Hellix Athabasca Gold in Soil Sampling Results
September 16 2011 - 12:22PM
Marketwired
HELLIX VENTURES INC. (TSX VENTURE: HEL)(PINK SHEETS: HLLXF) - Frank
Underhill, President, announces its gold in soil sampling results
from the soil and rock sampling program on the Athabasca property
near Nelson, B.C. This program was undertaken to verify the results
summarized by previous operators of the property, particularly the
1987 Compilation Report by Beaty Geological (B.C. assessment report
17,184).
Hellix obtained a total of 374 soil samples from the property
including areas outside the boundaries of historic sample
collections. The highest gold value obtained in 2011 was 695.1 ppb
(.02 oz/ton). This was one of the higher gold values obtained from
all soil sampling not centered on or close to the historic mine
site according to available records. This sample is within an
anomaly of elevated gold values (six of which assayed over 100 ppb)
within an eastern portion of the property. There is little evidence
of any historic work performed in this area.
The anomaly is approximately 300 m wide by 200 m N-S. Samples
here were taken at 25 m intervals on three soil lines spaced 100 m
apart. There were several other trends of elevated gold in soil
indicating the potential for other gold bearing structures to the
south and east of the existing Athabasca vein system.
Soil samples were collected from the 'B' soil horizon by pick
and shovel at average 30 to 40 centimetre depths. Line spacing
varied from 50 metre to 200 metre separations with samples taken at
25 metre intervals on each line. Soil samples were placed into
labeled Kraft style paper sample bags and until delivery to the
courier, were under complete control of Hellix Ventures
contractors. Samples were couriered to Acme Laboratories in
Vancouver (an International Standards Organization (ISO) accredited
lab) and analyzed by multi-element ICP. Acme Labs utilized
standards and duplicate analysis of samples as part of their
quality assurance.
Our professional geologist has recommended follow-up soil
sampling at 50 metre spacing be conducted in order to further
define the new zones with elevated gold in soil. The eastern
anomaly is previously unrecognized and is open to the south.
The Company is awaiting results of its surface and underground
rock sampling on the Athabasca. We are also expecting a decision
soon on our drill permit application with regard to our Margarita
project in Arizona.
The technical portion of this release has been reviewed by
Qualified Person Laurence Sookochoff, P. Eng.
HELLIX VENTURES (TSX VENTURE: HEL) is engaged in the
identification, acquisition, exploration and development of gold
and silver properties in North America. Hellix has no debt (other
than short-term trade payables), and has positive cash flow from
fossil fuel production in Western Canada. All transactions stated
or referred to herein are expressly subject to TSX Venture Exchange
approval as well as all other applicable regulatory body
approvals.
ON BEHALF OF THE BOARD OF DIRECTORS
HELLIX VENTURES INC.
Frank Underhill, President
The forgoing is for informational purposes only, and is not to
be construed as an offer to buy or sell securities in any
jurisdiction. It may contain forward-looking statements. While the
data compiled by management is from sources deemed to be reliable,
actual future results may vary materially. Hellix Ventures Inc.
does not assume the obligation to update any forward-looking
statement and will not be responsible for any loss arising from the
use of this information. Historically reported results may not be
NI 43-101 compliant and therefore caution should be used in relying
on such statements.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Hellix Ventures Inc. Barry Underhill (604) 683-6657 or
Toll Free: 1-877-430-3113 (604) 684-4407 (FAX)
info@hellixventures.com www.hellixventures.com
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