Junior Gold Firm Revving-Up the Drills in Mexico & Alaska

by Mike Fagan

Mike Fagan

Heliostar Metals (TSX V: HSTR)(OTC: HSTXF) — currently trading right around C$1.20 per share — has announced a highlight intercept of 92 grams per tonne (g/t) silver over 2.5 meters from its maiden drill program at the La Lola Silver-Gold Project in Sonora, Mexico.  

To-date, three holes from the ongoing 1,500 meter program have been completed with assays still pending from one hole.

The highlight intercept of 92 g/t silver over 2.5 meters was from the La Barra vein which extends over 5 km in a large area of alteration.  

Heliostar CEO, Charles Funk — whom you’ll be hearing more from in a moment — commented via press release:

“These results are an excellent start to our drilling program at La Lola.  To prove that higher grades occur within the main La Barra vein is a significant development and the company continues to drill looking for the heart of the system. This 1,500-metre program is the first ever drilling completed at La Lola and if Heliostar can demonstrate ore grades we can then step-out along the entire length of the La Barra vein.”

The La Lola property is a 63 sq km land package near Equinox’s Mercedes mine, First Majestic’s Santa Elena mine, SilverCrest’s Las Chispas deposit, Silver Tiger’s El Tigre deposit, and Grupo Mexico’s giant La Caridad mine.

                                         Heliostar drill targets map

As you can see from the above map, the company is advancing a total of 3 early-stage projects in the district: La Lola, Cumaro, and Oso Negro.

  • Cumaro is a 5 sq km claim lying within SilverCrest’s actively explored El Picacho district and hosts extensions of the El Picacho, Dos Amigos, and Basaitegui veins.
  • Oso Negro hosts three highly-prospective vein structures and sits roughly 50 km southwest of La Lola and 40 km northeast of Silvercrest’s high-grade Las Chispas deposit.

And 5,000 km to the north, Heliostar is revving-up the drills at its flagship Unga Gold Project located on the Unga and Popof Islands in Alaska’s Aleutian chain.

Last year’s drill program at Unga intersected gold mineralized veins at the Apollo-Sitka, Aquila, and SH-1 targets — all of which are open to expansion by way of the drill. Commencing this month, Heliostar’s drill program at Unga will consist of 3 rigs [two RC; one diamond] and will focus on all three of the above mentioned main zones.

With multiple drill programs spinning simultaneously, Heliostar Metals is poised to deliver a steady stream of news flow over the coming months with which to potentially move the needle.

Our own Gerardo Del Real of Junior Resource Monthly sat down with Heliostar CEO, Charles Funk, to get caught up on all of the latest happenings at La Lola and Unga. Tune in to the interview here, or read the transcript.

Be sure to also click here for our most recent report on Heliostar Metals.

Yours in profits,

Mike Fagan

Mike Fagan
Editor, Resource Stock Digest

Mike Fagan has mining in his blood. As a teenager he staked countless gold and silver properties in Nevada alongside his dad, Brian Fagan, who created the Prospect Generator model that’s still widely used today in the resource space. One of those staking projects was put into production by a major Canadian mining company — a truly rare and profitable experience. That background uniquely qualifies him as a mining stock speculator. One of the most well-known names in the business, Mike is now putting that experience to use for the benefit of Resource Stock Digest and Hard Asset Digest readers.