Brightstar Resources Limited (ASX: BTR) (Brightstar) is pleased to announce initial assay results from the Reverse Circulation (RC) drilling program at the Menzies Gold project (Menzies), part of the large RC and diamond drilling (DD) program across the broader +1.45Moz Au Brightstar portfolio. The broader program is targeting gold mineralisation within delineated pit shells and underground designs outlined within Brightstar’s Scoping Studies1,3 along with extensional drilling across the portfolio to grow the current JORC Mineral Resource Estimate.
HIGHLIGHTS
These results are from the first phase of the RC drilling program at Menzies Gold Project (MGP), with the RC rig currently drilling at the Lord Byron deposit (part of the Jasper Hills project area) and the diamond rig presently at the Second Fortune Gold mine. Post completion of drilling within the Laverton Hub, the RC rig will return to Menzies to complete the outstanding holes and conduct exploration RC drilling in the area. The drilling at the MGP is focused largely on infill and extensional drilling at the Pericles, Stirling and Lady Shenton deposits (collectively, the Lady Shenton System) ahead of feasibility study workstreams in preparation for mining activities in CY2025.
Brightstar’s Managing Director, Alex Rovira, commented“These results from the Lady Shenton System highlight the immense potential that Menzies holds. With numerous high-grade hits in all three deposits at Pericles, Lady Shenton and Stirling indicating mineralisation is still open at depth, we look forward to completing the program once high priority drilling is completed at the Laverton Hub.
We’ve taken opportunity to bring on a third rig, with two RC rigs presently at Jasper Hills drilling out the Fish and Lord Byron deposits, whilst the diamond rig is maintaining good progress and accuracy with the ‘diamond tails’ being drilled at depth at the Second Fortune Mine. These programs will generate valuable information for our feasibility studies and ongoing mine plans, which will be utilised for geotechnical, metallurgical and mine planning purposes at our Menzies & Laverton Hubs”
Figure 1 – Lady Shenton location within broader Menzies Gold Project
Figure 2 - Lady Shenton system drilling program underway. Cross sections A-A’, B-B’ and C-C’ within insets are displayed in Figures 3, 4 and 5
TECHNICAL DISCUSSION
A total of 52 RC drill holes have been completed with assays returned at Menzies. These holes include 26 drill holes completed at the Pericles deposit (Figures 2, 3, 4 & 7), eight drill holes were completed at the Lady Shenton open pit ramp (Figure 2) and 18 holes completed at the Stirling deposit (Figures 2, 5 & 6).
Assay results and hole details for the drilling outlined above are detailed in Tables 1 - 4.
A further 36 RC holes are planned for future drilling in the coming weeks at Pericles (Figure 2) once the RC program at the Jasper Hills project concludes.
Click here for the full ASX Release
This article includes content from Brightstar Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
A gold-focused emerging gold producer with a clear pathway to production growth, Brightstar Resources presents a compelling investment case driven by its mining and development hubs strategy and a district-scale resource opportunity.
The price of gold stays strong. In April 2024, the yellow metal’s price passed US$2,400 per ounce for the first time. The reason is multifaceted. The world teeters on the brink of a severe recession while some markets attribute the increase to safe haven rush. Amidst ballooning interest rates, bank failures and falling bond yields, demand for gold continues to rise. At this precise moment, gold is simultaneously an excellent portfolio diversifier and a compelling hedge against ongoing inflation — particularly if one invests in the right company.
Brightstar Resources (ASX:BTR) aims to be that company. An emerging mining and development company, Brightstar occupies a strategic land position of roughly 1,200 square kilometers in the Sandstone Greenstone Belt, 300 square kilometers in the Laverton Tectonic Belt and 80 square kilometers of the Menzies Shear Zone.
The company also owns an existing processing facility that can potentially provide tremendous shareholder value in a low-capital cost restart scenario.
