Heliostar Drills 56.6 Metres Grading 2.88 g/t Oxide Gold from 68 Metres at the La Colorada Mine, Sonora, Mexico

Heliostar Drills 56.6 Metres Grading 2.88 g/t Oxide Gold from 68 Metres at the La Colorada Mine, Sonora, Mexico

HIGHLIGHTS:

  • 56.6m grading 2.88 g/t gold from 68m
  • 23.2m grading 14.4 g/t gold from surface (including 0.85m grading 381 g/t gold)
  • 4.05m grading 17.8 g/t gold from 136m
  • 8.7m grading 6.68 g/t gold from 56m
  • 18.85m grading 3.54 g/t gold from 95m
  • Deeper drilling at the Creston Pit shows a combination of wide intervals and high grades
  • Results will be incorporated in an updated technical study for La Colorada expected to be released mid-2025
  • The focus of drilling at La Colorada will shift to stockpiles and then high-grade veins beneath and along strike from the open pits

Heliostar Metals Ltd. (TSXV: HSTR) (OTCQX: HSTXF) (FSE: RGG1) ("Heliostar" or the "Company") is pleased to announce additional results from an expanded 16,211 metre drilling program at the La Colorada Mine in Sonora, Mexico. La Colorada restarted production in early January 2025, and the current drill program is intended to expand the mineral reserves ahead of an updated technical report and expansion decision planned for mid-2025.

Heliostar CEO, Charles Funk, commented, "The turnaround at La Colorada has been a real strength for Heliostar. In the three months since the acquisition, the Company has restarted production and established a mine life of 6.5 years. This drill program has returned a powerful combination of wide gold intervals and high-grade veins, leading to our expanding the program to a total of 104 drill holes. The intervals reported to date are intended to drive stronger economics in an updated technical report planned for mid-2025. A new drilling program at La Colorada will now focus on defining additional mineralized material from historic stockpiles, which we believe can quickly be brought into production. We will then pivot to exploration for underground targets in the second half of the year."

Drill Results Summary

Mineralization at La Colorada's Creston Pit is predominantly hosted in three veins: the North, Intermediate and South Veins (Figure 1). These veins trend northeast-southwest to east-west, dip northward and are surrounded by halos of smaller mineralized veins. The Creston Pit has historically mined oxide gold and silver from all three of these veins. A current Probable Mineral Reserve of 312,000 ounces of gold grading 0.76 grams per tonne (g/t) gold and 5,074,000 ounces of silver at 10.1 g/t silver is defined at the Creston Pit1.

A technical review of expansion potential identified two opportunities for reserve growth, these being near surface extensions of known veins with little or no drill data and exploring the under-sampled mineralization beneath the pit. Both opportunities were defined using historical drilling, blasthole data, mining shapes, and the geological model.

Cannot view this image? Visit: https://images.newsfilecorp.com/files/7729/252216_7a4b3800247fdbe2_003.jpg

Figure 1: Plan view of the Creston Pit showing historic drilling, blast hole samples and Heliostar drillholes. Selected intercepts are labelled.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7729/252216_7a4b3800247fdbe2_003full.jpg

Cannot view this image? Visit: https://images.newsfilecorp.com/files/7729/252216_7a4b3800247fdbe2_004.jpg

Figure 2: Cross-section view looking west at the eastern end of the Creston Pit. The section shows historic drilling and new Heliostar drillhole results below the planned pit boundary.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7729/252216_7a4b3800247fdbe2_004full.jpg

Blast hole data clearly shows the potential for the continuation of veins at shallow depths that were previously modelled as waste. They contain elevated gold grades that continue to the edge of the pit walls where they remain open for expansion (Figures 1 and 2). At depth, drill spacing is wider than the area above. Additional drilling allows for improved estimation of grade and continuity.

The Company has completed 104 holes totalling 16,211 metres in the program to date. This is an expansion on the planned 12,500 metre program. This release reports results for 25 new holes at Creston, two at Gran Central and four metallurgical holes completed at Veta Madre. The majority of the new drill holes targeted extensions of the North, Intermediate and South Veins in areas where drilling is widely spaced yet, within the current Creston resource. They aim to add ounces to the overall Creston resources and reserves.

Assay results show narrow to wide, low- to high-grade oxide gold intercepts. Targeted vein zones consistently return intercepts above the 0.16 g/t gold-equivalent cutoff grade of reserves within the Creston pit. The results may increase the tonnes and grade of mineralization in an updated pit shell. If so, that would add to total reserves in an updated technical report.

