Heliostar Metals (TSXV: HSTR) intends to restart mining operations at its recently acquired La Colorada mine in Mexico. The company this morning indicated that it has undertaken a work program on site, with crushing and stacking to begin in January 2025.
Operations at the mine are set to see a work program begin on the Junkyard Stockpile, which is a historic waste rock storage facility named after mining equipment that was previously stored there. The pile consists of material that was mined from the Gran Central Pit in the mid to late 1990’s.
Heliostar in August conducted a 2,290 metre drill program on the stockpile, which saw a total of 57 holes conducted, which also delineated a historic tailings facility beneath the stockpile. Results from the program are expected to be released within a technical report in January.
READ: Heliostar To Produce Up To 20,250 Gold Equivalent Ounces In 2024 From New Mines
Crushing and stacking is set to begin in January at La Colorada, which will see the restart initially augment then replace current production on site that is occurring from residual leaching.
“Recommencing mining operations at La Colorada is a key step for Heliostar to start 2025. The plan to recommence crushing and stacking, paused since September 2023, will drive the Company’s guidance forecast next year. [..] A restart and the pending technical report for La Colorada has it strongly placed to drive Heliostar towards our goal of becoming a mid-tier gold producer,” commented Charles Funk, CEO of Heliostar.
Heliostar Metals last traded at $0.66 on the TSX Venture.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
