General Precious Metals
Heliostar Metals (TSX-V: HSTR)(OTC: HSTXF) CEO Charles Funk on Latest High-Grade Gold Intercepts & District Scale Potential at Flagship Unga Gold Project, Alaska
Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the CEO of Heliostar Metals — Mr. Charles Funk. Charles, how are you today?
Charles Funk: I'm doing very well, Gerardo.
Gerardo Del Real: You've been very busy despite the quiet markets, which I sense are a result of people getting back out in a function of the summertime in most parts. You've continued to deliver with the drill bit.
The latest release was back on the 13th of July where you drilled multiple gold and base metal intercepts at Apollo and the Unga Project in Alaska — my old stomping grounds!
Some highlights here:
- 9.81 grams per tonne (g/t) gold over 1.52 meters from shallow depths of 89.9 meters
- 7 g/t gold over 1.52 meters from 68 meters
- 2.04 g/t gold equivalent over 22.9 meters
I could go on but it seems like the drill bit has been kind to you thus far.
Charles Funk: Yeah, we came out of the gate very strongly with the first results. And these follow up, defining a couple of pretty clear zones of mineralization for us at Apollo, which is exciting.
Gerardo Del Real: And these were results from 19 holes, correct?
Charles Funk: That's correct. So just that second lot of news from the current program. We expect to have more from this area from the other targets that we've previously talked about.
And the aim was, first of all, to find this lost vein and then to start to understand the shape and the controls on mineralization. We’ve still only drilled a really shallow 100 to 140 meters. We know it goes much deeper. We know it continues along strike because of the old mining and the old long sections that are in that press release.
So it's an excellent start for the target.
Gerardo Del Real: You've now extended the strike to 745 meters with mineralized intercepts. That's within a subsection of a broader 2-km-long trend.
You describe in the release a stated goal to make sure that you revealed the district scale potential of the property with the current program. Tell me why you're encouraged that that's the direction you're headed in right now.
Charles Funk: In fact, we were at site last week. We did a number of things, including hosting a few analysts. And one of the feedback was that we haven't done a good enough job of showing people how big this district is.
We have a 250 sq km package. It's got multiple targets. And in fact, we will drill more meters on Unga Island this year outside of the resource area than have been completed in the entire 135-year history of the project.
So it's incredible to have a project capable of producing such grade over such widths. It's just seen so little exploration. And what we wanted to do by bringing the RC rigs in, in particular, is start to show that district scale potential. And so these are the first results from Apollo, and hopefully we have a number more to come.
Gerardo Del Real: Fully funded, three [rig] drill program. How many more meters will you be completing?
Charles Funk: So I think we'll get very close to that 7,000 meters. The RC drilling has gone spectacularly well. We're well over 50 holes total now. We have had a couple complications with the diamond drilling and it does happen unfortunately. But we've really outperformed on the RC drilling.
So lots more news and lots more catalysts over the next couple months. More at Apollo at the discovery at Aquila last year, we're stepping out underneath SH-1. And we've managed to test another couple of targets as well. So lots more news to come around the corner and a very healthy start for us.
Gerardo Del Real: Looking forward to further results. Anything else to add to that, Charles?
Charles Funk: No, I think we've just got to weather this market malaise and then pick projects where we think there's an outsized opportunity for return. And we think, internally, this is definitely one of those.
Gerardo Del Real: Well, thanks again for the update. Good catching up!
Charles Funk: Thanks, Gerardo! And thanks to the listeners.