High-Grade Gold in Alaska Plus High-Grade Silver in Mexico

 

 

 
Heliostar Metals (TSX V: HSTR)(OTC: HSTXF) — currently trading around C$1.15 per share — has released results from multiple high-grade channel samples from previously undrilled vein outcroppings at its Oso Negro Silver Project in northern Sonora, Mexico.

Highlights include:
 
  • 1,428 grams per tonne (g/t) silver equivalent (AgEq) over 1.2 meters

  • 588 g/t AgEq over 1.8 meters

  • 362 g/t AgEq over 2.4 meters

  • 360 meters of strike with an average width of 1.3 meters and weighted average grade of 420 g/t silver equivalent
Heliostar CEO, Charles Funk — whom you’ll be hearing more from momentarily — commented 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."
 
 
 
 
As denoted in the above map, Heliostar is advancing a total of 3 early-stage projects in the district: Oso Negro, La Lola, and Cumaro. 
 
  • 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.
While it’s easy to get caught up in all of the high-grade activity in Mexico, let’s not forget that the Heliostar team has multiple drills [two RC rigs and one diamond core rig] turning at its flagship Unga Gold Project located on the Unga and Popof Islands in Alaska’s Aleutian chain.

Mr. Funk added: 
 
 
"This program is the earliest commencement of drilling undertaken at the project in its history. With three drill rigs operating, the company plans to complete an initial 7,000 metre program to follow-up and extend the open gold intersections defined last year at SH-1, Apollo, and Aquila. The company has C$7.2 million in cash and investments and closing the recent capital raise has allowed us to expand the Phase 1 program. Heliostar looks forward to some of the earliest assay results from summer projects in Alaska and Canada in 2021 due to this early start."
 

 

 
 
Thirty holes have been completed thus far with results due shortly. And keep in mind also that the SH-1 target already boasts an Inferred resource of 384,000 ounces of gold at 13.8 g/t — so very high grade. The company is aiming to expand on that in the current drill round.

It’s a well designed strategy of having drills turning pretty much all year-round. As soon as drilling is wrapped up at Unga, the Heliostar team will begin mobilizing to Oso Negro to get a rig going there.

Hence, as results are being released for the flagship in Alaska, the Heliostar team will 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. Plus, the company is cashed-up with ~C$8.5 million in the treasury at last check.

Our own Gerardo Del Real of Junior Resource Monthly sat down with Heliostar CEO, Charles Funk, to go over the year-round drilling strategy via the flagship in Alaska and the three early-stage silver projects in Mexico. CLICK HERE TO LISTEN. Transcript is also available

Be sure to also click here for our feature 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.