Next Steps

Results from the current drill program are being incorporated into a resource model. They will support a reserve update to be published with a technical report in mid-2025, which will include an updated mine plan on any additional economic material defined to date.

This drill program is designed to increase the volume of rock containing potentially economic gold mineralization, which, in turn, could improve the overall mine economics. Any zones currently modelled as waste but subsequently modelled as ore from this program would have the double benefit of reducing the overall strip ratio of the Creston pit expansion and adding ounces to the mine plan.

That, in-turn, could reduce the up-front capital requirements for the restart of operations and improve the IRR and NPV of the updated technical report compared to the technical report released in January 2025. This upcoming study will be the basis of an investment decision for the expansion of open pit mining production at La Colorada.

Following the successful completion of this drill program, the Company will now change the focus of drilling to test historic stockpiles. If drilling is successful, it may provide additional resources and cash flow similar to that currently being generated from the producing Junkyard reserve. The intention is to produce from these low-cost stockpiles to maximize cash flow ahead of primary mining from the open pit pushbacks.

In the second half of 2025, the focus will shift to stepping out on the high-grade vein intercepts beneath and along strike from the open pits. The results received to date provide optimism for the potential of an underground future at La Colorada (see our April 9, 2025, press release here). In addition, the Company will advance property scale exploration targets with mapping and geophysics to define drill targets beyond the currently mined areas.

Quarterly Review and Future Plans Update

The Company presented a live webinar on Tuesday, May 13th, to provide an in-depth review of Heliostar's recently reported preliminary interim results for Q1 2025.

The Company also provided a forward-looking overview of what to expect in Q2 and beyond. This included how Heliostar plans to leverage operational cash flow to boost annual gold production from its two operating mines and advance the development of the Ana Paula project.

A replay of the webinar can be found on this link.

La Colorada Mineral Reserves Statement

Classification Zone AuEq
Cut-off
(g/t)
Tonnes
(kt)
Gold Grade
(g/t Au)
Silver
Grade
(g/t Ag)
Contained
Gold 

(koz)
Contained Silver 
(koz)
Probable El Crestón 0.160 12,841 0.76 10.1 312 4,181
Veta Madre 0.175 1,905 0.70 3.1 43 189
La Chatarrera 0.164 3,413 0.20 6.4 22 704
Total
18,159 0.65 8.69 377 5,074

 

1 La Colorada Operations, Sonora, Mexico, NI 43-101 technical report (the "Report") is dated January 11, 2024, has an effective date of December 4, 2024

Diamond Drilling Results Table

HoleID From
(metres)
To
(metres)
Interval
(metres)
Au
(g/t)
Ag
(g/t)
% True
Width
Comment
24-LCDD-290 290.75 310.7 19.95 2.51 98.0 83.4 South Vein
including 301.25 306.5 5.25 5.79 115 83.4 South Vein
25-LCDD-291 1.0 13.75 12.75 0.91 14.2 100 Intermediate Vein
and 26.5 36.0 9.5 0.47 4.4 99.6 Intermediate Vein
and 40.5 46.5 6.0 0.65 3.6 99.6 Intermediate Vein
and 68.0 124.6 56.6 2.88 6.9 94.1 Intermediate Vein

68.0 124.6 56.6 2.18 6.9 94.1 Top-cut to 23 g/t Au
including 111.85 116.9 5.05 9.22 19.4 96.4 South Vein
25-LCDD-292 2.7 33.95 31.25 0.65 34.7 85.4 Intermediate Vein
and 41.75 51.0 9.25 0.23 33.6 88.7 Intermediate Vein
and 124.9 145.8 20.9 3.63 23.8 82.8 South Vein

124.9 145.8 20.9 3.03 23.8 82.8 Top-cut to 20 g/t Au
including 135.75 139.8 4.05 17.8 99.9 82.8 South Vein

135.75 139.8 4.05 14.6 99.9 82.8 Top-cut to 20 g/t Au
25-LCDD-293 48.35 55.85 7.5 1.00 5.2 77.1 Intermediate Vein
and 68.5 79.25 10.75 1.52 1.8 65.1 Intermediate Vein
and 92.0 100.7 8.7 2.41 8.4 77.8 Intermediate Vein
25-LCDD-294 0.0 15.3 15.3 0.57 28.1 100 Intermediate Vein
and 52.4 82.2 29.8 2.22 22.3 87.8 Intermediate Vein

