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Heliostar Delivers Strong Shallow Oxide Gold Hits at the La Colorada Mine, Sonora, Mexico
HIGHLIGHTS: 5.0m grading 9.69 g/t gold 4.3m grading 9.87 g/t gold 15.0m grading 2.54 g...
About this update from Heliostar Metals Ltd
[{"type":"text","content":"Heliostar Delivers Strong Shallow Oxide Gold Hits at the La Colorada Mine, Sonora, MexicoHIGHLIGHTS:5.0m grading 9.69 g/t gold4.3m grading 9.87 g/t gold15.0m grading 2.54 g/t gold11.65m grading 1.86 g/t gold11.6m grading 1.72 g/t gold21.6m grading 0.77 g/t goldContinued success from assay results from shallow drilling in areas considered to be waste within the Creston Pit ExpansionHigher Grade intercepts demonstrate underground potential beyond the current open pitVancouver, British Columbia--(Newsfile Corp. - January 30, 2025) - Heliostar Metals Ltd. (TSXV: HSTR) (OTCQX: HSTXF) (FSE: RGG1) (\"Heliostar\" or the \"Company\") is pleased to announce additional results from a 12,500-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 a Feasibility Study and expansion decision planned for mid-2025.Heliostar CEO, Charles Funk, commented, \"At La Colorada, we are seeing the combined benefit of gold production at record prices and growth from the first significant investment into the project in many years. Our aggressive five-rig drill program is designed to increase the reserves of the Creston pit. Success to date in the shallow part of the pit could lower the upfront capital costs presented in the January 13th Technical Report. The Company will use the results of this drill program to finalize a Feasibility Study in mid-2025 and then make an expansion decision on La Colorada to 50,000-100,000 ounces per year of annual production. We are also hitting high grades and widths and deeper intercepts could drive underground mining optionality beyond the open pit. We will further test this target with additional drilling in this current drill program.\"Drill Results SummaryMineralization 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 oxide gold and silver from all three of these veins. A current Mineral Reserves of 312,000 ounces of gold grading 0.76 grams per tonne (g/t) gold and 10.1 g/t silver is defined at the Creston Pit1. Reviewing the expansion pot...