Helio Reports Commencement of 2010 Drill Programme at the SMP Gold Project in Tanzania
March 04 2010 - 1:06PM
PR Newswire (US)
VANCOUVER, March 4 /PRNewswire-FirstCall/ -- Helio Resource Corp.
("Helio" or the "Company") (TSX-V: HRC) is pleased to report that
it has commenced its 2010 drill programme with one diamond drill
and one RC drill. The 2010 programme will be funded from the
recently closed $6.2million private placement, placed completely
with IFC, a member of the World Bank Group. The diamond drill is
working at the Porcupine Target, testing strike extensions to known
mineralisation and also testing the structural controls to
higher-grade mineralisation. The Porcupine Target is open for over
500m to the NE towards hole GPR35 (18m @ 0.9g/t Au) and for over
800m to the WNW through hole GPR10 (54m @ 0.3g/t Au). See Company
press releases dated June 1, 2009 and November 24, 2009 for more
details. The RC (reverse circulation) drill programme is aimed at
testing new targets identified in the detailed magnetic survey
conducted late in 2009 (see news release dated December 1, 2009).
The drill targets are structural intersections and buried magnetic
anomalies with similar characteristics to targets already
successfully tested by Helio. Some of these targets have previously
been tested at the reconnaissance level (Reefski and Panya) but new
structural interpretations from the latest magnetic data have
identified other targets to test in the vicinity of the known
mineralisation. A plan map showing targets planned for drilling in
2010 is shown at
http://www.helioresource.com/i/pdf/2010-03-04_NRM1.pdf 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
thirteen targets, nine of which are hosted along the Saza Shear
Zone. Twelve 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 http://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. 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. DATASOURCE: Helio
Resource Corp. CONTACT: Richard Williams, (604) 638-8005 or by
e-mail torichard@helioresource.com
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