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Helio: Three Additional Retention Licences Granted at the SMP Gold Project, Tanzania
TSX-V Trading Symbol: HRC VANCOUVER , May 14, 2014 /CNW/ - Helio Resource Corp. (TSX...
About this update from Winshear Metals Corp.
[{"type":"text","content":"\n\n\nTSX-V Trading Symbol: HRC\n\n\nVANCOUVER, May 14, 2014 /CNW/ - Helio Resource Corp. (TSX-V: HRC),\n (\"Helio\" or the \"Company\") is pleased to announce that three more of\n its licences within the SMP Gold Project have been converted into\n Retention Licences. The Company was notified that PL2963, PL2964 and\n PL2965, which cover the Porcupine Resource Area, the colonial period\n Gap and Kwaheri mines, and numerous other exploration targets, have\n been approved for conversion into Retention Licences. For the exact\n location of the licences refer to the link presented here: http://www.helioresource.com.\n\n\nA Retention Licence (\"RL\") is the stepping stone between a Prospecting\n Licence and a Mining Licence. The RLs are valid for a period of 5 years\n and allow the Company to advance the project to a production decision.\n On March 25, Helio announced the successful conversion of the Saza\n Licence, which covers the Kenge Resource Area, into an RL.\n\n\nRichard Williams, CEO of Helio stated: \"This is another significant step\n in the development of the SMP project. As mentioned previously, Helio\n now has security of tenure through the pre-feasibility / feasibility\n stage for the two Resource Areas on the project, and shareholders /\n investors can see that the licence conversion process works. It is very\n encouraging to know that the Tanzanian government is fully supportive\n of our activities to date.\"\n\n\nThis is also a positive development for the region, which currently has\n one gold mine in production. Shanta Gold, a UK listed gold miner,\n commissioned the New Luika Mine in 2012, and produced 64,000 ounces of\n gold in 2013. Guidance for 2014 is for production of 80,000 ounces of\n gold at a cash cost of $750 / ounce. The New Luika mine is located 5km\n west of the Kenge Resource Area (please refer to the map presented\n here: htttp://www.helioresource.com).\n\n\nChris MacKenzie, M.Sc., C.Geol., Helio's COO and a Qualified Person as\n designated by NI 43-101, has reviewed and approved the contents of this\n news release.\n\n\nAbout the SMP Gold Project\n\n\nThe SMP Gold Project covers a 238km2 area in the Lupa Goldfield, SW Tanzania.\n\n\nOn February 3, 2014 the Company released a new resource calculation from\n the Kenge and Porcupine Resource Areas focussing on the higher grade\n aspect of the project....