Heliostar Expands Aquila Discovery to 475 Metres with Multiple New Intercepts from Surface at Unga, Alaska
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Heliostar Expands Aquila Discovery to 475 Metres with
Multiple New Intercepts from Surface at Unga, Alaska
Vancouver, Canada, September 20th, 2021 – Heliostar Metals Limited (TSX.V: HSTR, OTCQX: HSTXF, FRA: RGG)
("Heliostar" or the "Company") is pleased to announce results from the six additional Reverse Circulation (RC)
holes completed at the Aquila vein target, part of the large scale Unga district in Alaska.
These results position Aquila as a third centre of mineralization at the Unga project. The target is connected by
road to the SH -1 Resource and the former Apollo Mine, providing convenient access for further lower cost
exploration and potential mining options.
Highlights
• Intercepts over 475 metres (m) of length that is open to the northeast and at depth
• Geological evidence is that this shallow mineralization is only the top of the system
• High grade intercepts within a broader halo of lower grade gold mineralization from surface
AQRC21-12: 1.77 g/t gold over 18.28 m from 4.57 metres (m), including;
▪ 3.44 g/t gold over 7.62 m from 10.67m
AQRC21-13: 0.55 g/t gold over 41.15 m from 1.52m, including;
▪ 5.95 g/t gold over 1.52 m from 4.57m
All numbers are rounded and widths represent drilled lengths. True thickness is estimated at 80-95%
Heliostar CEO, Charles Funk, commented: “The 2021 program continues to deliver, showing the SH-1 Resource is
just one of many high grade targets within the Unga district. These results build on those from earlier in
September at Aquila and define a new zone with intercepts from surface that ar e wide open for expansion .
Systematic exploration is proving very successful to unlock the Unga District and more assay results are pending
from this year’s program , including from the SH-1 Resource and Apollo targets. Planning has commenced for
drilling at Centennial in November and December due to the ability to drill year-round on parts of the project.”
Aquila Target
The Aquila Target comprises outcropping epithermal quartz veins within the Shumigan vein corridor located 5
kilometres southwest of the SH-1 Resource (384,000 inferred ounces of gold at 13.8 g/t gold). It is one of the four
highest priority targets on the Unga project (Figure 1) amongst 38 areas of either mineralization, mineralized
outcroppings, historical resources and/or anomalies.
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Figure 1: Plan Map of Unga District with highest priority targets highlighted. The reader is cautioned that a Qualified Person
has not been able to independently verify the resource at Centennial and Heliostar plans on conducting an exploration
program at Centennial to establish the grades and widths of mineralization at these prospects. The SH-1 resource is current
and is referenced in the “Amended and Restated N.I. 43 -101 Technical Report & Resource Estimate for the SH -1 Gold and
Silver Deposit” by W.T. Ellis, dated November 24, 2020, and which can be found at www.sedar.com.
In 2021, thirteen RC holes were completed at Aquila; all intersected the Amethyst Vein (Figure 2) which now has
a drill defined minimu m strike length of 475 metres. Two separate zones along the vein contain higher -grade
gold mineralization and both remain open for expansion with follow-up diamond drilling.
New results from drill holes AQRC21-12 and 13 are step-out holes and were drilled 80 metres and 120 metres to
the to the northeast of the discovery hole AQ20-01 (4.46 g/t gold over 3.6 m and 2.24 g/t gold over 17.37 m). In
total, five holes define a zone of continuous mineralization that is at least 1 20 metres long and tha t remains
undrilled and open to the northeast and at depth. Surface samples returned up to 30.8 g/t gold to the northeast
that are yet to be drill tested.
Heliostar performed all 2021 drilling at Aquila with RC and the deepest drill intercept to date is o nly 70 metres
below surface. Mineralization is open at depth with the expectation that there is a significant window for
mineralization down-dip.
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Figure 2: Aquila plan map with veins , gold in rock chip samples and drill hole locations shown . Inset showing continuous
intercepts in holes AQ20-01, AQRC21-01, AQRC21-05, AQRC21-12 and AQRC21-13.
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The company interprets that the current drilling as being at only at the top of the mineralized system. The
geological evidence of a high gold to silver ratio, high precious metals to base metal ratio, relative elevation of
Aquila to SH-1 and Apollo and specific quartz textures observed within the veins indicates a shallow level within
the system. At Apollo, mineralization was defined over 500 metres vertically and drilling at SH-1 has defined high
grade gold over 250 metres vertically that remains open at depth.
