July 26, 2011
Hellix Announces Silver Assays From USBM Program at Margarita
HELLIX VENTURES INC. - HEL:TSX.V/HLLXF:OTC -Vancouver, BC- Frank Underhill, President, is pleased to announce the addition of silver assay results from the USBM sampling corroboration program announced in the Company’s last news release dated June 7, 2011.
Initially, samples were assayed only for gold. The program was designed to corroborate the samples taken by the United States Bureau of Mines in their MLA 24-94 report which included only gold results. After discussions with our geologist and the property vendor, the Company requested the samples also be tested for silver.
For the purpose of clarity, the corresponding gold assays previously reported June 7, 2011 are also included below in ounces per metric tonne (oz/Mt). Anomalous silver values only (6 ppm or greater) are shown as oz/Mt.
Note that these are select samples and were intended to duplicate historic results. They are not indicative of average grades over mineable widths. The samples were selected, handled and hand delivered by a professional geologist to Skyline Labs in Tucson, Arizona. Gold samples were fire assayed with Atomic Absorption finish. Gold assaying over 3000 ppb were re-tested via fire assay with Gravimetric finish. Silver was assayed via Aqua Regia with an Atomic Absorption finish. Samples over 150 ppm were additionally fire assayed with Gravimetric finish.
*Sample BM5 was the only sample of non-siliceous porphyry rock. It is possible the USBM sampled an adit now collapsed and filled in 30 yards to the east of this Hellix re-sampled adit. This result reinforces the observation that only highly silicified rock contains economic gold.
**Conversion using metric units where 34.3 grams per metric tonne (g/Mt) = 1 ounce per metric tonne (oz/Mt).
It is interesting to note that the highest silver values were located outside the four main target areas. Samples BM25 through BM27 were taken from the northern portion of the claim block where the rock samples were less silicified than the target areas. The highest grade silver sample BM25 (246 g/Mt – 7.17 oz/Mt) was taken from this area. Samples BM21 through BM23 were located south of the target areas and all had values greater than one ounce per ton (34.3 grams per metric tonne).
Hellix is very encouraged to find anomalous silver in addition to anomalous gold in locations extending outside our four main Margarita target areas. As a result of these latest findings, pertinent samples will be assayed for both gold and silver.
Hellix is planning a work program on its Athabasca property near Nelson, British Columbia. Details will be available shortly.
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.
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 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.