52.4 82.2 29.8 1.62 22.3 87.8 Top-cut to 23 g/t Au
including 56.05 64.75 8.7 6.68 62.8 95.1 Intermediate Vein
including 56.05 64.75 8.7 4.63 62.8 95.1 Top-cut to 23 g/t Au
and 103.0 120.4 17.4 1.08 2.2 99.8 South Vein
25-LCDD-295 24.05 29.6 5.55 0.21 31.3 87.6 South Vein
and 35.55 38.35 2.8 0.17 28.0 85.7 South Vein
25-LCDD-296 0.0 29.3 29.3 1.08 7.2 88.9 Intermediate Vein
including 5.5 13.65 8.15 3.25 9.7 93.0 Intermediate Vein
and 59.2 84.8 25.6 0.66 4.8 80.9 Intermediate Vein
and 118.1 135.4 17.3 1.87 9.8 96.2 South Vein
including 121.8 124.8 3.0 6.73 25.4 96.2 South Vein
25-LCDD-297 29.9 46.0 16.1 0.29 17.4 85.1 Intermediate Vein
and 99.7 127.6 27.9 0.62 12.4 79.0 Intermediate Vein
25-LCDD-298 8.6 20.25 11.65 2.01 16.2 99.3 Intermediate Vein
and 77.8 119.05 41.25 1.87 4.9 98.3 South Vein
including 95.15 114.0 18.85 3.54 4.8 98.3 South Vein
25-LCDD-299 99.9 108.15 8.25 0.21 13.4 80.6 Gran Central Vein
and 114.4 118.0 3.6 0.53 19.0 80.6 Gran Central Vein
25-LCDD-300 0.0 23.2 23.2 14.4 21.8 94.5 Intermediate Vein

0.0 23.2 23.2 1.28 21.8 94.5 Top-cut to 23 g/t Au
including 9.15 10.0 0.85 381.0 167 94.5 Intermediate Vein

9.15 10.0 0.85 23.0 167 94.5 Top-cut to 23 g/t Au
and 38.0 51.65 13.65 0.93 12.7 87.6 Intermediate Vein
and 66.95 85.2 18.25 0.66 2.1 87.5 Intermediate Vein
and 104.9 116.25 11.35 1.47 1.8 91.1 South Vein
and 122.5 129.5 7.0 1.18 8.1 91.1 South Vein
25-LCDD-301 35.0 47.4 12.4 0.54 71.8
Gran Central Vein

 

Table 2: Significant Drill Intersections.

RC Drilling Results Table

HoleID From
(metres)
To
(metres)
Interval
(metres)
Au
(g/t)
Ag
(g/t)
% True
Width
Comment
24-LCRC-757 No significant results
24-LCRC-758 No significant results
25-LCRC-759 No significant results
25-LCRC-760 No significant results
25-LCRC-761 No significant results
25-LCRC-762 50.3 61.0 10.7 2.01 2.8 98.9 North Vein
including 59.5 61.0 1.5 13.3 4.0 98.9 North Vein
25-LCRC-763 138.7 144.8 6.1 0.42 18.8 100 North Vein
and 167.6 179.8 12.2 0.24 4.5 98.9 Intermediate Vein
25-LCRC-765 No significant results
25-LCRC-766 109.7 120.4 10.7 0.77 123 94.7 Intermediate Vein
25-LCRC-767 47.2 53.3 6.1 0.34 51.7 99.0 North Vein
25-LCRC-768 47.2 57.9 10.7 0.62 82.1 95.0 North Vein
25-LCRC-769 245.4 251.5 6.1 7.94 3.2 80.5 Intermediate Vein

245.4 251.5 6.1 6.36 3.2 80.5 Top-cut to 23 g/t Au
25-LCRC-770 121.9 128.0 6.1 0.47 5.9 99.1 North Vein
and 163.1 169.2 6.1 0.75 4.1 73.7 North Vein
25-LCRC-771 No significant results
25-LCRC-772 No significant results

 

Table 3: Significant Drill Intersections.

Veta Madre Metallurgical Drilling Results Table

HoleID From
(metres)
To
(metres)
Interval
(metres)
Au
(g/t)
Ag
(g/t)
% True
Width
Comment
24-LCMET-19 43.8 112.5 68.7 0.73 3.3 74.7
24-LCMET-20 108.6 118.65 10.05 1.00 1.3 69.1
and 138.5 223.75 85.25 1.14 4.3 69.1

138.5 223.75 85.25 1.01 4.3 69.1 Top-cut to 7 g/t Au
including 149.15 162.8 13.65 3.47 3.4 69.1

149.15 162.8 13.65 2.76 3.4 69.1 Top-cut to 7 g/t Au
24-LCMET-21 166.0 237.0 71 1.26 5.1 79.2

166.0 237.0 71 1.24 5.1 79.2
including 223.1 224.4 1.3 8.21 3.4 79.2
including 223.1 224.4 1.3 7.00 3.4 79.2
24-LCMET-22 185.0 247.45 62.45 0.64 6.7 67.2

 

Table 4: Significant Drill Intersections.

