Helio discovers 1K strike length gold in Tanzania

Helia Resource Corp (TSX-V:HRC) has unearthed a one-kilometre strike zone at its SMP gold project in Tanzania.

While artisinal mining has focused on narrow vein surface outcroppings, some containing assays up to 150 g/t gold, the new Chura zone appears to contain one kilometre of mineralization with a 2K-long magnetic anomaly, Helio stated in a news release.

Highlights:

• Chura is located 4km west of the Porcupine Resource;
• Mineralisation and geology similar to Porcupine;
• 3 N-S fences of drill holes were completed, covering a 1km strike length;
• Mineralisation is associated with a 2km long magnetic anomaly;
• Gold mineralisation outcrops at surface, was intersected in all three drill fences, and remains open along strike and to depth;
• Chura represents a completely new zone of gold mineralisation to add to the resource at SMP;
• Line 1 – up to 20m grading 0.8g/t Au;
• Line 2 – up to 5m grading 1.4g/t Au (open);
• Line 3 – up to 2m grading 5.7g/t Au;
• It is important to note that similar drill intercepts are found at Porcupine, and are often located within 50m of much wider and higher grade mineralised zones.

The 238-kilometre SMP gold project has 30 identified gold targets with a measured and indicated resource of 589,497 ounces at 1.5 g/t Au. The inferred resource stands at 353,097 ounces at 1.12 g/t with a cutoff grade of 0.3 g/t.

Read the full news release