September 11, 2007
HELLIX FINALIZES OPTION AGREEMENT ON MINITAS CONCESSIONS, DURANGO, MEXICO
HELLIX VENTURES INC. (HEL-TSX.V) The Company is pleased to announce the finalization of an Option Agreement on the Minitas Concession Group, which includes the La Cobriza Mine, located in San Dimas District, Durango State, Mexico. All Mexican Government and Mexican Regulatory forms have been completed and filed, and property titles have been verified via our legal counsel in Mexico. The 43-101 Technical Report on the Minitas Concessions by Sookochoff Consultants Inc. has been filed with the Toronto Stock Exchange for review.
The Minitas property includes three principal N70E trending veins, two of which have been traced for 700 metres and 400 metres respectively through historic surface workings. The property has undergone sporadic exploration and minor exploitation dating from the Spanish era. Exploration consists of direct headings driven along the veins with several levels and cross-cuts in the Cobriza Mine. A decline has been driven within the vein beneath the principal old workings for some 35 metres to demonstrate the down-dip continuation of the vein. Other workings on the property include the Leona adits, and the Mina Grande workings. The property, to date, has not utilized any modern mining or exploration methods, nor has it ever been drilled.
The concessions are located within four kilometres of the town of Tayoltita. Goldcorp's Luismin operates a 2,100 tonne per day mill here, processing "ore" from the surrounding San Dimas mines. Luismin owns and operates two San Dimas area gold-silver mines, from which 1,085,700 tonnes of ore were milled producing 208,400 ounces of gold and 8,931,700 ounces of silver in 2006.
Goldcorp's Luismin concessions surround the HELLIX Minitas Concessions. Luismin is currently drilling approximately 1,500 metres from the Minitas, as witnessed by Qualified Person John Jenks, P. Geo. on one of several property visits in August, 2007.
Laurence Sookochoff, P. Eng. states in his 43-101 Technical Report, "The stratigraphy, structural geology and style of mineralization seen at the Cobriza coupled with results from district scale academic and laboratory studies (many of which include the Cobriza), strongly indicate that Cobriza is an integral part of the world class San Dimas epithermal system. Historic data, that of the three samples taken from the Cobriza property by Dr. Megaw, and the author's 2007 sample results, demonstrate that the Cobriza veins carry high gold and silver grades on the same order as mined in Luismin's Tayoltita Mine."
The Company is presently reviewing several other properties within close proximity to the Minitas, which are exclusively available to HELLIX.
HELLIX VENTURES (HEL-TSX.V) is engaged in the identification, acquisition, exploration and development of gold and silver properties in Mexico. 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.
This release has been reviewed by Qualified Person John Jenks, P. Geo.
ON BEHALF OF THE BOARD OF DIRECTORS
HELLIX VENTURES INC.
Frank Underhill
President
HELLIX VENTURES INC.
Email: info@hellixventures.com
Toll Free: 1-877-430-3113 Phone: (604) 683-6657 Fax: (604) 684-4407
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
