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Heliostar Provides Update on Technical Disclosure
Vancouver, British Columbia--(Newsfile Corp. - June 14, 2023) - Heliostar Metals Ltd. (TSXV: HSTR...
About this update from Heliostar Metals Ltd
[{"type":"text","content":"Heliostar Provides Update on Technical DisclosureVancouver, British Columbia--(Newsfile Corp. - June 14, 2023) - Heliostar Metals Ltd. (TSXV: HSTR) (OTCQX: HSTXF) (FSE: RGG1) (\"Heliostar\" or the \"Company\") is issuing this press release to clarify certain of its previous disclosure regarding the Ana Paula Project.The Company previously disclosed statements which could constitute an economic analysis of its intended re-scoping of the Ana Paula Project (the \"Disclosure\"). The Company wishes to retract the Disclosure. The Company has not completed an economic analysis on the re-scoping of the Ana Paula Project and the Disclosure is not supported by a technical report in compliance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects. The Company advises readers not to rely on the Disclosure.The Company confirms that the technical report, entitled, \"Ana Paula Project NI 43-101 Technical Report Preliminary Feasibility Study Update,\" with an effective date of February 28, 2023 prepared by Daniel H. Neff, PE, Art S. Ibrado, PhD, PE, Richard K. Zimmerman, RG, SME-RM, Craig Gibson, PhD, CPG, Andrew Kelly, P.Eng., Gordon Zurowski, P.Eng., Paul Daigle, P.Geo., Gilberto Dominguez, PE and James A. Cremeens in respect of the Ana Paula Project remains current.About Heliostar Metals Ltd.Heliostar is a junior mining company with a portfolio of high-grade gold projects in Mexico and Alaska.The Company is focused on developing the 100% owned Ana Paula Project in Guerrero, Mexico. In addition, Heliostar is working with the Mexican government to permit the San Antonio Gold Project in Baja Sur, Mexico. The Company continues efforts to explore the Unga Gold Project in Alaska.The Ana Paula Project deposit contains proven and probable mineral reserves of 1,081,000 ounces of gold (630,000 proven and 451,000 probable ounces) at 2.38 grams per tonne (\"g/t\") gold and 2,547,000 ounces of silver at 5.61 g/t silver (1,322,000 proven and 1,226,000 probable ounces). The project measured and indicated resources of 1,468,800 ounces of gold (703,800 measured and 765,000 indicated ounces) at 2.16 g/t gold and 3,600,000 ounces of silver (1,637,000 measured and 1,963,000 indicated ounces) at 5.3 g/t silver. The project is permitted for open-pit mining and contains significant existing infrastructure including a portal and a 412 metre...