Drilling Coordinates Table

Hole ID Northing
(NAD27 CONUS
Zone 12N)
Easting
(NAD27 CONUS
Zone 12N)
Elevation
(metres)
Azimuth
(°)
Inclination
(°)
Length
(metres)
25-LCDD-290 542264 3185808 360.4 180 -43 318.25
25-LCDD-291 542641 3185777 182.7 180 -12 154.95
25-LCDD-292 542415 3185710 221.1 180 -49 151.65
25-LCDD-293 542775 3185810 246.0 180 -70 157.25
25-LCDD-294 542641 3185777 182.3 180 -26 132.65
25-LCDD-295 542184 3185598 381.2 215 -40 84.1
25-LCDD-296 542641 3185777 183.2 180 +2 151.25
25-LCDD-297 542425 3185721 221.1 190 -55 138.15
25-LCDD-298 542653 3185788 182.7 170 -20 129.95
25-LCDD-299 540979 3185503 420.4 180 -60 138.05
25-LCDD-300 542653 3185788 183.3 170 -3 150.85
25-LCDD-301 540997 3185454 416.5 180 -55 72.6
24-LCMET-19 543965 3185611 346.0 184 -45 126.0
24-LCMET-20 543890 3185658 418.4 163 -51 223.75
24-LCMET-21 543880 3185639 419.6 180 -47 237.0
24-LCMET-22 543890 3185659 418.4 173 -55 247.45
24-LCRC-757 542065 3185543 458.7 180 -45 128.0
24-LCRC-758 542065 3185621 455.7 180 -45 158.5
25-LCRC-759 542748 3185451 433.6 180 -45 100.6
25-LCRC-760 542750 3185390 439.7 180 -45 152.4
25-LCRC-761 543080 3185936 444.1 180 -45 195.1
25-LCRC-762 543100 3185898 442.4 175 -50 167.6
25-LCRC-763 543025 3185964 460.6 180 -45 213.4
25-LCRC-764 542214 3185673 373.9 180 -50 121.9
25-LCRC-765 542188 3185623 380.2 215 -44 85.3
25-LCRC-766 542215 3185704 371.3 168 -44 176.8
25-LCRC-767 542218 3185725 369.6 180 -55 103.6
25-LCRC-768 542222 3185726 369.5 155 -45 100.6
25-LCRC-769 542975 3185996 472.7 178 -45 256.0
25-LCRC-770 542900 3186006 476.9 180 -49 268.2
25-LCRC-771 542465 3185371 415.1 179 -45 140.2
25-LCRC-772 542465 3185311 433.0 179 -50 152.4

 

Table 5: Drill Hole Details

Quality Assurance / Quality Control

Core holes were drilled with PQ, HQ, and NQ tools and drill core was sawn in half with one half submitted for analysis and one half retained as a record. Reverse circulation (RC) holes were drilled with 5-inch and 5-1/4 inch tools. Reverse circulation samples with a mass of >20kg were split into one-quarter, which was submitted for analysis. Reverse circulation samples with a mass of ≤20kg were split into half which was submitted for analysis. Three-quarters or one-half of the samples, respectively were retained as a record. Drill samples were shipped to ALS Limited in Hermosillo, Sonora, Mexico, for sample preparation and for analysis at the ALS laboratory in North Vancouver. The Hermosillo and North Vancouver ALS facilities are ISO/IEC 17025 certified. Gold was assayed by 30-gram fire assay with atomic absorption spectroscopy finish, and overlimits were analyzed by 30-gram fire assay with gravimetric finish.

Control samples comprising certified reference and blank samples were systematically inserted into the sample stream and analyzed as part of the Company's quality assurance / quality control protocol.

Statement of Qualified Person

Gregg Bush, P. Eng. and Stewart Harris, P.Geo., the Company's Qualified Persons, as such term is defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects, have reviewed the scientific and technical information that forms the basis for this news release and have approved the disclosure herein. Mr. Bush is employed as Chief Operating Officer of the Company, and Mr. Harris is employed as Exploration Manager of the Company.

Technical Report Reference

1 La Colorada Operations, Sonora, Mexico, NI 43-101 Technical Report (the "Report") is dated January 11, 2024, has an effective date of December 4, 2024 and was prepared for Heliostar Metals Inc. by Mr. Todd Wakefield, RM SME, Mr. David Thomas, P.Geo., Mr. Jeffrey Choquette, P.E., Mr. Carl Defilippi, RM SME, and Ms. Dawn Garcia, CPG. The Report can be found under the Company's profile on SEDAR+ (www.sedarplus.ca) and on Heliostar's website (www.heliostarmetals.com).

