Mike Fagan,
Editor
Sept. 9, 2021
Heliostar Metals (TSX V: HSTR)(OTC: HSTXF) — currently trading around C$0.90 per share — has released assays from the first 7 near-surface drill holes at the Aquila target at its flagship, 250 sq km Unga Gold Project, Alaska.
Highlights from 3 of 7 holes include:
- 6.51 grams per tonne (g/t) gold over 3 meters
- 2.45 g/t gold over 7.6 meters; including
• 9.91 g/t gold over 1.5 meters
- 5.57 g/t gold over 1.5 meters
Assays from six additional holes are pending.
Heliostar VP of Exploration, Sam Anderson, commented via press release:
"The Aquila target is delivering with these results defining another centre of mineralization at Unga. The phase one 2021 program has now defined shallow gold footprints over large areas at both Apollo and now Aquila, and assays remain pending for these and other targets at the project. The geological interpretation is that Aquilla is just the top of a mineralized zone and our next step is to undertake diamond drilling to define the full extent of mineralization at depth and along strike. Unga is an extremely large, 250 square kilometre, land package and this current drill program is designed to rapidly test the highest probability targets with RC drilling ahead of a systematic diamond drilling program with a goal of growing the projects existing resource to greater than 1,000,000 ounces of gold."
With four priority targets at Unga — Aquila, SH-1, Apollo and Centennial — and with an initial goal of defining greater than 1Moz of high-grade gold mineralization, Heliostar Metals is certainly one-to-watch in the junior precious metals space.
Additionally, in northern Sonora, Mexico, Heliostar is advancing three early-stage gold-silver exploration projects — Oso Negro, Cumaro, and La Lola — nearby to a number of well-know deposits by larger mining companies including Agnico’s Santa Gertrudis gold deposit and SilverCrest’s Las Chispas silver deposit.
- Oso Negro hosts five 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.
- La Lola 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.
- 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.
Heliostar CEO, Charles Funk, stated via press release:
“We now have over 360 metres of continuous, high silver and gold grades at the main Prospecto vein at Oso Negro and have defined drill targets on all three previously known veins on the property. In addition, the company has increased the land holding by over ten times and discovered two new silver-bearing veins. The Fresnos vein is locally up to 70 metres wide and may represent the shallow levels of a system. The Hebilla vein zone has many small, historic workings. Grab samples from these locales contained high silver and gold grades. We are thrilled with these results and look forward to getting our team back onto the project with a plan to complete a maiden drill program once we wrap up our current work program at Unga.”
It’s a well designed strategy of having the drills turning pretty much all year-round. As results are being tabulated up at Unga, the Heliostar team can be grinding away for shareholders some 5,000 km to the south in Sonora, Mexico.
With high-grade seemingly coming out of every vein structure up north and down south, Heliostar Metals looks more than up for the task to deliver a steady stream of high-grade gold/silver results with very little pause in between.
As always, my colleague Gerardo Del Real of Junior Resource Monthly has his ear to the ground on all-things Heliostar.
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including specific buy-sell signals and upcoming catalysts across a variety of metals — and why he believes Q4 is setting up to be one of the most profitable quarters he’s seen in the junior resource space.
Also click here for our feature report on Heliostar Metals.
Yours in profits,
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 readers.
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