Helio’s SMP Mineral Resource Classified Almost Entirely as Indicated

- March 26th, 2015

Helio Resource Corp. (TSXV:HRC) released an updated NI 43-101 mineral resource estimate for its Tanzania-based SMP gold project, noting that the total indicated resource now sits at 7.5 million tonnes grading 2.4 g/t gold for 590,000 ounces of gold contained.

Helio Resource Corp. (TSXV:HRC) released an updated NI 43-101 mineral resource estimate for its Tanzania-based SMP gold project, noting that the total indicated resource now sits at 7.5 million tonnes grading 2.4 g/t gold for 590,000 ounces of gold contained.

Other highlights include:

  • [The indicated resource] can be broken down into 5.9 Mt grading 1.8 g/t Au for 332,000 oz inside a pit constrained shell at US$1,400/oz gold price and 1.6 Mt grading 4.9 g/t for 258,000 ounces of potentially underground mineable material (see Table 2 below).
  • The total Inferred Resource is 0.56 Mt at 2.5 g/t Au containing 45,000 oz Au in the same pit constrained shell and underground configurations.
  • The higher-grade underground resource bodies are all open at depth.
  • The new high-grade zones at Gap encourage further follow-up, especially the western shoot, which returned an intercept of 4m grading 30 g/t Au (see news release dated January 29, 2015).

CEO Richard Williams commented:

The SMP Mineral Resource is now classified almost entirely as Indicated, which gives us much greater confidence in the quality of the resource estimation and puts us in the position to advance the project to a production decision through a feasibility study. It is our belief that current market conditions favour projects that can supply high-grade process feed material, resulting in low unit costs, with modest up-front capital requirement. We believe that SMP presents such an opportunity.

About Helio Resource:

Helio Resource Corp. is a resource company focused on advancing the 100% owned SMP Gold Project in Tanzania to a production decision, and outlining the resource potential at the DGP Gold Project in Namibia.

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

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