Heliostar Metals (HSTR.V) continues to pull high grade gold mineralization out of the holes it is completing on its flagship Ana Paula project. The recent assay results, released last week, have now expanded the high grade panel to about 280 meters from close to the surface. Additionally, the assay results encountered in holes AP23-303 and 304 are respectively 14% and 3% higher than what was predicted based on the current resource model.

And as you can see in the table above, hole 305 also encountered interesting gold grades. With almost 48 meters containing 3.2 g/t gold, there definitely is continuity in the system and intervals of 2.8 meters containing 16.15 g/t gold and 7.4 meters containing 4.77 g/t gold have a good shot at making it into a future mine plan. The assay results from this hole are also interesting from a structural point of view. While the high grade mineralization confirms the high grade panel appears to continue down dip, it does look like the panel is separating into more discrete structures in that hole. Additional exploration will obviously be needed to gain more insight on this side of the high grade panel but intriguingly, the grades encountered in hole 305 are in excess of 300% higher than what was predicted by the resource model.

We are now just weeks away from an updated resource calculation as Heliostar is targeting to release the updated resource estimate in November. This updated resource calculation will include the data from just over 3,200 meters that have been drilled in about 18 holes.

Disclosure: The author has a long position in Heliostar Metals. Heliostar is a sponsor of the website. Please read the disclaimer.

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