About Heliostar Metals Ltd.

Heliostar is a gold mining company with production from operating mines in Mexico. This includes the La Colorada Mine in Sonora and the San Agustin Mine in Durango. The Company also has a strong portfolio of development projects in Mexico and the USA. These include the Ana Paula project in Guerrero, the Cerro del Gallo project in Guanajuato, the San Antonio project in Baja Sur and the Unga project in Alaska, USA.

FOR ADDITIONAL INFORMATION PLEASE CONTACT:

Charles Funk
President and Chief Executive Officer
Heliostar Metals Limited
Email: charles.funk@heliostarmetals.com
Phone: +1 844-753-0045
Rob Grey
Investor Relations Manager
Heliostar Metals Limited
Email: rob.grey@heliostarmetals.com
Phone: +1 844-753-0045

 

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.

Cautionary Statement Regarding Forward-Looking Information

This news release includes certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" under applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target", "plan", "forecast", "may", "would", "could", "schedule" and similar words or expressions, identify forward-looking statements or information. These forward-looking statements or information relate to, among other things, the open pit intervals are intended to drive stronger economics in an updated technical report planned for mid-2025. Drilling at La Colorada will now be undertaken to define additional stockpile material and then we will pivot to exploration for underground targets in the second half of the year and, leverage operational cash flow to boost annual gold production from its two operating mines and advance the development of the Ana Paula project, the results received to date provide real optimism for the potential of an underground future at La Colorada.

Forward-looking statements and forward-looking information relating to the terms and completion of the Facility, any future mineral production, liquidity, and future exploration plans are based on management's reasonable assumptions, estimates, expectations, analyses and opinions, which are based on management's experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. Assumptions have been made regarding, among other things, the receipt of necessary approvals, price of metals; no escalation in the severity of public health crises or ongoing military conflicts; costs of exploration and development; the estimated costs of development of exploration projects; and the Company's ability to operate in a safe and effective manner and its ability to obtain financing on reasonable terms.

These statements reflect the Company's respective current views with respect to future events and are necessarily based upon a number of other assumptions and estimates that, while considered reasonable by management, are inherently subject to significant business, economic, competitive, political, and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements or forward-looking information and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: precious metals price volatility; risks associated with the conduct of the Company's mining activities in foreign jurisdictions; regulatory, consent or permitting delays; risks relating to reliance on the Company's management team and outside contractors; risks regarding exploration and mining activities; the Company's inability to obtain insurance to cover all risks, on a commercially reasonable basis or at all; currency fluctuations; risks regarding the failure to generate sufficient cash flow from operations; risks relating to project financing and equity issuances; risks and unknowns inherent in all mining projects, including the inaccuracy of reserves and resources, metallurgical recoveries and capital and operating costs of such projects; contests over title to properties, particularly title to undeveloped properties; laws and regulations governing the environment, health and safety; the ability of the communities in which the Company operates to manage and cope with the implications of public health crises; the economic and financial implications of public health crises, ongoing military conflicts and general economic factors to the Company; operating or technical difficulties in connection with mining or development activities; employee relations, labour unrest or unavailability; the Company's interactions with surrounding communities; the Company's ability to successfully integrate acquired assets; the speculative nature of exploration and development, including the risks of diminishing quantities or grades of reserves; stock market volatility; conflicts of interest among certain directors and officers; lack of liquidity for shareholders of the Company; litigation risk; and the factors identified under the caption "Risk Factors" in the Company's public disclosure documents. Readers are cautioned against attributing undue certainty to forward-looking statements or forward-looking information. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or forward-looking information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements or information, other than as required by applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/252216

News Provided by Newsfile via QuoteMedia

HSTR:CC
Heliostar Metals

Heliostar Metals Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
Heliostar Metals (TSXV:HSTR)

Heliostar Metals


Keep reading...Show less

Gold miner with a portfolio of producing and developing gold projects in Mexico.

