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Helio: 2012 drill progamme underway at the Damara Gold Project, Namibia
TSX-V Trading Symbol: HRC Toll Free: +1 888 955 4728 E-mail: [email protected] Websit...
About this update from Winshear Metals Corp.
[{"type":"text","content":"\n\n\n\n\n\nTSX-V Trading Symbol: HRC Toll Free: +1 888 955 4728\nE-mail: [email protected] Website:  www.helioresource.com\n\n\nVANCOUVER, March 6, 2012 /CNW/ - Helio Resource Corp. (TSX-V: HRC -\n \"Helio\" or the \"Company\") is pleased to announce that drilling has\n commenced at the Gold Kop Target, Damara Gold Project (DGP) in Namibia.\n\n\nPrevious drilling by the Company during 2011 included the discovery of\n Navachab-style gold mineralisation at the Gold Kop Target. Drill\n testing over a 1.3km strike length intersected the following:\n\n\nMassive sulphide zones up to 7m grading 9.0g/t Au, 4.4% Cu and 75g/t Ag;\n\n\nNarrow high-grade quartz veins up to 1m grading 33g/t Au;\n\n\nHigh-grade metasomatic replacements up to 2m grading 15g/t Au and 60g/t\n Ag;\n\n\nBroad zones of low-grade bulk tonnage gold mineralisation hosted in\n dolomitic marbles (e.g. 50m grading 0.6g/t Au and 38m grading 0.8g/t\n Au).\n\n\nMineralisation outcrops at surface, has been drilled to a downhole depth\n of 150m, and is open to depth and along strike.\n\n\nThe current work, part of a planned 6,000m programme of reverse\n circulation (RC) drilling, will test recently discovered gold-in-soil\n soil anomalies close to the area of previous drilling (see map at http://www.helioresource.com/i/maps/2012-03-06_NRM1.pdf). Initial drilling will be focussed on Target 6, and results will be\n reported once available.\n\n\nThe DGP Gold Project\n\n\nThe DGP comprises four licences (covering 318,500ha or 3,185km2), namely Etjo South, Okakango, Wilhelmstal and Otjimbojo. Helio holds a\n 100% interest in the project through its wholly-owned Namibian\n subsidiary, BAFEX Exploration (Pty.) Ltd.\n\n\nThe DGP is located between AngloGold Asanti's (AGA) Navachab Mine to the\n southwest and B2Gold's Otjikoto Project to the northeast.\n\n\nThe Navachab mine has been in production since 1989 and, as of December\n 2009, and has produced approximately 1.5 Moz of gold and has a non-NI\n 43-101 compliant resource of 5.1 Moz grading 1.15g/t Au (source\n AngloGold Ashanti Resource Report, 30 June, 2011).\n\n\nB2Gold's Otjikoto Gold Project, located approximately 150km northeast of\n Helio's licences has a NI43-101 indicated resource (February, 2011) of\n 15.78Mt grading 1.94g/t Au and an inferred resource of 8.37Mt grading\n 1.94g/t Au for a total of 1.5 Moz at a...