Heliostar to Commence 15,000m Ana Paula Drill Program

Heliostar to Commence 15,000m Ana Paula Drill Program

Heliostar Metals Ltd. (TSXV: HSTR) (OTCQX: HSTXF) (FSE: RGG1) ("Heliostar" or the "Company") is pleased to announce an aggressive drill-out of the Company's 100% owned Ana Paula deposit. The company will mobilize two drill rigs in April to commence the program.

Heliostar CEO Charles Funk comments, "We have always wanted to push harder at Ana Paula, and now we can commence the largest drill program in the Company's history. We see potential to further improve the resource at Ana Paula. The program will infill the current resource, step out to expand its boundaries and explore untested areas on the property. Both we and our shareholders have been keen for this opportunity, and it's time to turn the rigs loose at Ana Paula."

Ana Paula Drill Program

Cannot view this image? Visit: https://images.newsfilecorp.com/files/7729/246653_16f03feae40ff995_001.jpg

Figure 1: A plan map of the Ana Paula 2023 Mineral Resource clipped to greater than 2g/t gold. Select Infill and Exploration targets labelled.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7729/246653_16f03feae40ff995_001full.jpg

The 2025 program will focus on three aspects to improve the Ana Paula resource:

  • Infill Drilling - Section-by-section drilling on the preferred north-to-south orientation. This will focus on converting inferred ounces to higher confidence categories for underground mining at the High Grade and Parallel Panels (Figure 1).

  • Testing the Extent of Satellite Zones - We will follow up on recent drill intercepts that include 16.0 metres at 16.7 grams per tonne (g/t) gold to the west of the High Grade Panel and 24.0 metres at 5.1 g/t gold over 150 metres beneath the High Grade Panel (Figure 2).

  • Testing Exploration Targets North of the Parallel Panel - The 2023 resource estimate highlights a number of poorly defined high-grade gold intercepts. These intercepts model as discrete zones of high-grade mineralization but remain poorly defined due to a lack of drilling. Heliostar believes these may be repetitions to the north of the interpreted east-west fault controls that host the High Grade Panel and Parallel Panels. They represent excellent exploration targets for the growth of the Ana Paula deposit (Figure 3).

Cannot view this image? Visit: https://images.newsfilecorp.com/files/7729/246653_16f03feae40ff995_002.jpg

Figure 2: A cross-section with the resource model from 2023 Mineral Resource Estimate highlighting the High Grade Panel (clipped to greater than 2 g/t gold resource blocks) and hole AP-24-319, an open deeper intercept to be followed up with the planned program.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7729/246653_16f03feae40ff995_002full.jpg

Cannot view this image? Visit: https://images.newsfilecorp.com/files/7729/246653_16f03feae40ff995_003.jpg

Figure 3: A north-south section through the 2023 Ana Paula Resource. Major zones, the High Grade Panel, Parallel Panel and Expansion Zone, are labelled along with new northern exploration targets that will be tested in the 2025 drilling program.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7729/246653_16f03feae40ff995_003full.jpg

The company expects the drill program to be continuous through the remainder of 2025 and provide steady newsflow over this period.

Statement of Qualified Person

Stewart Harris, P.Geo., a Qualified Person, as such term is defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has reviewed the scientific and technical information that forms the basis for this news release and has approved the disclosure herein. Mr. Harris is employed as Exploration Manager of the Company.

About Heliostar Metals Ltd.

Heliostar aims to grow to become a mid-tier gold producer. The Company is focused on developing the 100% owned Ana Paula Project in Guerrero, Mexico and has recently entered into an agreement to acquire a portfolio of production and development assets in Mexico.

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, we see potential to improve the resource at Ana Paula. The program will infill the current resource, step out to expand its boundaries, and explore untested areas on the property, and, they represent excellent exploration targets for growth of the Ana Paula deposit.

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/246653

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 Metals Closes Bought Deal Equity Financing for Gross Proceeds of $19.5 Million

Heliostar Metals Closes Bought Deal Equity Financing for Gross Proceeds of $19.5 Million

Heliostar Metals Ltd. (TSXV: HSTR) (OTCQX: HSTXF) (FSE: RGG1) ("Heliostar" or the "Company") is pleased to announce that it has closed the bought deal equity financing previously announced by the Company on March 20, 2025, including the partial exercise of the underwriters' option, for aggregate gross proceeds of $19,500,000 (the "Offering"). The Offering was conducted by a syndicate of underwriters led by Cormark Securities Inc. and Velocity Trade Capital Ltd., and including Clarus Securities Inc., BMO Capital Markets, Roth Canada Inc. and Ventum Financial Corp. (collectively, the "Underwriters").

