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Heliostar Drills 2.5 Metres of 92g/t Silver in First Holes, Drilling Ongoing at La Lola, Mexico

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Heliostar Metals Limited (TSX-V: HSTR) (OTCQX: HSTXF) (FSE: RGG1) is pleased to announce results from the first two holes ever completed at the La Lola project in Sonora, Mexico.

 

Highlights

 

  • The company is drill testing beneath the main La Barra vein at La Lola which attains widths of up to 40 metres
  • The first three holes intersected the vein and hole LOLA21-02 returned significantly higher silver grades than the vein at surface, supporting the company’s interpretation that grades will increase with depth
  • Drilling is ongoing with hole three recently completed and hole four in progress

 

Heliostar CEO, Charles Funk, commented, “These results are an excellent start to our drilling program at La Lola. To prove that higher grades occur within the main La Barra vein is a significant development and the company continues to drill looking for the heart of the system. This 1,500-metre program is the first ever drilling completed at La Lola and if Heliostar can demonstrate ore grades we can then step-out along the entire length of the La Barra vein.”

 

La Lola Drill Program

 

The current drilling program commenced with a shallow hole to confirm the dip of the main La Barra vein, followed by successively deeper tests of the vein. In holes LOLA21-01, LOLA21-02 and LOLA21-03, two subparallel veins have been intersected and comprise multi-phase massive to crystalline quartz, calcite and fluorite with local very fine-grained sulphides. The quartz rich phases of the vein range from locally finely banded at surface to a variety of breccia textures, including high energy breccia textures, at depth. This is interpreted as a vector towards the mineralized centre of the epithermal vein.

 

Drillhole From To Interval Gold Silver Comment
(m) (m) (m) (g/t) (g/t)
LOLA21-01 No Significant Results
LOLA21-02 21.30 23.80 2.5 0.01 92.0 Some assays pending
LOLA21-03 Assays Pending

 

Table 1: Table of intersections from the La Barra Zone. True thickness is unknown.

 

La Lola Project

 

The La Lola property is a 63.6 square kilometre land package near 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.

 

The property includes the prospective La Barra vein, a 5 kilometre-long quartz-carbonate-fluorite vein with elevated values of gold, silver and pathfinder elements. In outcrop the vein is up to 40 metres wide and has textures typical of shallow epithermal formation. Broad clay alteration, fluorite and low temperature textures suggest that the surface expression of the La Barra vein is the higher levels of an epithermal system and that the metal-rich zone of the epithermal system may exist at depth.

 

Figure 1: Cross section through LOLA21-01, LOLA21-02 and LOLA21-03 looking towards the north. Hole LOLA21-04 is in progress.

 

Precious metals values in rocks on surface generally contain low values as would be expected based on the shallow level expression of the geological model. However, values up to 56.6 grams per tonne (g/t) gold and up to 424 g/t silver have been found within the larger vein zone and are believed to represent stronger pulses of mineralization that were able to propagate closer to the surface. Historic mining on the vein has focused on fluorite that occurs near surface within the vein zone and is a shallow level feature of other productive systems such as at the Los Gatos mine in Chihuahua.

 

Figure 2: Map of La Lola claim with gold in rock chips and veining and alteration shown.

 

 


Figure 3: Detailed plan map of drilling area at La Barra vein.

 

 

 

Drillhole Easting Northing Elevation Inclination
(°)
Azimuth
(°)
Total Depth
(m)
LOLA21-01 646109 3391055 1194 -45 100 252.85
LOLA21-02 646297 3391074 1217 -90 n/a 361.3
LOLA21-03 646492 3391039 1182 -55 265 367.2
LOLA21-04 646492 3391039 1182 -80 265 In progress

 

Table 2: La Lola drill hole details. WGS84, Zone 12 Coordinate system.

 

About Heliostar Metals Ltd.

 

Heliostar is a well-financed junior exploration and development company with a portfolio of high-grade gold projects in Alaska and Mexico. The company’s flagship asset is the 100% controlled Unga Gold Project on Unga and Popof Islands in Alaska. The project hosts an intermediate sulfidation epithermal gold deposit, located within the district-scale property that encompasses 240km2 across the two islands. Additional targets on the property include porphyry, high sulphidation and intermediate sulphidation epithermal veins. On Unga Island, priority targets include: the SH-1 and Aquila, both on the Shumagin Trend, the former Apollo-Sitka mine, which was Alaska’s first underground gold mine and the Zachary Bay porphyry gold-copper prospect. Gold mineralization at the Centennial Zone is located on neighbouring Popof Island within four kilometres of infrastructure and services at Sand Point.

 

In Mexico, the company owns 100% of three early stage epithermal projects in Sonora that are highly prospective for gold and silver. Cumaro forms part of the El Picacho district, while the Oso Negro and La Lola projects are also prospective for epithermal gold-silver mineralization.

 

Qualified Person

 

The Company’s disclosure of technical or scientific information in this press release has been reviewed and approved by Stewart Harris, P.Geo., Exploration Manager for the Company. Mr. Harris is a Qualified Person as defined under the terms of National Instrument 43-101.

 

Posted March 29, 2021

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