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Helio Confirms Extension of High-Grade Shoot at Kenge Resource Area at the SMP Gold Project, Tanzania
Provides Update on Resource Re-Modelling TSX-V Trading Symbol: HRC Toll Free: +1 88...
About this update from Winshear Metals Corp.
[{"type":"text","content":"\n\n\nProvides Update on Resource Re-Modelling \n\n\nTSX-V Trading Symbol: HRC\nToll Free: +1 888 955 4728\nE-mail: [email protected]\nWebsite: www.helioresource.com\n\n\nVANCOUVER, Nov. 29, 2013 /CNW/ - Helio Resource Corp (TSX-V: HRC),\n (\"Helio\" or the \"Company\") is pleased to report results from its\n recently completed diamond drill programme on the Kenge Resource Area\n at the Company's 100%-owned SMP Gold Project in Tanzania.\n\n\nThe four hole drill programme was designed to test the down-plunge\n extensions of three high-grade zones identified in previous drilling\n within the Kenge Resource Area. The Kenge Resource Area is located 6 km\n east of Shanta Gold's high-grade, producing New Luika gold mine with a\n recently announced JORC-compliant probable reserve of 2.46Mt grading\n 6.1g/t Au for 479,000 ounces (Shanta news release dated Oct 31, 2013).\n Shanta has indicated that it is on target to produce 63,000 ounces of\n gold this year. A map showing the location of the Kenge Resource Area\n and its proximity to Shanta Gold's Bauhinia Creek Pit, New Luika gold\n mine is provided here http://www.helioresource.com.map.\n\n\nA total of four holes (782m) were drilled, testing the extensions of\n high-grade shoots identified at Mbenge (one hole), Kenge SE (two\n holes), and Kenge Main (one hole). Results are summarized in Table 1.\n\n\nRichard Williams, CEO of Helio, commented, \"The goal of the drill\n program was to test a new interpretation of the orientation of\n higher-grade mineralised shoots intersected in previous drilling\n campaigns. That interpretation was successfully confirmed for Kenge SE\n zone by the intercept in SZD201 (7m at 4.9g/t Au). We also intersected\n a strong zone of quartz veining, shearing, and sulphide mineralisation\n down-plunge at Kenge Main (SZD202), with assays returning 5m at 1.5 g/t\n Au, warranting further testing. The hole testing the down-plunge\n projection at Mbenge (SZD199) intercepted a new style of mineralisation\n which has been previously unknown on the property and which we will\n continue to investigate going forward.  The new geological\n interpretation and drill results will be compiled into a revised\n resource estimate which we intend to complete by the end of 2013.\"\n\n\nKenge SE\n\n\nThe best result came from hole SZD201, intersecting 7m grading 4.9g/t Au ...