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Helio (TSX-V:HRC) Announces $1.5 Million Drill Program at SMP Gold Project, Tanzania
Files Q1 Financial Statements/MD&A TSX-V Trading Symbol: HRC    ...
About this update from Winshear Metals Corp.
[{"type":"text","content":"\n\nFiles Q1 Financial Statements/MD&A\n\nTSX-V Trading Symbol: HRC                                    \n\n\n\nVANCOUVER, Sept. 9, 2014 /CNW/ - Helio Resource Corp. (TSX-V: HRC), (\"Helio\" or the \"Company\") is pleased to announce that, following the successful completion of a $4 million financing in July, the Company's Board of Directors has approved a $1.5 million diamond drill program for the SMP Project in the Lupa Goldfield, SW Tanzania.  \n\n2014 Drill Program\n\nThe drill program is expected to include 5,000-7,000m of drilling and be completed by the end of November, 2014.\n\nThe drill program will focus on adding additional higher-grade resources from the Porcupine Target, where the deepest previous drill holes intersected 28m grading 5.1 g/t Au (GPD-49) and 53m grading 2.9 g/t Au (GPD-51). The current NI 43-101 compliant resource is summarised below (also refer to news release dated February 3, 2014 here).  \n\nCurrent 43-101 Resource\n\n\n\n\nCut off grade (g/t Au)\n\n\nResource Classification\n\n\nAverage grade (g/t Au) \n\n\nTonnes (Millions)\n\n\nContained Gold (oz)\n\n\n\n1.0\n\n\nIndicated\n\n\n2.07\n\n\n9.45\n\n\n627,000\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\n3.0\n\n\nIndicated\n\n\n5.04\n\n\n2.05\n\n\n332,000\n\n\n\n3.0\n\n\nInferred\n\n\n5.21\n\n\n0.09\n\n\n16,000\n\nThe drill program will also test the open pit and underground potential of the Konokono and Gap Targets.  \n\nThe Konokono Target has previously-announced drill intercepts including 4m grading 11.2 g/t Au and 13.1m grading 3.7 g/t Au. Both of these separate mineralised zones are open along strike and to depth.  Mineralisation styles are similar to those at Porcupine, being hosted in brittle structures cutting a granite. Please refer to the map for the exact locations of the targets: SMP Gold Project map.\n\nDrilling by Helio at the Gap Target has also intersected multiple zones of mineralisation over an 800m+ strike length. Previously announced intercepts include 15m grading 2.2 g/t Au (including 5m grading 5.3 g/t Au), 4m grading 4.2 g/t Au and 3m grading 7.2 g/t Au. \n\nQuarterly Financials and MD&A\n\nIn ad...