Hellix Athabasca Gold in Soil Sampling Results
VANCOUVER, BRITISH COLUMBIA, Sep 16, 2011 (MARKETWIRE via COMTEX) -- 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
