Measured and Indicated Ounces Increase by 104% at Helio’s SMP Gold Project

An independent NI 43-101 compliant updated mineral resource estimate for the Helio Resource Corp (TSXV:HRC) SMP Gold Project in Tanzania highlight an increase in measured and indicated ounces – 104% to 1,020,000 ounces at 1.32g/t Au at a 0.5g/t Au Cut off.

As quoted in the press release:

Highlights from the Resource Memorandum:

• SRK recommend the use of the 0.5g/t Au cut off grade when evaluating the Mineral Resource.
• Measured and Indicated Mineral Resources of 1,020,000 ounces at 1.32g/t Au plus an Inferred Mineral Resource of 240,000 ounces at 1.05g/t Au at a cut-off grade of 0.5g/t. Compared to the maiden Mineral Resource estimate, these figures represent a 104% increase in metal in the Measured and Indicated category, and an 11% decrease in metal in the Inferred category.
• Robust resource – at a 0.9g/t Au cut-off the Measured and Indicated Mineral Resources are 860,000 ounces at 1.54g/t Au and the Inferred Mineral Resources are 170,000 ounces at 1.33g/t Au.
• The resource is open along strike and at depth in all targets.
• Initial Whittle pit optimisation for Porcupine and Kenge indicates that a total of 890,000 ounces (approximately 87% of their Measured and Indicated Mineral Resources) are included within the pit shells.

Porcupine Target

• Some recent shallow drill intersections of higher grade mineralisation at Porcupine (e.g. 7.4m at 6.1g/t Au) could not be confidently correlated with the main bodies of mineralization, and therefore were not included in the resource, but these intersections represent excellent potential to add higher grade material to the resource with further drilling.
• Additionally, the deepest drilled intercepts at Porcupine (53m grading 2.9g/t Au and 28m grading 5.1g/t Au) demonstrate the strong potential to add ounces at depth, beneath the current resource.

Konokono and Tumbili Targets

• Only 4% of the resource comes from the Konokono and Tumbili targets. The ounces from these targets are completely new to the resource base and represent only 100-150m of strike length at each of those targets. In addition, mineralisation at these targets outcrops at surface, and all drilling to date has focussed on mineralisation within 50m of surface.
• Recent drill testing of the Konokono and Tumbili targets indicate a strike length potential of 3,200m, implying excellent potential to significantly increase the resource base in these areas.

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