That plant, once fully refurbished and operational, could prove a key differentiator for the company, enabling fast gold production at a low capital cost. This is especially noteworthy given that many other gold companies trading on the ASX are largely focused on greenfield exploration and development. Even once those companies discover a promising resource, mining and processing facilities would still need to be built, undertakings which can incur significant upfront capital costs and take several years.
Brightstar's Laverton gold assets are all centered on a 100 percent-owned 300-square-kilometer tenure in the Laverton Tectonic Zone and all within 70 kilometers of the Laverton Processing Plant. Additionally, all resources within this zone are open along strike and at depth. Only minor drilling programs have been conducted in recent years, paving the way for significant exploration upside with the potential for further regional and greenfields discoveries.
Brightstar also owns 100 percent of the Menzies Gold Project, a contiguous land package of granted mining leases over a strike length of roughly 20 kilometers along the Menzies Shear Zone and adjacent to the Goldfields Highway.
In 2023 and 2024, the company announced a mineral resource upgrade to the Cork Tree Well deposit (Laverton gold project) and also delivered two maiden mineral resource estimates at the Link Zone and Aspacia deposits (Menzies gold project). This has grown the total group MRE by approximately 150 koz gold through organic exploration.
The company has also acquired 100 percent of the shares and options of Linden Gold Alliance, a gold producer, developer and explorer with existing mineral resources of 350 koz @ 2.1 g/t gold near Brightstar in the Laverton district. Brightstar’s MRE has reached 1.1 Moz gold across the Menzies and Laverton projects, with an additional 0.35 Moz gold in resources added after the successful acquisition of Linden Gold Alliance.
In August 2024, Brightstar entered into a scheme implementation deed to acquire 100 percent of Alto Metals (ASX:AME), which owns the Sandstone gold project located in East Murchison. The project has a current mineral resource of 1.05 Moz of gold at 1.5 g/t.
Brightstar also completed the acquisition of the gold rights at the Montague East gold project (MEGP) from Gateway Mining Limited (ASX:GML). The project is located 70 km from the Sandstone gold project. The acquisition adds a further 9.6 Mt @ 1.6 g/t gold for 0.5 Moz gold to Brightstar’s JORC Mineral Resource Estimate, giving the company a total mineral endowment of 38.3 Mt @ 1.6 g/t gold for 2.0 Moz gold.
The acquisition of the MGEP from Gateway Mining and 100 percent of Alto’s shares creates a third district-scale resource base for the company called the Sandstone Hub. Upon consolidation of the Laverton, Menzies and Sandstone hubs, Brightstar’s mineral resources would reach 3 Moz at 1.5g/t gold.
Subsequent to the deal with Alto Metals, Brightstar entered into a $4 million drill-for-equity agreement with Topdrill to aggressively advance the consolidated Sandstone gold project. The deal strengthens Brightstar's financial capacity to fulfill its multi-hub exploration and development strategy, which includes the Menzies, Laverton and Sandstone hubs.
Brightstar’s Laverton hub is comprised of the Cork Tree Well, Beta and Alpha project areas with the addition of the Second Fortune gold mine and the Jasper Hills projects.
The Menzies Hub comprises a tenement holding of a contiguous land package of granted mining leases over a strike length of more than 20 km. The majority of deposits hosted along the Menzies Shear Zone are located adjacent to Goldfields Highway in Menzies (130km north of Kalgoorlie).
The consolidated Sandstone project is over 100 km from existing third-party milling operations in the Murchison. This third processing hub boasts Alto’s Sandstone project with a mineral resource of 1.05 Moz at 1.4 g/t gold and Gateway’s Montague gold project with a mineral resource of 0.5 Moz @ 1.6 g/t gold.
Brightstar aims to fast-track the development timetable through:
Situated close to Brightstar's existing mineral assets at Laverton, the Brightstar Processing Plant provides the company with a considerable operational head start over its peers.
Gold doré bars (BTR005 – BTR016) poured on 9 March 2024
Alex Rovira is a qualified geologist and an experienced investment banker having focused on the metals and mining sector since 2013. Rovira has experience in ASX equity capital markets activities, including capital raisings, IPOs and merger and acquisitions.
