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Helio Reports First Phase Drilling at Chura Target, SMP Gold Project & discovers new gold mineralisation
Sep. 22, 2011 11:24AM PST
Company NewsHelio Resource Corp (CVE:HRC) announced the discovery of a new zone of bedrock gold mineralisation at the Chura target, SMP gold project, in south-western Tanzania.
Helio Resource Corp (TSXV:HRC) announced the discovery of a new zone of bedrock gold mineralisation at the Chura target, SMP gold project, in south-western Tanzania.
The press release is quoted as saying:
The Chura Target is located 4km west of the Porcupine target and 7km east of the Kenge target (see Map 1). The target consists of a strong, 2km long, magnetic anomaly associated with reactivated shear zones.
Small scale artisanal mining activity has focussed on narrow high grade veins outcropping at surface. Sampling of these veins by Helio has returned assays up to 150g/t Au.
Gold mineralisation occurs in a zone of disseminated sulphides (principally pyrite) and sheeted quartz veining hosted by a granitic unit close to a geological contact with a dioritic footwall unit. In this respect the mineralisation is analogous to that at Porcupine. On Line 1, the zone dips north-east at -25º.
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