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Heliostar Announces Re-Scoping Plans for the Ana Paula Gold Deposit, Mexico
Vancouver, British Columbia--(Newsfile Corp. - April 3, 2023) - Heliostar Metals Limited (TSXV: H...
About this update from Heliostar Metals Ltd
[{"type":"text","content":"Heliostar Announces Re-Scoping Plans for the Ana Paula Gold Deposit, MexicoVancouver, British Columbia--(Newsfile Corp. - April 3, 2023) - Heliostar Metals Limited (TSXV: HSTR) (OTCQX: HSTXF) (FSE: RGG1) (\"Heliostar\" or the \"Company\") is pleased to provide a detailed plan for the re-scoping of the Ana Paula gold deposit. This re-scope will target an improved financial outcome (Net Present Value and Internal Rate of Return) through an increase in the reserves and resources of the project and incorporation of underground mining and simplification of the mill flowsheet. The re-scoping will be focused on the High-Grade Panel at the core of the Ana Paula Deposit and is anticipated to be completed over the next six months with an updated resource late in 2023.High Grade Panel Historic Intercepts within Ana Paula231 metres (m) grading 7.5 grams per tonne (g/t) gold120.8 metres grading 11.2 g/t gold81.1 metres grading 14.5 g/t gold57.6 metres grading 18.6 g/t gold63.4 metres grading 15.3 g/t goldRe-scope Highlights3,000 - 3,600 metre drill progam to commence in April 2023First drill results expected by the end of May continuing through to Q3 2023Underground mining trade off study and detailed underground mine sequencing with results in Q2 2023Optimized metallurgical analysis with results in Q4 2023Resource update in Q4 2023Heliostar CEO, Charles Funk, commented, \"Our vision for Ana Paula in 2023 is to unlock significant value that will underpin an even stronger financial outcome from a mine than envisaged in the 2017 PFS. The re-scoping program will be catalyst rich for shareholders starting with first drill results from the High-Grade Panel by the end of May. A mine sequence that could bring ounces forward in the mine plan and any improvement to base case metallurgy will also both have material impacts to the project's NPV. The re-scope will aim to provide all the key studies required to advance to a feasibility study on Ana Paula.\"Re-scope detailThe Ana Paula re-scoping program has four key areas of technical study: engineering, metallurgical, resource modelling, and geotechnical. These studies are designed to evaluate Ana Paula as a high-grade underground mine with a simplified and de-risked milling flow sheet. Heliostar will carry out a 3,000 - 3,600 metre drill program designed to increase the size of the gold resource i...