Helio Files NI 43-101 Report for SMP Gold Project

Helio Resource Corp. (TSXV:HRC) announced that it has filed on SEDAR a NI 43-101 report on the updated mineral resource estimate for its Tanzania-based SMP gold project.

Highlights include:

  • Using a 1.0 g/t cut-off, the Indicated Resource category contains 627,000 ounces grading 2.07 g/t Au, plus an additional 180,000 ounces at 1.54 g/t Au in the Inferred Resource category. This represents a 34% and 15% increase in grade compared to the respective categories from the 2012 resource estimate.
  • Identification of a high-grade resource potentially amenable to underground mining; at a 3.0g/t cut-off, the Indicated Resource category contains 332,000 ounces grading 5.0 g/t Au, plus a further 16,000 ounces grading 5.21 g/t Au in the Inferred Resource category.
  • Using a $1,250 gold price, 491,000 Indicated Resource ounces grading 2.1 g/t Au plus 30,000 Inferred Resource ounces grading 1.9 g/t Au reports into an open pit shell. An additional 27,900 ounces grading 5.26 g/t Au lie outside the pits and are potentially mineable by underground methods.

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