Although the market lately has been focusing on the producing assets of Heliostar Metals (HSTR.V), we shouldn’t forge the company is currently working on a 15,000 meter drill program on its Ana Paula underground gold project in Mexico’s Guerrero State. The company has completed almost 40% of the anticipated program as it has completed 18 holes for a total of just over 5,500 meters. One drill rig is currently working on an infill drill program while a second drill rig is still focusing on resource expansion.
The bullet points below highlight the excellent grades encountered during this infill drill program, and the high-grade mineralization confirms the consistency of the mineralized area in the High Grade Panel.
As you can see in the table below, Heliostar also completed two geotechnical holes focusing on gathering more data for mine development planning.
Heliostar remains very active on the exploration front; Since the closing of the acquisition of the producing mines last year, the company expects to complete 40,000-50,000 meters of drilling before the end of this year. The producing mines are generating the cash flow to fund the simultaneous drill programs on the projects.
The company has also published its Q2 results, and we will discuss these in a separate report.
Disclosure: The author has no position in Heliostar Metals. Heliostar is a sponsor of the website. This post is for educational purposes only; be mindful investing in junior mining stocks is risky and you may lose your entire investment if things go wrong. Please read the disclaimer.
