Friday, September 14, 2012

Helio Resource Corp. [TSX-V:HRC] - Helio Reports Preliminary Economic Assessment of the SMP Gold Project, Tanzania

500,000 Ounce Production Base Case - NPV of US $85.7M (IRR of 24%)
800,000 Ounce Production Upside - NPV of US $146.1M (IRR of 23%) 

Helio Resource Corp (TSX-V: HRC) is pleased to report that it has received an independent NI 43-101 compliant Preliminary Economic Assessment (“PEA”) for the SMP Gold Project in Tanzania. The PEA was conducted on Measured and Indicated Resources only, with production envisaged from the Porcupine, Kenge and Mbenge targets. 

It is also important to note that this PEA evaluates only 3 of the 30 targets within the SMP Gold Project area.

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