------------------------------------- GPD47 Quill 25m @ 0.3g/t Au from 65m not 0.5g/t Cut-off ------------------------------------------------------------------------- GPD47 Quill and 2m @ 2g/t Au from 119m ------------------------------------------------------------------------- GPD48* Porcupine 92m @ 0.9g/t Au from 260m ------------------------------------------------------------------------- GPD49 Porcupine 28m @ 5.1g/t Au from 249m ------------------------------------------------------------------------- GPD49 Porcupine incl. 1m @ 57.9g/t Au from 254m ------------------------------------------------------------------------- GPD49 Porcupine and incl. 1m @ 53.4g/t Au from 265m ------------------------------------------------------------------------- GPD51 Porcupine 53m @ 2.9g/t Au from 232m ------------------------------------------------------------------------- GPD51 Porcupine incl. 2m @ 23.8g/t Au from 233m ------------------------------------------------------------------------- - GPD48 includes a 7m section (from 271-278m) which was not sampled. This has been assigned a zero value for gold when calculating the weighted average value as reported. The section has recently been sampled and the revised results will be published when available.
The results from the Quill Target, located approximately 200m north of Porcupine main zone, are also very encouraging, and support the need for additional drilling in that area.
A revised long section for the recent results from Porcupine is presented in the link below:
www.helioresource.com/i/pdf/2009-10-14_NRM1.pdf
Diamond drilling is continuing at Porcupine; five more diamond drill holes have been completed - results are pending.
Dubwana and Chui Targets ------------------------
Four widely spaced reconnaissance diamond drill holes (MDN1 to MDN4) were completed at the Dubwana target (Company press release dated
In addition to the extensive gold-in-soil anomaly, the target is characterised by the presence of numerous active and historical artisanal mine workings.
Two zones of high-grade gold mineralisation (1m @ 15g/t Au and 1m @ 66.9g/t Au) were intersected in MND3, as presented in the table below:
------------------------------------------------------------------------- Hole No. Intersection Comments ------------------------------------------------------------------------- MND1 1m @ 1.2g/t Au from 97m ------------------------------------------------------------------------- MND2 1m @ 0.4g/t Au from 37m not 0.5g/t Au cut-off ------------------------------------------------------------------------- MND3 1m @ 15g/t Au from 75m ------------------------------------------------------------------------- and 1m @ 66.9g/t Au from 297m recheck 78.9g/t Au ------------------------------------------------------------------------- MND4 2m @ 1.6g/t Au from 499m -------------------------------------------------------------------------
Mineralisation intersected in holes MND2, MND3 and MDN4 appears to be from the same continuous structure, suggesting a strike length of over 500m. The main zone in MND3 has been drilled to a down dip depth of over 300m. The results warrant further follow-up, and geological mapping is being conducted with the objective of better understanding the structural controls on the high grade mineralisation.
One diamond drill hole was completed at the Chui Target. Although wide zones of veining, sulphides, and alteration were observed, no significant gold mineralisation was intersected
ABOUT THE SMP GOLD PROJECT --------------------------
Helio, through its 100% owned subsidiary BAFEX
Since
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. Drill holes were oriented perpendicular to the main mineralised zone. Intercepts are reported as drilled widths, true width is estimated to be 60-90% of reported width. Diamond drill samples were cut with a rock saw, and sampled at 1m or 2m intervals, with the counterpart half-core being retained for reference. 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,
For additional information, please contact
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.
%SEDAR: 00012999E
For further information: Richard Williams, (604) 638-8005 or by e-mail to [email protected].
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