Helio Resource Corp (CVE:HRC) reports an exploration update on its Damara gold project (DGP) in Namibia situated 25km – 130km east of AngloGold-Ashanti’s Navachab gold mine.
The press release is quoted as saying:
Cheshire Cat is an arcuate target trending E-W to NNE-SSW. It consists of a 1.5km long Au ± Cu soil anomaly overlying a tremolite-altered zone of dolomitic marble with discordant quartz veining and sulphidation. Previous drilling of this target by AGA subsidiaries in the late 1980s intersected up to 17m grading 2.8g/t Au. Rock grab sampling recently conducted by Helio some 300m SE of where AGA drilled has recorded grades of up to 6.5g/t Au and 0.48% Cu.