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Heliostar Metals Announces Updated Mineral Resource Estimate for the Ana Paula Project, Mexico
Highlights of the Mineral Resource Estimate: Total measured and indicated mineral resources...
About this update from Heliostar Metals Ltd
[{"type":"text","content":"Heliostar Metals Announces Updated Mineral Resource Estimate for the Ana Paula Project, MexicoHighlights of the Mineral Resource Estimate:Total measured and indicated mineral resources of 710,920 gold ounces grading 6.60 g/t goldTotal inferred mineral resources of 447,512 gold ounces grading 4.24 g/t goldMineral resource estimation cutoff grade of 2.5g/t gold. Increased from previous estimateA connected zone of greater than 200,000 gold ounces grading greater than 10 g/t gold within the measured resource in the High Grade Panel that can be targeted in the initial years of mining58% increase in measured and 30% increase in indicated gold grade relative to the previous resource estimate at same 2.5 g/t cutoff gradesKey Statistics:Tighter spaced drilling has led to resource grade growth which is a positive indication for additional grade increases during conversion of the inferred resources to higher classificationsIncrease in Inferred ounces is due to stricter estimation with a view to underground miningThe High Grade Panel at core of the resource is 280m long, 100m high and 60m thickAll-in discovery cost of US$16 per new gold ounce, inclusive of all exploration and project costs Vancouver, British Columbia--(Newsfile Corp. - November 27, 2023) - Heliostar Metals Ltd. (TSXV: HSTR) (OTCQX: HSTXF) (FSE: RGG1) (\"Heliostar\" or the \"Company\") is pleased to report an updated mineral resource estimate (\"Updated Mineral Resource Estimate\") for its Ana Paula Project (the \"Project\" or \"Ana Paula\") located in Guerrero, Mexico. The Updated Mineral Resource Estimate was completed by Rita Teal, Qualified Person with Teal CPG Inc.The high-grade portion of the Ana Paula deposit has grown significantly from 860,519 measured and indicated ounces of gold grading 4.86 grams per tonne (\"g/t\") and 5,564 inferred ounces of gold grading 3.72 g/t to 710,920 measured and indicated ounces of gold grading 6.60 g/t and an additional 447,512 ounces inferred ounces of gold grading 4.24 g/t.\"At the beginning of this year Heliostar set out to transform the Ana Paula Project into a deposit that will support a high-margin, underground gold mine. Today's updated resource estimate is a major milestone on this rapid path of growth and de-risking toward production. In acquiring the project, the Company saw three key levers to improve the deposit; increases...