Richard Crookes has over 35 years’ experience in the resources and investments industries. He is a geologist by training having previously worked as the chief geologist and mining manager of Ernest Henry Mining in Australia.
Crookes is managing partner of Lionhead Resources, a critical minerals investment fund and formerly an investment director at EMR Capital. Prior to that he was an executive director in Macquarie Bank’s Metals Energy Capital (MEC) division where he managed all aspects of the bank’s principal investments in mining and metals companies.
Andrew Rich is a degree qualified mining engineer from the WA School of Mines and has obtained a WA First Class Mine Managers Certificate. Rich has a strong background in underground gold mining with experience predominantly in the development of underground mines at Ramelius Resources (ASX:RMS) and Westgold Resources (ASX:WGX).
Ashley Fraser is an accomplished mining professional with over 30 years experience across gold and bulk commodities. Fraser was a founder of Orionstone (which merged with Emeco in a $660-million consolidation) and is a founder/owner of Blue Cap Mining and Blue Cap Equities.
Jonathan Downes has over 30 years’ experience in the minerals industry and has worked in various geological and corporate capacities. Experienced with gold and base metals, he has been intimately involved with the exploration process through to production. Downes is currently the managing director of Kaiser Reef, a high grade gold producer, and non-executive director of Cazaly Resources.
Dean Vallve holds technical qualifications in geology & mining engineering from the WA School of Mines, an MBA, and a WA First Class Mine Managers Certificate. Vallve was previously in senior mining and study roles at ASX listed mid-cap resources companies Hot Chili (ASX:HCH) and Calidus Resources (ASX:CAI).
(TheNewswire)
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November 27th, 2024 TheNewswire - Vancouver, B.C. Opawica Explorations Inc. (TSXV: OPW) (FSE: A2PEAD) (OTCQB: OPWEF) (the "Company" or "Opawica") a Canadian mineral exploration company focused on precious and base metal projects.
Opawica to Present on the Emerging Growth Conference on the 5 th of December 2025
Opawica invites individual and institutional investors as well as advisors and analysts to attend its real-time, interactive presentation on the Emerging Growth Conference.
The next Emerging Growth Conference is presenting on 5 th of December 2025. This live, interactive online event will give existing shareholders and the investment community the opportunity to interact with the CEO and President Blake Morgan in real time. Blake Morgan CEO and President will perform a presentation and may subsequently open the floor for questions.
Please submit your questions in advance to Questions@EmergingGrowth.com or ask your questions during the event and Blake Morgan CEO will do his best to get through as many of them as possible.
Presentation link: https://goto.webcasts.com/starthere.jsp?ei=1677198&tp_key=9effb22694&sti=opwef
Blake Morgan CEO and President states, "We are thrilled to be presenting at the Emerging Growth Conference live at 4:25 - 4:55pm Eastern standard time on Thursday, December 5, 2024. With Opawica's phase two drilling program closing in, the time is right to bring more eyes to the Company and the opportunity that exists. With high priority drill targets now confirmed, we are excited to tell the story and opportunity at Opawica Exploration Inc. www.opawica.com
If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available on www.EmergingGrowth.com and on the Emerging Growth YouTube Channel, http://www.YouTube.com/EmergingGrowthConference . We will release a link to that after the event.
About the Emerging Growth Conference
The Emerging Growth conference is an effective way for public companies to present and communicate their new products, services and other major announcements to the investment community from the convenience of their office, in a time efficient manner. The Conference focus and coverage includes companies in a wide range of growth sectors, with strong management teams, innovative products & amp, services, focused strategy, execution, and the overall potential for long term growth. Its audience includes potentially tens of thousands of Individual and Institutional investors, as well as Investment advisors and analysts. All sessions will be conducted through video webcasts and will take place in the Eastern time zone.
About Opawica Explorations Inc.
