Heliostar Metals (TSX: HSTR) has completed the infill drilling that will feed a feasibility study on its Ana Paula gold project in Mexico. The final batch of assays were released this morning, with results coming from both the High Grade Panel and the Expansion Zone.
The 2025-2026 program totalled 122 holes and 35,121 metres. 25,000 metres targeted inferred mineralization within the preliminary economic assessment mine plan, with the aim of upgrading it to support reserves. The remaining 10,000 metres tested down-plunge extensions in the Expansion Zone, outside the scope of that plan.
Highlights from the latest results include:
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- AP-26-409: 5.83 g/t gold over 52.35 metres from a depth of 46.85 metres
- Including 17.75 g/t gold over 12.55 metres
- AP-26-410: 5.14 g/t gold over 24.75 metres from a depth of 43.0 metres
- Including 11.28 g/t gold over 8.6 metres
- AP-26-405: 5.73 g/t gold over 16.55 metres from a depth of 218.45 metres
- Including 10.73 g/t gold over 7.55 metres
- AP-26-411: 6.88 g/t gold over 8.0 metres from a depth of 469.0 metres
- AP-26-314A: 4.33 g/t gold over 9.65 metres from a depth of 598.6 metres
- Including 10.64 g/t gold over 3.4 metres
- AP-26-412: 2.05 g/t gold over 18.85 metres from a depth of 565.3 metres
- Including 5.19 g/t gold over 6.4 metres
The 10.64 g/t gold intercept in AP-26-314A sits roughly 45 metres from the nearest intercept at that elevation. It is also 100 metres southwest of an earlier hole that cut 101.0 metres grading 5.43 g/t gold. Follow up hole AP-26-412, a 75 metre step-out, hit mineralization a further 110 metres to the northwest.
The Expansion Zone remains open to the south, west and at depth.
“We remain confident that we can achieve our target for the Feasibility Study of an initial 10-year mine life averaging 100,000 ounces of annual production,” said CEO Charles Funk. He added that the deposit could grow materially as the company chases gold deeper toward a source intrusion and skarn targets.
That contact skarn setting is the same style that hosts the multi-million ounce resources at Torex Gold’s Morelos Complex and Equinox Gold’s Los Filos mine nearby.
Only part of the exploration drilling is expected to make it into the feasibility study, leaving the rest as potential support for a longer mine life as the company works to advance the project. Last week, Heliostar submitted an environmental impact statement and risk study to Mexico’s environment ministry for an underground mine at Ana Paula. The underground design reduces surface disturbance by roughly 65% compared with the previously approved open pit plan. A construction decision is targeted for mid-2027.