Heliostar Drills 30.2m Grading 6.29g/t Gold in First Resource Conversion Holes at Ana Paula

Heliostar Drills 30.2m Grading 6.29g/t Gold in First Resource Conversion Holes at Ana Paula

HIGHLIGHTS:

  • 30.20m grading 6.29g/t gold from 195.8m
  • 14.75m grading 13.6g/t gold from 153.5m
  • 20.95m grading 6.67g/t gold from 113.5m
  • 12.20m grading 8.72g/t gold from 344.5m
  • Consistent gold mineralization at the western end of the High Grade Panel
  • First results from a 15,000 metre program continuing throughout 2025

Heliostar Metals Ltd. (TSXV: HSTR,OTC:HSTXF) (OTCQX: HSTXF) (FSE: RGG1) ("Heliostar" or the "Company") is pleased to announce its first results from the current 15,000 metre drill program at its 100% owned Ana Paula project in Guerrero, Mexico. The program has the primary goal of converting inferred ounces to higher confidence classifications, as well as supporting the ongoing Feasibility Study and testing the next exploration targets around the Ana Paula deposit.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Heliostar to Restart Mining Operations and Invest in Growth at Its San Agustin Mine, Durango

Heliostar to Restart Mining Operations and Invest in Growth at Its San Agustin Mine, Durango

Highlights:

  • Mining operations to restart at the San Agustin Mine in H2, 2025, with initial production expected in Q4
  • Operations analysis supports a post-tax NPV5% of US$35.25M, IRR of 548%, CAPEX of US$4.2M and an output of 45,000 total gold ounces produced at a US$3,000/oz gold price
  • Restart provides confidence for the first significant Heliostar investment into the future of San Agustin, aimed at extending mine life
  • Drilling will commence immediately in H2, 2025, on oxide expansion targets, followed by sulphide porphyry/breccia exploration

Heliostar Metals Ltd. (TSXV: HSTR,OTC:HSTXF) (OTCQX: HSTXF) (FSE: RGG1) ("Heliostar" or the "Company") is pleased to announce the restart of mining operations at San Agustin, located in the state of Durango. Heliostar presently produces gold from residual leaching at the San Agustin Mine. The Company will increase production by mining the mineral reserve, principally in an area the Company describes as the Corner Area. This is a key milestone to unlock increased value from San Agustin.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Heliostar Metals to Present at the Metals & Mining Virtual Investor Conference July 24

Heliostar Metals to Present at the Metals & Mining Virtual Investor Conference July 24

Heliostar Metals (TSX.V: HSTR, OTCQX: HSTXF, FRA: RGG1) (" Heliostar " or the " Company ") is pleased to announce that it is participating in the Metals & Mining Virtual Investor Conference hosted by VirtualInvestorConferences.com on July 24, 2025. Vice President Investor Relations & Development Stephen Soock will present live to share how the Company's combination of immediate cash flow, meaningful exploration upside, and high-grade resource development set the stage for it to become the next mid-tier gold producer.

DATE : July 24
TIME: 11:00am EDT
LINK: REGISTER HERE
Available for 1x1 meetings: July 24, 28 and 29

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Heliostar Reports Multiple Stockpile Assays Including 10.7m of 1.81 g/t Gold at La Colorada Mine

Heliostar Reports Multiple Stockpile Assays Including 10.7m of 1.81 g/t Gold at La Colorada Mine

HIGHLIGHTS:

  • 10.7m grading 1.81 g/t gold from surface
  • 19.8m grading 0.62 g/t gold from 4.6 metres
  • 13.7m grading 0.61 g/t gold from surface
  • 9.10m grading 0.87 g/t gold from surface
  • Additional drilling success at the Truckshop stockpile fits La Colorada's strategy to maximize cashflow ahead of pit expansions
  • Definition of stockpiles ongoing at La Colorada with next drilling planned at El Dorado

Heliostar Metals Ltd. (TSXV: HSTR) (OTCQX: HSTXF) (FSE: RGG1) ("Heliostar" or the "Company") is pleased to announce results from the Truckshop stockpile at its operating La Colorada Mine in Sonora, Mexico. This is part of an ongoing drilling program across multiple targets at the mine. La Colorada has been profitably producing precious metals from stockpiles through the first half of 2025.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Heliostar Delivers Strong First Quarter 2025 Results

Heliostar Delivers Strong First Quarter 2025 Results

Q1 2025 Operational and Financial Highlights

  • Gold equivalent ounce ("GEO") production of 9,082 GEOs and sales of 8,034 GEOs for Q1 2025. The Company is on track to achieve annual sales guidance of 31,000 to 41,000 GEOs for 2025
  • Preliminary interim consolidated cash costs of US$1,175-1,275 per GEOs sold and consolidated all-in sustaining costs ("AISC") of US$1,375-1,475 for Q1 2025. The Company is on track to achieve its annual cash cost guidance range of US$1,800-1,900 per GEOs sold and AISC of US$1,950-2,100 per GEOs sold
  • Average sale price of US$2,875 per ounce of gold for Q1 2025
  • Closing of the quarter with US$27M in cash and no debt