Opawica Explorations Inc. is a junior Canadian exploration company with a strong portfolio of precious and base metal properties within the Rouyn-Noranda region of the Abitibi Gold Belt in Québec. The Company's management has a great track record in discovering and developing successful exploration projects. The Company's objective is to increase shareholder value through the development of exploration properties using cost effective exploration practices, acquiring further exploration properties, and seeking partnerships by either joint venture or sale with industry leaders.
FOR FURTHER INFORMATION CONTACT:
Blake Morgan
President and Chief Executive Officer
Telephone: 236-878-4938
Fax: 604-681-3552
Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this news release.
Forward-Looking Statements
This news release contains certain forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, market conditions, availability of financing, actual results of the Company's exploration and other activities, environmental risks, future metal prices, operating risks, accidents, labor issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances as required by applicable law.
Copyright (c) 2024 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
Heliostar Metals Ltd. (TSXV: HSTR) (OTCQX: HSTXF) (FSE: RGG1) ("Heliostar" or the "Company") is pleased to announce the first results from a 12,500 metre drilling program at the La Colorada Mine in Sonora, Mexico. La Colorada is currently producing gold from residual leaching having ceased mining in late 2023. Heliostar is reviewing the potential to restart mining in 2025 and is completing a drill program intended to expand the mineral reserve ahead of this decision.
HIGHLIGHTS:
Heliostar CEO, Charles Funk, commented, "La Colorada has long been a successful mine that helped build El Dorado Gold in 1990s and Argonaut Gold in the 2010s. It has operated profitably over its history and has reserves to support growth. Mining ceased in 2023 when stripping to expand the pit was not completed. This pre-strip is now a capital project and the opportunity to restart is a priority for Heliostar in 2025. Our team recognized that there are significant opportunities to expand shallow mineralization and today's results demonstrate the potential to convert a portion of the previously assumed waste into ore. This can result in lower capital costs and higher cash flow at the beginning of the restart. We value speed as a guiding business principle at Heliostar and have hit the ground running to deliver these results at the mine. I believe La Colorada will help build a third mining company over the next decade!"
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 vein zones. The Creston Pit has historically mined all three of these veins. Drilling prior to Heliostar's acquisition of the mine had successfully focussed on these veins beneath the pit and had expanded the mineral reserve.
Reviewing the expansion potential revealed two opportunities for reserve growth; near surface extensions of known veins where little or no drilling had been completed and upgrading and expanding mineralization beneath the pit. Both opportunities were defined using historical drilling, blasthole data, mining shapes, and the geological model.
High density blast hole data strongly emphasizes the potential for continuation of veins at shallow depth. It defines elevated gold grades continuing to the edge of the pit walls where they remain open for expansion.
Figure 1: Plan view of the Creston Pit showing historic drilling, blast hole samples and new Heliostar drillholes
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7729/231392_cd32a07ff498da60_003full.jpg
Twenty-four holes are reported in this release for a total of 3257.1 metres, principally targeting shallow zones to the east and west of the Creston Pit. The results show narrow to wide, low to high grade oxide gold intercepts. They consistently return intercepts above the average above the mining cutoff of the pit while it was in operation and suggest that areas of waste could be converted to ore in an updated reserve model.
Next Steps
An updated technical report will be completed in January 2025 using the existing resource model at La Colorada. This report will not include the drill results presented in this press release. Results from the current drill program will be incorporated into a resource model and will support a reserve update that will be published with a feasibility study in mid-2025.
Should the drilling define a significant enough volume of gold mineralization, the results have the potential to reduce the capital requirements and improve the economics of the feasibility study. This study will be the basis of a construction decision for the restart of mining from the Creston Pit at La Colorada in mid-2025.
Drilling continues at the mine with three areas of focus. Additional shallow drilling, to follow up these results, is designed to bring production ounces forward in the mine plan. A program of infill and expansion drilling deeper in the pit will attempt to grow the overall gold reserves. A small allocation of drill metres will also test new areas of potential gold mineralization.
The Company anticipates additional drilling results from the current program will be released early next year.
