VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 10, 2012) - HELLIX VENTURES INC. (TSX VENTURE:HEL.V - News)(OTCBB:HLLXF - News) - Frank Underhill, President, announces updates on its two gold projects - the Athabasca near Nelson, British Columbia, Canada, and the Margarita in southern Arizona, USA.
Hellix has just completed its second soil sampling survey on the Athabasca property. This program utilized shorter spaced lines to follow-up on higher grade gold results received from previously unknown zones tested last season. Samples have been sent to an accredited Canadian laboratory for assay.
The Company has received final approval from the Ministry of Energy and Mines on its drill permit application. The drill program will commence following the coordination of all field personnel.
Hellix has filed an application with regulatory bodies to drill up to thirty-nine shallow vertical holes on its Margarita gold property south of Tucson, Arizona. The main focus will be infill drilling and expansion of the Main Margarita Mineralized Zone, with additional holes spotted on the North Hill and Cascabel Zones.
HELLIX VENTURES (TSX VENTURE:HEL.V - News) 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.