Heliostar Metals Ltd. (TSXV: HSTR) (OTCQX: HSTXF) (FSE: RGG1) ("Heliostar" or the "Company") is pleased to report preliminary interim results for the three months ended March 31, 2025 ("Q1 2025"), which corresponds to the fourth quarter of Heliostar's fiscal reporting year 2024-25.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Harvest Gold Announces Mosseau Drill Program Update; Urban Barry Regional Till Program Completed

Harvest Gold Announces Mosseau Drill Program Update; Urban Barry Regional Till Program Completed

(TheNewswire)

Harvest Gold Corporation

Vancouver, British Columbia TheNewswire - August 28, 2025 ‑ Harvest Gold Corporation (TSXV: HVG,OTC:HVGDF) (" Harvest Gold " or the " Company ") is pleased to announce that its diamond drill program at the Mosseau Gold Project is well underway, with the first five holes successfully completed (see Figure 3).

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Kobo Resources to Recommence 2025 Drill Program at the Kossou Gold Project; Appoints Industry Veteran to Support Technical and Regional Growth Strategy

Kobo Resources to Recommence 2025 Drill Program at the Kossou Gold Project; Appoints Industry Veteran to Support Technical and Regional Growth Strategy

  • 12,000 - 15,000 m diamond drill program to expand gold zones and advance toward a maiden Mineral Resource Estimate at the Kossou Gold Project
  • New strategic advisor appointed to support technical execution and identify regional growth opportunities in Côte d'Ivoire and across West Africa
  • Strong investor demand leads to upsized private placement, increasing from $3.0 million to approximately $4.2 million

Kobo Resources Inc. (" Kobo " or the " Company ") ( TSX.V: KRI ) is pleased to announce that it will commence up to 10,000 - 15,000 metre (" m ") of diamond drill program at its 100%-owned Kossou Gold Project (" Kossou ") in Côte d'Ivoire on September 4, 2025, with two diamond drill rigs mobilized to site. In addition, the Company is strengthening its strategic and technical capabilities through the appointment of a highly experienced industry veteran as a consultant and advisor to support its growth initiatives across West Africa.

News Provided by Business Wire via QuoteMedia

Keep reading...Show less
NevGold Announces Entry Into Standstill With GoldMining

NevGold Announces Entry Into Standstill With GoldMining

Nevgold Corp. (" NevGold " or the " Company ") ( TSXV:NAU,OTC:NAUFF) (OTCQX:NAUFF) (Frankfurt:5E50 ) is pleased to announce that it has entered into a standstill agreement with GoldMining Inc. (" GoldMining "), pursuant to which GoldMining has agreed not to, directly or indirectly, sell common shares of NevGold through open market transactions for a period of 18 months subject to certain customary exceptions. GoldMining holds, and has control and direction over, 19,073,350 common shares, representing approximately 16.7% of the Company's outstanding common shares.

NevGold CEO, Brandon Bonifacio, comments: "We are pleased to execute this Standstill Agreement with GoldMining, which prohibits selling, transferring or disposing NevGold shares for a period of 18 months through open market transactions. The Company will have an extremely active end to 2025, and we will have more updates out shortly from our Limousine Butte (oxide gold-antimony), Nutmeg Mountain (oxide gold), and Zeus (copper) projects."

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Cartier Launches Ambitious 100,000-m Drill Program on Cadillac

Cartier Launches Ambitious 100,000-m Drill Program on Cadillac

Cartier Resources Inc. (″ Cartier ″ or the ″ Company ″) (TSXV: ECR,OTC:ECRFF; FSE:6CA) is pleased to announce it has started the fully funded 100,000-metre diamond drilling program on its 100%-owned Cadillac Project in Quebec. Strategically located in the heart of the prolific Val-d'Or gold belt, the project benefits from exceptional proximity to mining and milling infrastructure and qualified workforce.

" This is the most extensive drilling program ever undertaken on Cadillac and a turning point for Cartier. Our objective is clear: to prove Cadillac's scale as a major gold camp. With this campaign now underway, we are confident the results will highlight the project's potential to deliver meaningful value for our shareholders ." – Philippe Cloutier, President and CEO of Cartier.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
1911 Gold Commences PEA on True North Project and Provides Update on Underground Progress

1911 Gold Commences PEA on True North Project and Provides Update on Underground Progress

1911 Gold Corporation (" 1911 Gold " or the " Company ") (TSXV: AUMB,OTC:AUMBF) (OTCQB: AUMBF) (FRA: 2KY) is pleased to announce that it has engaged AMC Consultants ("AMC") of Toronto, Canada to complete a Preliminary Economic Assessment ("PEA") study on the Company's wholly-owned True North Gold Project, located in Manitoba .

