Helio Releases Preliminary Economic Assessment for 3 Targets Within the SMP Gold Project in Tanzania

Helio Resource Corp (TSXV:HRC) has released an independent NI 43-101 compliant Preliminary Economic Assessment for the SMP Gold Project in Tanzania, conducted on Measured and Indicated Resources only, with production envisaged from the Porcupine, Kenge and Mbenge targets.

As quoted in the press release:

500,000 Ounce Production Base Case – NPV of US $85.7M (IRR of 24%)
800,000 Ounce Production Upside – NPV of US $146.1M (IRR of 23%)

SRK has provided two scenarios for the PEA, a Base-Case outcome, and an Upside outcome. The Upside case requires geotechnical work to confirm that a pit wall angle of 55 degrees is viable.

Helio COO Chris MacKenzie said:

We are very pleased with the outcome of the PEA which demonstrates the potential economic viability of the current resource. We will use this as the basis for advancing the project through pre-feasibility. The Upside Case requires confirmation that the enclosing rock can support a 55 degree pit wall. Given that the country rock is competent massive granite we believe this is eminently possible. In addition to the study, we have identified seven areas of high-grade gold mineralisation that are not included in the resource base – these will be the focus for ongoing exploration, with the objective of adding higher-grade ounces to the resource base.

Click here to read the Helio Resource Corp (TSXV:HRC) press release
Click here to see the Helio Resource Corp (TSXV:HRC) profile.

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Gold Mine Development
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Gold Resource Expansion/Feasibility Study/PEA

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