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Heliostar Drills 53.2 m Grading 11.0 g/t gold and 44.5 m Grading 11.0 g/t gold at Ana Paula Project, Mexico
Highlights: Hole AP-23-292 101.1 metres @ 8.3 grams per tonne (g/t) gold including; 53....
About this update from Heliostar Metals Ltd
[{"type":"text","content":"Heliostar Drills 53.2 m Grading 11.0 g/t gold and 44.5 m Grading 11.0 g/t gold at Ana Paula Project, MexicoHighlights:Hole AP-23-292 101.1 metres @ 8.3 grams per tonne (g/t) gold including;53.2 metres @ 11.0 g/t gold Hole AP-23-291 118.5 metres @ 5.4 g/t gold including;44.5 metres @ 11.0 g/t gold including;4.0 metres @ 48.5 g/t gold These first drill results confirm our drilling thesis, which we believe will lead to a larger and higher grade core within the Ana Paula depositVancouver, British Columbia--(Newsfile Corp. - May 23, 2023) - Heliostar Metals Ltd. (TSXV: HSTR) (OTCQX: HSTXF) (FSE: RGG1) (\"Heliostar\" or the \"Company\") is pleased to report its first drill results from the Ana Paula project in Mexico. These two holes are the first drilled into the property by Heliostar, with the on-going drill program targeting the High Grade Panel at the core of Ana Paula that Heliostar believes has the potential to host a high margin, underground gold mine development opportunity. Heliostar CEO, Charles Funk, commented, \"We are thrilled with the first holes at Ana Paula. Drill results like this are rare anywhere in the world. Ana Paula's high grade and consistently wide intervals of gold mineralization demonstrate the underground mine potential. Heliostar will continue the 16-24 hole program designed to increase the Ana Paula resource, with a focus on infill and expansion of the High Grade Panel. Both holes exceeded expectations based on the current resource model. Hole AP-23-291 is particularly encouraging as it returned a 30% increase relative to the current resource model, at a >5 g/t cut-off grade. This builds confidence that infill drilling can increase ounces and potentially lift the overall grade of the deposit.\"Ana Paula is an advanced gold project with an open pit mine permit, a prefeasibility study1 and over US$75M in recent exploration and development expenditures. These results are the first in a re-scoping of the asset with a view to underground mining. The re-scoping program includes drilling, underground mine design, geometallurgical optimization studies and a resource update, all of which will be delivered in 2023. The company believes this program will deliver a technically simpler and materially improved Net Present Value (NPV) for the project.Drill DetailsThe Company's drill program centres on resource and re...