The PEA will evaluate the potential restart of underground mining operations at the True North mine, utilizing the existing permitted 1,300 tonne-per-day processing facility in Bissett . AMC will assess development and mining method scenarios based on the Company's current mineral resource estimate and extensive underground infrastructure, while referencing the Company's own internally developed mine plans. While the PEA will not incorporate results from recent and planned drilling, management believes that continued exploration success may provide significant upside beyond the scope of this assessment.

"Initiating a PEA with AMC is a critical milestone as we advance the True North Mine toward a restart," stated Shaun Heinrichs , President and CEO of 1911 Gold. "We intend to use the results of the PEA, together with delineation drilling to be completed in the fall on two bulk sample target zones, to finalize plans for a trial production run in mid-2026. This initial trial mining campaign, expected to last 3 - 5 months, will provide an important step toward demonstrating the planned mining and development methods, as well as confirm the resource and economics."

The Company anticipates delivering the PEA by the first quarter of 2026, which will provide the foundation for redevelopment planning and engagement with key stakeholders.

Underground Status Update

Momentum underground continues to build, with rehabilitation work nearing completion on Level 16 and other supporting levels in preparation for the next phase of drilling. Hancon Mining Ltd. mobilized crews to the site in August to complete critical rehabilitation and infrastructure upgrades required for drill access, with rigs scheduled to arrive in late September.

Further information on the planned drill program will be provided closer to the commencement date, with a total of 30,000 metres planned over the next several quarters. Drilling will include:

  • Exploration drilling focused on expanding the size potential of the recently discovered San Antonio West and San Antonio Southeast zones located adjacent to the historically mined San Antonio zone, within reach of existing underground workings.
  • Delineation drilling on the bulk sample target zones identified for early trial mining.
  • Resource expansion drilling to test extensions of resources scheduled for near-term production upon completion of the PEA.

These programs, together with the planned trial mining campaign, will deliver critical technical data to validate mining methods, inform development decisions, and unlock additional exploration opportunities across the broader True North Gold Project.

About 1911 Gold Corporation

1911 Gold is a junior gold developer with a highly prospective, consolidated land package totaling more than 61,647 hectares within and adjacent to the Archean Rice Lake greenstone belt in Manitoba . The Company also owns the True North mine and mill complex at Bissett, Manitoba , providing a fully permitted infrastructure hub to support future development. 1911 Gold believes its land package represents a prime opportunity to build a new mining district centred on the True North complex.

In addition, the Company holds the Apex project near Snow Lake, Manitoba , and the Denton-Keefer project near Timmins, Ontario , and remains focused on advancing organic growth while pursuing accretive acquisition opportunities across North America .

1911 Gold's True North complex and exploration land package are located within the traditional territory of the Hollow Water First Nation, signatory to Treaty No. 5 (1875-76). 1911 Gold looks forward to maintaining open, co-operative and respectful communication with the Hollow Water First Nation, and all local stakeholders, in order to build mutually beneficial working relationships.

ON BEHALF OF THE BOARD OF DIRECTORS

Shaun Heinrichs
President and CEO

www.1911gold.com

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

This news release may contain forward-looking information and statements, collectively ("forward-looking statements"), within the meaning of applicable Canadian securities legislation. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.

All forward-looking statements reflect the Company's beliefs and assumptions based on information available at the time the statements were made. Actual results or events may differ from those predicted in these forward-looking statements. All of the Company's forward-looking statements are qualified by the assumptions that are stated or inherent in such forward-looking statements, including the assumptions listed below. Although the Company believes that these assumptions are reasonable, this list is not exhaustive of factors that may affect any of the forward-looking statements.

Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, predictions, projections, forecasts, performance or achievements expressed or implied by the forward-looking statements. All statements that address expectations or projections about the future, including, but not limited to, statements about exploration plans and the timing and results thereof, as well as statements relating to the plans and timing for the potential mining operations at the True North Project, including trial mining and the benefits therefrom, are forward-looking statements. Although 1911 Gold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

All forward-looking statements contained in this news release are given as of the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws.

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.

SOURCE 1911 Gold Corporation

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/August2025/28/c2388.html

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Compelling IP Gold Target Delineated at White Lion Prospect

Compelling IP Gold Target Delineated at White Lion Prospect

Pacgold (PGO:AU) has announced Compelling IP Gold Target Delineated at White Lion Prospect

Download the PDF here.

Heliostar Metals

Heliostar Metals Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×