Drilling Results Table
Table 1: Significant Drill Intersections
| Hole ID | From | To | Interval | Au | Ag | % True Width | Comment |
| 24-LCDD-218 | 24.85 | 35.0 | 10.15 | 0.85 | 9.8 | 100 | Intermediate Vein |
| 24-LCDD-219 | 77.9 | 87.75 | 9.85 | 0.25 | 19.7 | 90 | South Vein |
| 24-LCDD-220 | 47.0 | 53.0 | 6.0 | 0.37 | 7.2 | 100 | North Vein |
| 24-LCDD-221 | No significant intervals | ||||||
| 24-LCDD-222 | 9.9 | 21.75 | 11.85 | 1.71 | 21.6 | 100 | North Vein |
| including | 15.55 | 16.8 | 1.25 | 13.1 | 20.5 | 100 | North Vein |
| 24-LCDD-223 | 74.4 | 76.4 | 2.0 | 0.55 | 38.8 | 100 | South Vein |
| 24-LCDD-224 | 0.0 | 22.15 | 22.15 | 0.40 | 8.8 | 85 | Intermediate Vein |
| 24-LCDD-225 | 22.2 | 23.15 | 0.95 | 4.43 | 0.5 | 100 | North Vein |
| and | 35.75 | 45.5 | 9.75 | 0.16 | 8.1 | 100 | North Vein |
| and | 93.0 | 101.35 | 8.35 | 0.22 | 53.9 | 95 | Intermediate Vein |
| 24-LCDD-226 | 18.05 | 35.9 | 17.85 | 0.34 | 69.0 | 90 | South Vein |
| 24-LCDD-227 | 1.1 | 14.8 | 13.7 | 0.25 | 37.5 | 90 | South Vein |
| 24-LCDD-228 | 27.15 | 39.1 | 11.95 | 0.18 | 35.7 | 90 | South Vein |
| and | 46.7 | 51.15 | 4.45 | 0.29 | 43.8 | 90 | South Vein |
| 24-LCDD-229 | 15.45 | 19.55 | 4.1 | 2.27 | 4.0 | 100 | North Vein |
| and | 82.2 | 89.15 | 6.95 | 0.38 | 3.4 | 85 | Intermediate Vein |
| 24-LCDD-230 | 73.8 | 79.9 | 6.1 | 0.79 | 3.3 | 90 | South Vein |
| 24-LCDD-231 | 0.0 | 13.0 | 13.0 | 2.22 | 5.1 | 90 | Intermediate Vein |
| including | 0.0 | 3.0 | 3.0 | 8.79 | 4.8 | 90 | Intermediate Vein |
| and | 36.5 | 41.5 | 5.0 | 18.5 | 20.3 | 90 | Intermediate Vein |
| 36.5 | 41.5 | 5.0 | 6.62 | 20.3 | 90 | Top-cut to 23 g/t gold | |
| and | 67.4 | 73.5 | 6.1 | 0.34 | 3.5 | 100 | South Vein |
| and | 96.2 | 133.15 | 36.95 | 1.24 | 5.4 | 85 | South Vein |
| 24-LCDD-232 | 65.0 | 82.5 | 17.5 | 0.39 | 4.9 | 95 | North Vein |
| 24-LCDD-233 | 168.3 | 171.55 | 3.25 | 0.26 | 123 | 90 | North Vein |
| 24-LCDD-234 | 79.5 | 89.3 | 9.8 | 0.36 | 4.8 | 95 | North Vein |
| 24-LCDD-235 | 82.55 | 86.1 | 3.55 | 0.25 | 8.9 | 95 | North Vein |
| and | 169.5 | 184.0 | 14.5 | 1.69 | 5.2 | 100 | North Vein |
| including | 174.35 | 175.6 | 1.25 | 16.6 | 13.6 | 100 | North Vein |
| 24-LCDD-236 | 43.0 | 53.4 | 10.4 | 0.26 | 25.7 | 90 | South Vein |
| 24-LCDD-237 | 45.9 | 58.25 | 12.35 | 0.20 | 26.4 | 100 | South Vein |
| 24-LCDD-238 | Assays pending | ||||||
| 24-LCDD-239 | No significant intervals | ||||||
| 24-LCDD-240 | Assays pending | ||||||
| 24-LCDD-241 | 81.25 | 86.0 | 4.75 | 0.49 | 158 | 100 | South Vein |
Figure 2: Longitudinal section view of the western end of the Creston Pit highlighting the lack of previous drilling beyond the pit boundary. Section shows historic drilling, blast hole samples and new Heliostar drillhole results.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7729/231392_cd32a07ff498da60_004full.jpg
