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Heliostar Finds Vein Beneath Historic Apollo-Sitka Mine and Drills 5.1 g/t AuEq over 1.95 Metres at Unga Project
Vancouver, British Columbia--(Newsfile Corp. - March 1, 2021) - Heliostar Metals Limited (TSXV...
About this update from Heliostar Metals Ltd
[{"type":"text","content":"Heliostar Finds Vein Beneath Historic Apollo-Sitka Mine and Drills 5.1 g/t AuEq over 1.95 Metres at Unga ProjectVancouver, British Columbia--(Newsfile Corp. - March 1, 2021) - Heliostar Metals Limited (TSXV: HSTR) (OTCQX: HSTXF) (FSE: RGG1) (\"Heliostar\" or the \"Company\") is pleased to announce results from four of seven holes at the Apollo-Sitka Mine target in the Unga project, Alaska. Results from the remaining holes will be reported when they return from the assay laboratory.The Apollo-Sitka mines produced gold from high-grade material at the turn of the 20th century. Mining ran from 1891 to the early 1920s and stopped when the high-grade gold ores transitioned to include a high base-metal content at depth. Historic exploration shafts demonstrated the vein continued beneath the mined areas. Despite evidence of strong mineralization at depth there is no record of drilling underneath the mines until this program. Drilling HighlightsAPS20-03A5.10 grams per ton (g/t) gold equivalent (4.77 g/t gold, 14.3 g/t silver, 0.1% lead and 0.2% zinc) over 1.95 metres (m) from 157.89 m downholeAPS20-041.06 g/t gold equivalent (0.30 g/t gold, 11.9 g/t silver, 0.7% lead and 0.8% zinc) over 24.99 m dowhole from 5.79 m downholeNote: All numbers are rounded and widths represent downhole lengths; true thicknesses are unknown. Gold equivalent is calculated using the following formula: gold-equivalent = ((Au_g/t x 48.23) + (Ag_g/t x 0.6431) + (Pb_ppm x 0.0019) + (Zn_ppm x 0.0021)) / 48.23. Metal price assumptions are $1,500 per ounce gold, $20 per ounce silver, $0.85 per pound lead and $0.95 per pound zinc.Heliostar CEO, Charles Funk, commented, \"This initial drilling intersected multiple sub-parallel veins in the Apollo area, demonstrated strong gold grades and accurately located the veins at depth. Drilling a wide stockwork zone surrounding the Sitka workings increases the economic potential of this area and demonstrates proof of our geologic concept that this area has more mineralized material to offer. The company will begin systematically drilling at Apollo-Sitka when we recommence our program in late March with a goal of defining the full extent of mineralization found by earlier miners.\"Apollo-Sitka TargetThe Apollo and Sitka showings are located along a seven-kilometre long southwest-trending structural corridor that hosts multiple vein...