Heliostar Metals Ltd. (TSX.V: HSTR) (OTCQX: HSTXF)(FRA: RGG1) has unveiled exceptional drill results from its Ana Paula project in Mexico.
The company announced the results on Wednesday which include impressive high-grade gold intercepts. For example, in Hole AP-23-303, the company found 33 meters grading at 16.4 g/t gold, and in Hole AP-23-304, the company found 9.5 meters grading at 25.6 g/t gold.
Heliostar is working on a three-part plan to make Ana Paula even better in 2023. First, it’s finding more gold to increase the “High-Grade Panel”s size. Second, it wants to dig up higher-grade gold early on and keep it going throughout the project. Third, it’s waiting for results from a study that should be done by the end of September.
The main goal is to improve how profitable it is to mine in the High Grade Panel. But now, the company is also looking for new places to explore around Ana Paula to make the whole area even more valuable.
A section through the resource model from 2023 PFS1 highlighting the High Grade Panel (clipped to greater than 5g/t
resource blocks). Heliostar results labelled, with results reported in this release in red boxes. Holes with assays pending are shown
in blue, and Growth and Infill targets areas labelled. Graph via Heliostar.
Read more: Heliostar Metals reports best drill result to date at Mexico’s Ana Paula project
Read more: Heliostar Metals reports high-grade gold intercepts from first drill at Mexico project
The company’s primary focus is on advancing the Ana Paula Project, which they fully own, located in Guerrero, Mexico. Additionally, they are actively collaborating with both the Mexican federal and local governments to secure permits for the San Antonio Gold Project in Baja Sur, Mexico. Furthermore, Heliostar is engaged in exploration activities at the Unga Gold Project situated in Alaska, United States of America.
Regarding the Ana Paula Project, it boasts proven and probable mineral reserves totaling 1,081,000 ounces of gold (comprising 630,000 proven and 451,000 probable ounces) at an average grade of 2.38 g/t of gold. Furthermore, the project holds substantial silver resources, with 2.5 ounces of silver (comprising 1.3 million proven and 1.2 million probable ounces) at an average grade of 5.61 g/t silver.
Ana Paula also possesses measured and indicated resources of 1,468,800 ounces of gold (comprising 703,800 measured and 765,000 indicated ounces) at an average grade of 2.16 g/t gold. In addition, the project hosts 3.6 million ounces of silver (comprising 1.6 million measured and 1.9 indicated ounces) at an average grade of 5.3 g/t silver.
Notably, the Ana Paula Project is already permitted for open-pit mining and boasts significant existing infrastructure, including a portal and a 412-meter-long decline.
“The Ana Paula project continues to deliver exceptional results. Drill results are exceeding expectations at every point. The widths of the intercepts, the consistency in the grades, and the improvements in drill intersections over the PFS resource continue to be impressive,” Heliostar CEO Charles Funk said.
“As we better define the limits of the high-grade panel, today from the down-plunge target area, we believe that there is a clearly significant potential for an increase in total ounces and grade in the upcoming resource update.”
