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Helio Reports Updated Higher-Grade Resource for the Kenge and Porcupine Targets, SMP Gold Project, Tanzania
Results Support the Strategy to Focus on Higher-Grade Production Opportunities TSX-V ...
About this update from Winshear Metals Corp.
[{"type":"text","content":"\n\n\nResults Support the Strategy to Focus on Higher-Grade Production\n Opportunities\n\n\nTSX-V Trading Symbol: HRC\nToll Free: +1 888 955 4728\nE-mail: [email protected]\nWebsite: www.helioresource.com\n\n\nVANCOUVER, Feb. 3, 2014 /CNW/ - Helio Resource Corp (TSX-V: HRC),\n (\"Helio\" or the \"Company\") is pleased to report that it has received an\n updated NI 43-101 compliant mineral resource estimate for its SMP Gold\n Project, Tanzania. The previous resource estimate (see Company news\n release dated February 14, 2012) was based on a 0.5g/t cut-off grade at\n a $1,450 gold price. The purpose of the work reported here is to\n identify the potential for higher-grade open pit and underground\n resources that are potentially economically minable in today's lower\n gold price environment.\n\n\n\n\n\n\n\nCut off grade \n(g/t Au)\n\n\nResource \nClassification\n\n\nAverage grade \n(g/t Au) \n\n\nTonnes \n(Millions)\n\n\nContained \nGold (oz)\n\n\n\n\n1.0\n\n\nIndicated\n\n\n2.07\n\n\n9.45\n\n\n627,000\n\n\n\n\n1.0\n\n\nInferred\n\n\n1.54\n\n\n3.62\n\n\n180,000\n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\n1.5\n\n\nIndicated\n\n\n2.80\n\n\n5.04\n\n\n453,000\n\n\n\n\n1.5\n\n\nInferred\n\n\n2.18\n\n\n1.24\n\n\n87,000\n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\n3.0\n\n\nIndicated\n\n\n5.04\n\n\n2.05\n\n\n332,000\n\n\n\n\n3.0\n\n\nInferred\n\n\n5.21\n\n\n0.09\n\n\n16,000\n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\n4.0\n\n\nIndicated\n\n\n5.86\n\n\n1.32\n\n\n249,000\n\n\n\n\n4.0\n\n\nInferred\n\n\n5.45\n\n\n0.08\n\n\n14,000\n\n\n\n\n\n\nTable 1.  Summary of the Resource Estimate at different cut-off grades.\n\n\n\n\n\n\n\nThis resource estimate is from the Kenge and Porcupine areas only. The\n Kenge Resource Area is located 6 km east of Shanta Gold's New Luika\n Mine, which reported production of 64,000 ounces of gold in 2013 and is\n projected to produce 80,000 ounces of gold in 2014 (see Shanta releases\n dated January 20, 2014). The Porcupine Resource Area is located a\n further 12 kilometres to the east. A map showing the location of the\n Kenge and Porcupine Resource Areas and proximity to Shanta Gold's\n Bauhinia Creek Pit, New Luika gold mine is provided here http://www.helioresource.com.map.\n\n\nMr. Richard Williams, CEO of the Comp...