Heliostar’s geologists infer that the Aquila target has excellent potential for further expansion.
It is also important to note that gold mineralization becomes thicker to the northeast, around drill holes AQRC21-
12 and 13, indicating that the gold mineralizing system may be becoming more robust in this direction. This area
is a major intersection of the regionally significant northeast str iking Shumagin Vein Corridor and several east -
west striking veins. Vein intersections often form the basis for gold rich shoots within the veins which is looking
likely in this zone at Aquila.
Table of Results
Drillhole From To Interval Gold Silver
(m) (m) (m) (g/t) (g/t)
AQRC21-01* 60.96 68.58 7.62 2.45 4.61
Including 64.01 67.06 3.05 5.43 8.55
Including 65.53 67.06 1.53 9.91 14.75
AQRC21-02 No significant results
AQRC21-03* 89.92 91.44 1.52 0.66 2.57
AQRC21-04 No significant results
AQRC21-05* 13.72 15.24 1.52 0.96 0.56
And 73.15 74.68 1.52 5.57 29.50
AQRC21-06 No significant results
AQRC21-07 No significant results
AQRC21-08 No significant results
AQRC21-09* 28.96 32.00 3.04 6.51 8.22
Including 30.48 32.00 1.52 12.5 11.7
And 60.96 70.10 9.14 0.25 2.98
AQRC21-10 No significant results
AQRC21-11 No significant results
AQRC21-12 4.57 22.86 18.29 1.77 3.28
Including 10.67 18.29 7.62 3.44 5.62
Including 15.24 16.76 1.52 5.84 10.55
AQRC21-13 1.52 42.67 41.15 0.55 1.25
Including 4.57 6.10 1.52 5.95 4.41
And Including 41.15 42.67 1.52 1.12 4.06
Table 1: Table of significant intersections from Aquila. True thickness is estimated at 70-95% of downhole lengths. *
Denotes a hole that has previously been released
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Quality Assurance / Quality Control
Drill samples were shipped to ALS Limited in Whitehorse, Yukon for sample preparation and for analysis at the
ALS laboratory in North Vancouver. The ALS Whitehorse a nd North Vancouver facilities are ISO/IEC 17025
certified. Silver and base metals were analyzed using a four-acid digestion with an ICP finish and gold was assayed
by 30-and 50 gram fire assay with atomic absorption (“AA”) spectroscopy finish and overlimits were analyzed by
50g fire assay with gravimetric finish.
Control samples comprising certified reference samples, duplicates and blank samples were systematically
inserted into the sample stream and analyzed as part of the Company’s quality assurance / q uality control
protocol.
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.
Drillhole Details
Prospect Drillhole Easting Northing Elevation Azimuth
(°)
Inclination
(°)
Total
Depth (m)
Aquila AQRC21-01 394860 6117034 180 300 -45 137.2
AQRC21-02 394838 6117051 188 300 -45 158.5
AQRC21-03 394880 6117022 178 300 -45 131.1
AQRC21-04 394826 6117030 188 300 -45 70.1
AQRC21-05 394882 6117051 179 300 -45 100.6
AQRC21-06 394795 6116951 178 300 -45 100.6
AQRC21-07 394770 6116927 178 300 -45 91.4
AQRC21-08 394745 6116894 175 300 -45 70.1
AQRC21-09 394719 6116865 171 300 -45 70.1
AQRC21-10 394677 6116822 165 300 -45 76.2
AQRC21-11 394624 6116791 163 300 -45 91.4
AQRC21-12 394884 6117108 188 305 -45 100.6
AQRC21-13 394926 6117128 186 305 -45 70.1
Table 2: Aquila drill hole details. NAD83, Zone 4 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.
1090 West Georgia Street, Suite 700, Vancouver BC, V6E 3V7, Canada -- Tel +1 236 429 9306
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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 240 km2 across the two islands. Additional targets on the property include porphyry copper-gold
targets, high sulphidation targets 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 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
early-stage projects considered prospective for epithermal gold-silver mineralization.
For additional information please contact:
Charles Funk Rob Grey
Chief Executive Officer Investor Relations Manager
Heliostar Metals Limited Heliostar Metals Limited
Email: [email protected] Phone: +1 778 357 1313
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.
Forward-Looking Information. This release includes 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", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditi ons "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 availab ility 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 statements 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, t he
Company undertakes no obligat ion to update these forward -looking statements in the event that management's beliefs, estimates or
opinions, or other factors, should change.