| Announcement Date: | 2022-02-28 |
|---|---|
| Announcement Type: | Drilling Results |
| Announcement Code: | NI43-101 |
| Company name: | Heliostar Metals Ltd. |
| Project name: | Cumaro |
| Location: | Mexico |
| Commodities: | Gold,Silver |
| Highlight: | Drilling results incl. 8.1m @ 0.71g/t Au, 13.8g/t Ag from 29.0m |
| Resources: | only available to subscribers |
| CP/QP: | only available to subscribers |
| Announcement summary: | Vancouver, Canada, February 28th, 2022 – Heliostar Metals Limited (TSX.V: HSTR, OTCQX: HSTXF, FRA: RGG1) (“Heliostar” or the “Company”) announces gold mineralized intercepts in drilling at the 100% owned Cumaro Project in northern Sonora, Mexico. Drilling commenced in December 2021 and continued through early February 2022, with a total of 19 holes completed to date. Sixteen holes totalling 2,160 metres have been completed at the Verde Target to date. At the Dos Amigos Target, three holes totalling 642 metres were completed during early February. Drilling is currently underway at the Palmita Target. Drilling is advancing quickly and will progress to El Salto and Basaitegui in rapid succession. Assays have been returned for the initial 11 of 16 completed holes drilled at the Verde Target (Figure 1). Of the 11 holes, 10 returned gold values of significance (Table 1). This indicates a predictable epithermal system with quartz and gold veining encountered where expected based on the geologic model and drill targeting. Grades encountered in drilling are generally lower than those found at surface. Company geologists believe the change from a more brittle andesite flow unit to a less brittle tuff unit beneath is the primary reason for the lower grades. Veins typically do not develop as well in softer rock units as they do in harder, more brittle rock units. Evidence of faulting, parallel with and later than the veins has broken up these veins in some locations as well. |
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