Heliostar Drills 2.5 Metres of 92g/t Silver in First Holes, Drilling Ongoing at La Lola, Mexico
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Heliostar Drills 2.5 Metres of 92g/t Silver in First Holes,
Drilling Ongoing at La Lola, Mexico
Vancouver, Canada, March 29th, 2021 – Heliostar Metals Limited (TSX.V: HSTR, OTCQX: HSTXF, FRA: RGG)
("Heliostar" or the "Company") 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 u p 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 c omprise 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.
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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 s hallow 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.
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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
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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 C entennial Zone is located on neighbouring Popof Island within four kilo metres 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.
For additional information please contact:
Charles Funk
Chief Executive Officer
Heliostar Metals Limited
Email: [email protected]
Rob Grey
Investor Relations Manager
Heliostar Metals Limited
Email: [email protected]
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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Forward-Looking Information. This release include s certain statements that may be deemed "forward- looking
statements". Forward-looking statements are statements that are not historical facts and are generally, but not
always, identified by the words "expects", "plans", "anticipates", "believes", "intend s", "estimates", "projects",
"potential" and similar expressions, or that events or conditions "would", "may", "could" or "should" occur.
Forward-looking statements in this press release include Heliostar’s plans to continue aggressive exploration at
Unga in 2021 and its goal of defining a resource in excess of one million ounces, its plan to continue infill drilling
to expand to depth where the system remains open, and its belief that the SH- 1 prospect has considerable
potential for expansion. Although Heliostar believes that the expectations expressed in such forward -looking
statements are based on reasonable assumptions, such statements are not a guarantee of future performance
and actual results may differ materially from those in the forward- looking statements. Factors that could cause
the actual results to differ materially from those in forward-looking statements include market prices, exploitation
and exploration successes, weather, continued availability of capital and financing, and general economic, market
or business conditions. Investors are cautioned that any such statements are not guarantees of future
performance and actual results or developments may differ materially from those projected in the forward-
looking statements. Forward- looking st atements are based on the beliefs, estimates and opinions of the
Company's management on the date the statements are made. Except as required by applicable securities laws,
the Company undertakes no obligation to update these forward- looking statements in the event that
management's beliefs, estimates or opinions, or other factors, should change.