Drilling Coordinates Table
Table 2: Drill Hole Details
| Hole ID | Northing | Easting | Elevation | Azimuth | Inclination | Length |
| 24-LCDD-218 | 3185843 | 543104 | 442.1 | 180 | -40 | 118.20 |
| 24-LCDD-219 | 3185579 | 542101 | 455.8 | 155 | -47 | 156.45 |
| 24-LCDD-220 | 3185874 | 543079 | 445.9 | 180 | -40 | 150.75 |
| 24-LCDD-221 | 3185629 | 542111 | 450.9 | 175 | -50 | 175.50 |
| 24-LCDD-222 | 3185837 | 543080 | 440.9 | 180 | -40 | 100.00 |
| 24-LCDD-223 | 3185603 | 542104 | 453.3 | 167 | -48 | 147.20 |
| 24-LCDD-224 | 3185798 | 543080 | 437.8 | 180 | -40 | 97.40 |
| 24-LCDD-225 | 3185881 | 543105 | 442.3 | 180 | -40 | 136.45 |
| 24-LCDD-226 | 3185537 | 542126 | 441.3 | 160 | -55 | 66.70 |
| 24-LCDD-227 | 3185581 | 542191 | 382.0 | 180 | -55 | 77.30 |
| 24-LCDD-228 | 3185603 | 542195 | 380.4 | 191 | -57 | 107.20 |
| 24-LCDD-229 | 3185871 | 543129 | 443.4 | 180 | -45 | 128.70 |
| 24-LCDD-230 | 3185835 | 543128 | 441.0 | 180 | -45 | 88.45 |
| 24-LCDD-231 | 3185732 | 542533 | 190.9 | 139 | -45 | 142.70 |
| 24-LCDD-232 | 3185892 | 543053 | 444.3 | 180 | -40 | 140.85 |
| 24-LCDD-233 | 3185887 | 542390 | 346.9 | 180 | -49 | 175.25 |
| 24-LCDD-234 | 3185899 | 543025 | 441.6 | 180 | -49 | 191.50 |
| 24-LCDD-235 | 3185974 | 542975 | 475.0 | 180 | -42 | 267.40 |
| 24-LCDD-236 | 3185625 | 542212 | 378.8 | 180 | -50 | 78.80 |
| 24-LCDD-237 | 3185563 | 542091 | 457.5 | 180 | -45 | 78.70 |
| 24-LCDD-238 | 3186027 | 542850 | 479.7 | 180 | -51 | 419.85 |
| 24-LCDD-239 | 3185594 | 542089 | 454.8 | 180 | -45 | 89.35 |
| 24-LCDD-240 | 3185472 | 542671 | 405.9 | 355 | -40 | 200.35 |
| 24-LCDD-241 | 3185607 | 542101 | 453.2 | 146 | -40 | 122.40 |
Quality Assurance / Quality Control
Core 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 analysed 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
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 is a gold producer with production from operating mines in Mexico. This includes the La Colorada Mine in Sonora and 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 Company's plans, prospects and business strategies; the potential update and expansion of mineral reserves; the Company's integration of acquisitions and any anticipated benefits thereof; the completion of a Feasibility Study on the La Colorada Mine in 2025; the potential re-start of mining operations at the Creston Pit;; the release of an updated technical report on the La Colorada Mine; exploration and development plans, including drilling; and expectations for other economic, business, and/or competitive factors.
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.
