Business
Heliostar Metals Closes Sale of Minority Interest in Newman Todd Project
(TheNewswire) Vancouver, Canada - TheNewswire - December 31, 2020...
About this update from Heliostar Metals Ltd
[{"type":"text","content":"Heliostar Metals Closes Sale of Minority Interest in Newman Todd Project\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n Vancouver, Canada -\n \n \n TheNewswire -\n \n \n December 31,\n \n \n 2020 –\n \n \n Heliostar\nMetals Limited (TSXV:HSTR\n \n \n ) (OTC\n \n \n :RGCTF\n \n \n ) (\n \n \n FRA:RGG)\n(\n \n \n \"Heliostar\"\n \n \n or the\n \n \n \"Company\"\n \n \n )\nis pleased to announce that it has completed the previously announced\nsale of its 16.5% interest in the Newman Todd property to Trillium\nGold Mines Inc. (TSXV:TGM) (\n \n \n “Trillium”\n \n \n ).\n \n \n \n \n The terms of the sale were set out in a purchase\nagreement between Heliostar and Trillium dated as of November 24,\n2020, pursuant to which Heliostar agreed to sell its 16.5% interest in\nconsideration for $700,000 cash and 650,000 Trillium common shares\nissued from treasury.  In addition, i\n \n \n f at any\npoint after closing there should be 1,000,000 or more ounces of gold\nin measured and indicated reserves and resources on the Newman Todd\nproperty, Trillium has agreed to make an additional C$1,000,000 cash\npayment to Heliostar.\n \n \n \n \n About Heliostar Metals Ltd.\n \n \n \n \n Heliostar is a well-financed junior exploration and\ndevelopment company with a portfolio of high-grade gold projects in\nAlaska and Mexico.  The company’s flagship asset is the 100%\ncontrolled Unga Gold Project on Unga and Popof Islands in Alaska.\n The project hosts an intermediate sulphidation epithermal gold\ndeposit within the district-scale property that encompasses\n240km\n \n \n 2\n \n \n across the two islands. Additional targets on the property\ninclude intermediate sulphidation epithermal veins, and porphyry and\nhigh sulphidation targets. On Unga Island, priority targets include:\nSH-1 and Aquila, both on the Shumagin Trend, the former Apollo-Sitka\nmine, which was Alaska’s first underground gold mine, and the\nZachary Bay porphyry gold-copper prospect.  Gold mineralization at\nthe Centennial Zone is located on neighbouring Popof Island within\nfour kilometres of infrastructure and services at Sand Point.\n \n \n \n \n In Mexico, the company owns 100% of three early stage\nepithermal projects in Sonora that are highly prospective for gold and\nsilver.  Cumaro forms part of the El Picacho distri...