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Press Release

April 18, 2012

Hellix Margarita Drill Program Results

HELLIX VENTURES INC. (HEL:TSX.V / HLLXF:OTC) -Vancouver, BC- Frank Underhill, President, announces results from its Margarita gold project in southern Arizona.  Hellix completed a total of twelve vertical HQ size diamond drill holes to a maximum depth of 100 feet to confirm historic near surface test results.

The values in Table 2 below show gold mineralized intervals (minimum three feet) using a 0.3 gram per tonne (0.01 ounces per ton) low cut-off grade.  The highest value obtained was 10.5 g/Mt (.306 oz/t) from Hole #08 over 5 feet.

TABLE 1

Hole ID
Easting
Northing
Projection
Length (ft)
Project Area
HVM12-01
475681
3478965
UTM WGS84
75
MAIN MARGARITA
HVM12-02
475652
3479102
UTM WGS84
51
NORTH MARGARITA
HVM12-03
465705
3478963
UTM WGS84
100
MAIN MARGARITA
HVM12-04
475700
3478943
UTM WGS84
100
MAIN MARGARITA
HVM12-05
475690
3478981
UTM WGS84
100
MAIN MARGARITA
HVM12-06
475728
3479007
UTM WGS84
94
MAIN MARGARITA
HVM12-07
475661
3479095
UTM WGS84
92
NORTH MARGARITA
HVM12-08
475678
3479224
UTM WGS84
92
NORTH HILL
HVM12-09
475711
3479239
UTM WGS84
96
NORTH HILL
HVM12-10
475724
3479221
UTM WGS84
80
NORTH HILL
HVM12-11
475780
3479412
UTM WGS84
81
CASCABEL
HVM12-12
475762
3479414
UTM WGS84
62
CASCABEL

TABLE2

Hole ID
From (ft)
To (ft)
Length (ft)
Length (m)
Au (g/Mt)
Au oz/t
HVM12-01
0
7
7
2.1
no recovery
HVM12-01
10
35
25
7.6
0.75
.022
Including
15
20
5
1.5
1.27
.037
HVM12-01
50
55
5
1.5
0.34
.010
HVM12-01
70
75
5
1.5
0.79
.023
HVM12-02
20
25
5
1.5
0.66
.019
HVM12-03
5
10
5
1.5
3.33
.097
HVM12-03
10
16
6
1.8
Stope
HVM12-03
20
40
20
6.0
1.04
.030
Including
20
25
5
1.5
1.75
.051
Including
35
40
5
1.5
1.03
.030
HVM12-03
45
50
5
1.5
4.82
.141
HVM12-04
0
20
20
6.0
0.71
.021
Including
5
10
5
1.5
1.26
.037
HVM12-04
45
50
5
1.5
1.51
.044
HVM12-04
26
32
6
Stope
HVM12-04
65
75
10
3.0
0.93
0.27
Including
70
75
5
1.5
1.37
.040
HVM12-05
0
5
5
1.5
0.45
0.013
HVM12-06
20
40
20
6.0
2.99
.087
Including
25
30
5
1.5
4.48
.131
Including
30
35
5
1.5
6.19
.181
HVM12-07
0
20
20
6.0
1.12
.032
Including
15
20
5
1.5
3.26
.095
HVM12-07
65
70
5
1.5
0.38
.011
HVM12-08
0
5
5
1.5
1.37
.040
HVM12-08
20
40
20
6.0
3.97
.115
Including
20
25
5
1.5
3.19
.093
Including
25
30
5
1.5
10.50
.306
Including
30
35
5
1.5
1.27
.037
HVM12-09
20
25
5
1.5
0.58
.017
HVM12-09
42
63
21
6.4
1.47
.043
Including
42
45
3
.9
3.00
.088
Including
55
60
5
1.5
1.75
.051
Including
60
63
3
.9
3.22
.094
HVM12-10
5
10
5
1.5
0.96
.028
HVM12-10
20
30
10
3.0
0.52
.015
HVM12-11
5
10
5
1.5
0.34
.010
HVM12-12
No reportable intercepts

 

Holes #01, #03, #04, #05 and #06 were drilled in the Main Margarita Zone.  Each of these with the exception of Hole # 05 gave results of a minimum of 20 feet of surface or near surface continuous mineralization with averaged values ranging  from 0 .75 g/Mt (.022 oz/t) to 2.99 g/Mt (.087 oz/t).  Hole #01 ended in mineralization at a depth of seventy-five feet.  Pulps from Hole #05 will be rerun as an additional check.

Holes # 02 and #07 were drilled in the North Margarita Zone.  Hole #07 gave results of 1.12 g/Mt (.032 oz/t) over a 20-foot length from surface.

Holes #08, #09 and #010 were in the North Hill Zone.  Hole #08 returned the highest value of 10.5 g/Mt (.306 oz/t).  Holes #08 and #09 had 20 and 21 feet respectively of continuous mineralized intervals near surface.

Holes #11 and #12 were drilled in the Cascabel Zone.  The results from this zone were disappointing with only limited siliceous material in core encountered in Hole #11 and none in Hole #12.  Historic holes drilled in this area showed far greater values according to data provided by earlier exploration companies.  The coordinate systems used historically were not standardized, and as such, exact locations of the previously drilled northern zone holes could not be established. Hellix will be utilizing these current assay results in an attempt to pinpoint these holes.

It appears that the intensity of the mineralization is indicative of higher grade values being associated with the flat fault zones separating the volcanics from the underlying quartz monzonite porphyry intrusive.  The better values are associated with generally higher original sulfide concentrations (2-4% pyrite) that have been oxidized.

The Company has also submitted eighteen separate samples from the core to be assayed for specific gravity values to determine the tonnage factor of the rock material.

Hellix intends to file a drill permit application for a minimum of 20 additional holes after analyzing and plotting these results.  The main focus will be drilling on the Main Margarita to properly establish boundaries for the surface and near surface anomalous zones.  Additional holes will be drilled in the northern zones, particularly in the area of Hole #08 where the highest grade sample was reported.

CORE SAMPLING AND ASSAY PROCEDURES

Core samples were collected, selected, handled and delivered to Skyline Laboratories in Tucson, Arizona by an independent Registered Geologist in charge of the QA/QC program on this project.  Sample procedures were followed that meet the requirements for NI 43-101 reporting.  Standards and blanks were inserted at prescribed intervals in each hole as well as a second resample of one reject material interval from each hole.  Standards were provided from a reputable independent geochemical contractor.  This was in addition to the Skyline labs independent internal standards for QA/QC procedures.

Skyline Laboratories is an accredited lab (ISO-TECH 17025-2005).  Each sample was crushed to plus 75%  -10 mesh, split (200-300gms) and pulverized with hardened steel to plus 95%  -150 mesh.  A 30gm sample was selected from the pulverized material and prepared for assay.  Samples were fire assayed for gold with gravimetric finish with detection limits from 0.03 g/Mt to 1000 g/Mt.

The technical portion of this release has been reviewed by Qualified Person Laurence Sookochoff, P. Eng.

HELLIX VENTURES (HEL – TSX.V) 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

HELLIX VENTURES INC. 
Website: www.hellixventures.com   Email: info@hellixventures.com 

Toll Free: 1-877-430-3113  Phone: (604) 683-6657  Fax:  (604) 684-4407

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. 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 or damage arising from the use of this information. Any unauthorized use, distribution or copying of this communication by other than the intended recipient is strictly prohibited. If you have received this correspondence in error, please delete immediately.

 
 

 

           
   
 

 

 
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