Pursuant to the Offering, the Company issued 19,500,000 common shares (the "Offered Shares") at a price of $1.00 per Offered Share. Mr. Eric Sprott, through 2176423 Ontario Ltd. ("2176423"), a corporation beneficially owned by him, invested $5,000,000 by subscribing for 5,000,000 Offered Shares.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
HELIOSTAR METALS ANNOUNCES $12 MILLION BOUGHT DEAL EQUITY FINANCING

HELIOSTAR METALS ANNOUNCES $12 MILLION BOUGHT DEAL EQUITY FINANCING

The Base Shelf Prospectus is accessible, and the Prospectus Supplement will be accessible within two business days, through SEDAR+

/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES ./

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Heliostar CFO Commences Role and Incentive Grant

Heliostar CFO Commences Role and Incentive Grant

Heliostar Metals Ltd. (TSXV: HSTR) (OTCQX: HSTXF) (FSE: RGG1) ("Heliostar" or the "Company") is pleased to announce that Ms. Vitalina Lyssoun has commenced her role as Chief Financial Officer ("CFO") as announced on February 6th, 2025.

Further, pursuant to the Company's Omnibus Equity Incentive Compensation Plan, it has granted 500,000 stock options ("Options") at an exercise price of $0.815 and 150,000 restricted share units (each an "RSU") to an employee of the Company. The Options are exercisable for a period of five years and will vest over the next two years. The RSUs will vest in three equal annual instalments commencing on the first anniversary of the grant date.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Heliostar Presents Fourth Quarter 2024 Financial Results

Heliostar Presents Fourth Quarter 2024 Financial Results

Heliostar Metals Ltd. (TSXV: HSTR) (OTCQX: HSTXF) (FSE: RGG1) ("Heliostar" or the "Company") today reported financial results for the three months ended December 31, 2024 ("Q4 2024"), which corresponds to the third quarter of Heliostar's fiscal reporting year 2025. The Company previously released its gold production for Q4 2024 (see News Release dated February 4, 2025)

Heliostar CEO, Charles Funk, commented, "Q4 2024 was a strong start to production for Heliostar. From the close of the transaction on November 7, 2024, to the quarter end, our operating mines generated over C$9.5M in cash flow. The Company's cash position grew to C$7.7M, and we made the first repayment of our acquisition debt, which has now been fully paid down. The Company also recognized a C$90.5M accounting gain on the independent valuation of our Mexican assets, demonstrating the accretive nature of the transaction. We proceed into 2025 with a strengthened balance sheet, growing production and high-grade exploration results from Ana Paula and La Colorada. We are well set to build Heliostar further in 2025."

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Heliostar Drills Wide Intervals Within the High Grade Panel and Hits Satellite Zones at Ana Paula, Mexico

Heliostar Drills Wide Intervals Within the High Grade Panel and Hits Satellite Zones at Ana Paula, Mexico

HIGHLIGHTS:

  • High Grade Panel
    • 161.0 metres @ 4.26 grams per tonne (g/t) gold including
    • 30.0 metres @ 10.1 g/t gold, and
    • 15.7 metres @ 10.4 g/t gold
  • Parallel Panel
    • 3.0 metres @ 21.4 g/t gold
  • Satellite hit (over 150m below High Grade Panel)
    • 24.0 metres @ 5.10 g/t gold

Heliostar Metals Ltd. (TSXV: HSTR) (OTCQX: HSTXF) (FSE: RGG1) ("Heliostar" or the "Company") is pleased to announce additional results from the 100% owned Ana Paula project in Guerrero, Mexico. The Company has drilled 3,210 metres in phase one of the program and will follow-up the best results with a second phase program.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
CSE Bulletin: Suspension - Green River Gold Corp.

CSE Bulletin: Suspension - Green River Gold Corp.

Effective immediately, Green River Gold Corp. is suspended pursuant to CSE Policy 3. The suspension is considered a Regulatory Halt as defined in National Instrument 23-101 Trading Rules. A cease trade order has been issued by the Alberta Securities Commissions.

