Helio Resource Corp (TSX-V: HRC), is pleased announce that it has commenced a diamond drill programme to test the down plunge extensions of three high-grade zones identified within the Kenge resource at the Company’s 100%-owned SMP Gold Project in Tanzania. The Kenge resource area is located 6 km east of Shanta Gold’s high-grade New Luika mine.
The Company intends to drill four holes to confirm and expand the new geological model, and identify potential to rapidly increase the size and overall grade of the deposit. Holes will test the Main, SE and Mbenge Zones of the Kenge resource area. Results of the programme are anticipated within the next 4-6 weeks.
SMP Gold Project
On February 14, 2012 the Company announced an updated NI 43-101 compliant resource statement for the SMP project, as follows:
As a result of the ongoing relative weakness in the gold price and difficult market conditions, the Company has focused on the high-grade drill intercepts within the resource to determine if:
The assessment has identified 5 high-grade shoots within the Kenge resource area – see long section above. Some very encouraging features have been identified:
About Helio Resource Corp.
Helio Resource Corp. is an exploration company focused on increasing the size of the NI 43-101 compliant resource at its 100% owned SMP Gold Project in Tanzania and outlining the resource potential at the DGP Gold Project in Namibia.
In February 2012, SRK Consulting (Australia) Pty. Ltd. provided an updated NI 43-101 compliant resource estimate for the SMP. The estimate at a 0.5g/t Au cut-off reports 1,020,000 ounces (24.1MT grading 1.32g/t Au) in the Measured and Indicated category, plus 240,000 ounces (7.3MT grading 1.05g/t Au) in the Inferred category.
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