October 4, 2012
Hellix Athabasca Gold Project UpdateHELLIX VENTURES INC. (HEL:TSX.V / HLLXF:OTC) -Vancouver, BC- Frank Underhill, President, announces updates on its Athabasca project near Nelson, British Columbia, Canada.
Hellix has received results on its soil sampling program, initiated after several areas of elevated gold-in-soil geochemistry were found in 2011 (see Hellix news release dated September 16, 2011).
The 2012 infill sampling program within the eastern claim block area continues to return significant values of gold-in-soil, with several individual samples returning over 1000 ppb gold. Some samples may have been influenced by material released from the historic tram line that transferred ore from the historic Athabasca and Venus Mines to the mill site transecting part of the soil sample grid. This reasoning does not hold true however, for the significant results this program obtained at a distance of one hundred to two hundred metres (three hundred thirty to six hundred sixty feet) to the east of the old tram line. Further investigation of this area is warranted.
Hellix also announces it has assembled all personnel for its Athabasca drill program first announced March 28, 2012. Drilling will commence very shortly.
Soil Sampling Procedures
Sampling was conducted using pick and shovel to obtain "B" horizon soil samples. Sample positions were surveyed in the field with stations at 25 metre intervals. Line spacing was 100 metres, with 50 metre spaced lines in detailed areas. All samples were shipped to Acme Laboratories in Vancouver, BC, where they underwent the lab's IF-03 process, where a 30 gram split from the prepared sample is analyzed for 37 elements by ICP-MS methodology.
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.
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