Heliostar Metals Ltd.

[LongDonSilver]

Heliostar has been good to me this year and is my top returner at over 47% ROI at this point in time. Anyone else holding Heliostar shares?

DYODD and your results will vary!!!

[LongDonSilver]

"Heliostar Drills 53.2 m Grading 11.0 g/t gold and 44.5 m Grading 11.0 g/t gold at Ana Paula Project, Mexico

6:32 am ET May 23, 2023 (Newsfile) Print

Highlights:

Hole AP-23-292
101.1 metres @ 8.3 grams per tonne (g/t) gold including;
53.2 metres @ 11.0 g/t gold



Hole AP-23-291
118.5 metres @ 5.4 g/t gold including;
44.5 metres @ 11.0 g/t gold including;
4.0 metres @ 48.5 g/t gold



These first drill results confirm our drilling thesis, which we believe will lead to a larger and higher grade core within the Ana Paula deposit

Vancouver, British Columbia--(Newsfile Corp. - May 23, 2023) - Heliostar Metals Ltd. (TSXV: HSTR) (OTCQX: HSTXF) (FSE: RGG1) ("Heliostar" or the "Company") is pleased to report its first drill results from the Ana Paula project in Mexico. These two holes are the first drilled into the property by Heliostar, with the on-going drill program targeting the High Grade Panel at the core of Ana Paula that Heliostar believes has the potential to host a high margin, underground gold mine development opportunity.

Heliostar CEO, Charles Funk, commented, "We are thrilled with the first holes at Ana Paula. Drill results like this are rare anywhere in the world. Ana Paula's high grade and consistently wide intervals of gold mineralization demonstrate the underground mine potential. Heliostar will continue the 16-24 hole program designed to increase the Ana Paula resource, with a focus on infill and expansion of the High Grade Panel. Both holes exceeded expectations based on the current resource model. Hole AP-23-291 is particularly encouraging as it returned a 30% increase relative to the current resource model, at a >5 g/t cut-off grade. This builds confidence that infill drilling can increase ounces and potentially lift the overall grade of the deposit."

Ana Paula is an advanced gold project with an open pit mine permit, a prefeasibility study1 and over US$75M in recent exploration and development expenditures. These results are the first in a re-scoping of the asset with a view to underground mining. The re-scoping program includes drilling, underground mine design, geometallurgical optimization studies and a resource update, all of which will be delivered in 2023. The company believes this program will deliver a technically simpler and materially improved Net Present Value (NPV) for the project.

Drill Details

The Company's drill program centres on resource and reserve growth, a key priority of the effort to re-evaluate the project as a high-grade underground mine. The Company expects the drilling data will improve resource estimation and allow the Company to evaluate potential expansion of the High Grade Panel. In addition, the drilling also generates the geotechnical data required for engineering evaluations and metallurgical test work for flow sheet optimization.

Presently, the High Grade Panel is approximately 250 metres long by 100 metres high by 60 metres thick. It begins at surface and plunges 40 to 45 degrees to the west. Previous operators' drill holes across the panel returned intercepts including 63.4 metres at 15.3 g/t gold and 57.6 metres at 18.6 g/t gold. The panel is hosted primarily in a polymictic breccia unit, although it extends outward into the surrounding granodiorite and limestone. Gold mineralization is directly associated with the proportion of sulphide minerals in the rock. This provides a valuable visual key to the presence of gold mineralization.

There are two key opportunities to increase the resource, reserve, and grade of the High Grade Panel. Firstly, volume increase is possible both up- and down-dip of the current plunging mineralized panel (Figure 1). Secondly, the High Grade Panel is inadequately defined by historic drilling. The High Grade Panel contains areas of closer spaced drilling, less than 25 metres apart, and other gaps with greater than 40 metre spacing. In these greater than 40 metre gaps, despite consistent geology and mineralization in the nearby holes, the resource model has conservatively reduced the grade with increasing distance from data points (Figure 1). The two infill holes reported here, particularly hole AP-23-291, demonstrate this upside, with a significant increase in high grade (greater than >5 g/t) than predicted by the resource model."

[LongDonSilver]

Youtube from Heliostar CEO: https://www.youtube.com/watch?v=ouFP23XIXJ4