For more information about Cease Trade Orders, visit the Canadian Securities Administrators Cease Trade Order database at www.securities-administrators.ca.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Leocor Mining Updates Investment In Intrepid Metals

Leocor Mining Updates Investment In Intrepid Metals

(TheNewswire)

Leocor Mining Inc.

Vancouver, British Columbia TheNewswire - April 1, 2025 - Leocor Mining Inc. (the " Company " or " Leocor ") (CSE: LECR, OTCQB: LECRF; Frankfurt: LGO0) (formerly Leocor Gold Inc.), a junior resource company focused on the exploration and development of precious metals  projects in Eastern Canada, is pleased to provide an update on its capital investment in Intrepid Metals (TSX.V: INTR).

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Riverside Resources Moves Ahead on Plan to Spin Out Blue Jay to Shareholders After Approval at the Annual and Special Meeting

Riverside Resources Moves Ahead on Plan to Spin Out Blue Jay to Shareholders After Approval at the Annual and Special Meeting

Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) ("Riverside" or the "Company"), is pleased to announce that the spin-out of its subsidiary, Blue Jay Gold Corp. ("Blue Jay"), has been approved by shareholders and is now moving forward, with completion potentially expected in May or June of this year. This news follows the plan and actions announced in the Company's press release dated February 28, 2025, at its annual and special meeting of shareholders held on March 31, 2025 (the "Meeting"), shareholders approved the previously announced plan of arrangement (the "Arrangement") under the Business Corporations Act (British Columbia) (the "BCBCA") involving the spin-out of its equity interest in its subsidiary, Blue Jay Gold Corp.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
1911 Gold Intersects up to 14.97 g/t Gold over 2.70 m including 71.60 g/t Au over 0.50 m on SAM Southeast Zone at True North

1911 Gold Intersects up to 14.97 g/t Gold over 2.70 m including 71.60 g/t Au over 0.50 m on SAM Southeast Zone at True North

1911 Gold Corporation (" 1911 Gold " or the " Company ") (TSXV: AUMB; OTCBB: AUMBF; FRA: 2KY) is pleased to announce the assay results from eight (8) drill holes for 1,672.0 metres ("m") from the ongoing surface drill program at the recently discovered San Antonio Southeast target at the True North Project. The True North project, including a permitted mill, camp, and tailings facility, is centrally located on the Company's 100%-owned Rice Lake Gold property in southeast Manitoba, Canada .

Highlights:

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Rio Silver Pivots to High-Grade Silver Exploration / Exploitation - Announces Executive Changes

Rio Silver Pivots to High-Grade Silver Exploration / Exploitation - Announces Executive Changes

Rio Silver Inc. ("Rio Silver" or the "Company") (TSX.V: RYO) (OTC: RYOOF) announces that it has appointed Eric H. Hinton, P.Eng., FCIM, to the Advisory Board.

Eric H. Hinton, P.Eng., FCIM, has degrees from Haileybury School of Mines, Queen's University and Laurentian University and is a registered professional engineer in Ontario and Manitoba. Eric is a Fellow of the Canadian Institute of Mining, Metallurgy and Petroleum and is also designated as a Qualified Person in underground mining from the Mining and Metallurgical Society of America in addition to a qualified person for National Instrument 43-101. Eric's experience in small scale mining operations (from 50 to 500 tonnes per day) led him to acquire Basic Minerals SAC in Peru to launch the Mercedes Project which will become a 25000 tonne per annum polymetallic producer. His expertise will enable Rio Silver to engage in projects similar to Mercedes such as the recently acquired Maria Norte project, also in Peru, in order to potentially realize positive cashflow in the short term.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Quimbaya Gold Announces Annual General Meeting Results and Board Changes

Quimbaya Gold Announces Annual General Meeting Results and Board Changes

Quimbaya Gold Inc. (CSE: QIM) (OTCQB: QIMGF) (FSE: K05) ("Quimbaya Gold" or the "Company") is pleased to announce that shareholders voted to approve all items of business put forth to shareholders at the Company's Annual General and Special Meeting ("AGSM") held on March 28, 2025, including the election of directors, fixing the number of directors, appointment of the Company's auditor, approval of the equity incentive plan, and the continuation of the Company under the British Columbia Business Corporations Act.

The board of directors and the Company would like to thank Mr. Bayona, who did not run for re-election, for his service to the Company and would like to wish him well in his future endeavors.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Heliostar Metals

Heliostar Metals Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×