Helio Resource Corp.'s (HRC:TSX-V)

(HELOF:OTC) objective in 2011 is to increase the resource at the SMP Gold Project in Tanzania with at least 50% and to outline the resource potential at the Damara Gold Project in Namibia.

In November 2010, Helio released an encouraging initial resource estimate for the SMP: Unrestrained Measured and Indicated Resource of 588,749 ounces at 1.54g/t Au plus an Inferred Resource of 352,354 ounces at 1.10g/t Au at a cut off grade of 0.3g/t (Click here for full details).

The resource comes from only 2 of at least 30 mineralised targets identified on the SMP Project, namely Porcupine and Kenge. Both targets have very strong potential for resource expansion which will be the initial focus of the 2011 20,000m drill programme started early March.

Metallurgical testwork on mineralised rock from the Kenge and Porcupine targets shows recoveries of up to 96% through conventional grinding, cyanidation and/or flotation.

Helio has commenced a 5,000m+ drill programme testing several high priority and newly defined targets at the 100%-owned, 3,185km² Damara Gold Project in central Namibia, east of and on strike from AngloGold Ashanti's Navachab gold mine.

Last changed at 15-Mar-2012 11:59AM by Boot