Drills Hit Alaskan Gold as Drilling Continues in Mexico

by Mike Fagan

Mike Fagan


Heliostar Metals (TSX V: HSTR)(OTC: HSTXF) — currently trading right around C$1 per share — has confirmed the existence of subparallel veins at the Apollo-Sitka mine target at its flagship Unga Gold Project, Alaska.

Highlights from the recently completed drill program include (4 of 7 holes reported; 3 holes currently at lab):

  • 5.1 grams per tonne (g/t) gold equivalent (4.8 g/t gold, 14.3 g/t silver, 0.1 per cent lead and 0.2 per cent zinc) over 1.9 metres from 157 meters downhole
     
  • 1.06 g/t gold equivalent (0.30 g/t gold, 11.9 g/t silver, 0.7 per cent lead and 0.8 per cent zinc) over 24 meters downhole from 5.8 meters downhole

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

"This initial drilling intersected multiple subparallel veins in the Apollo area, demonstrated strong gold grades and accurately located the veins at depth. Drilling a wide stockwork zone surrounding the Sitka workings increases the economic potential of this area and demonstrates proof of our geologic concept that this area has more mineralized material to offer. The company will begin systematically drilling at Apollo-Sitka when we recommence our program in late March with a goal of defining the full extent of mineralization found by earlier miners."

The Unga project is located on the Unga and Popof Islands in Alaska’s Aleutian chain approximately 900 kilometers southwest of Anchorage.

                                     

The project hosts an intermediate-sulphidation epithermal gold deposit located within the district-scale property that encompasses 240 square kilometres across the two islands.

Interestingly, the Apollo Mine was Alaska’s first underground gold mine — producing between 100,000 and 130,000 ounces of high-grade gold ranging from 7 to 12.8 g/t between the late-1880s and early-1920s.

Fast forward to today, Heliostar is the first-ever company to drill beneath the old workings and, as noted, has already confirmed the continuance of vein structures at-depth.

The company plans to have two RC drills and one diamond drill rig spinning on the property within the next three to four weeks to follow up on several high-priority targets.

Additionally, Heliostar is advancing its three gold-silver projects in Sonora, Mexico — La Lola, Cumaro, and Oso Negro.

Current exploration activities include a 1,500 meter drill program underway at the 63.6 sq km La Lola project nearby to Equinox Gold’s Mercedes mine, First Majestic Silver’s Santa Elena mine, SilverCrest’s Las Chispas deposit, Silver Tiger Metals’ El Tigre deposit, and Grupo Mexico’s giant La Caridad mine. 

                                    heliostar

For speculators in the junior resource space, Heliostar offers exposure to multiple precious metals projects in proven mining districts with plenty of newsflow on tap for the remainder of 2021 and into next year.

Our own Gerardo Del Real of Junior Resource Monthly sat down with Heliostar CEO, Charles Funk, to discuss the latest drill results from Alaska and the current drilling in Mexico. Listen in to the interview here (transcript is also available).

Also, be sure to 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.