Heliostar Samples 1,428 g/t AgEq Over 1.2 Metres, Expands District by 1,100% and Discovers New Veins at Oso Negro, Mexico
1090 West Georgia Street, Suite 700, Vancouver BC, V6E 3V7, Canada -- Tel +1 844 753 0045
TSX.V: HSTR, OTCQX: HSTXF, FRA: RGG1
Heliostar Samples 1,428 g/t AgEq Over 1.2 Metres,
Expands District by 1,100% and Discovers New Veins at
Oso Negro, Mexico
Vancouver, Canada, June 3 rd, 2021 – Heliostar Metals Limited (TSX.V: HSTR, OTCQX: HSTXF, FRA: RGG 1)
("Heliostar" or the "Company") is pleased to announce results from its 2021 exploration mapping and sampling
program at Oso Negro in northern Sonora, Mexico.
Program Highlights at Oso Negro
• Multiple high grade channel samples define drill targets at the Prospecto Vein Zone including;
o 1,428 grams per tonne (“g/t”) silver equivalent (“AgEq”) over 1.2 metres
o 588 g/t AgEq over 1.8 metres
o 362 g/t AgEq over 2.4 metres
o 360 metres of strike with an average width of 1.3 metres and weighted average grade of 420
g/t silver equivalent
• Staking of a new claim, Angel de Plata 2, increases land position by 1,100% to 120 square kilometres
at Oso Negro
• Discovery of two new vein corridors on the new claim with mine dump samples from historic
workings up to 1,810 g/t AgEq
Heliostar CEO, Charles Funk, commented “ We now have over 360 metres of continuous, high silver and gold
grades at the main Prospecto vein at Oso Negro and have defined drill targets on all three previously known veins
on the property. In addition, the company has increased the land holding by over ten times and discovered two
new silver-bearing veins. The Fresnos vein is locally up to 70 metres wide and may represent the shallow levels
of a system. The Hebilla vein zone has many small, historic workings. Grab samples from these locales contained
high silver and gold grades. We are thrilled with these results and look forward to getting our team back onto
the project with a plan to complete a maiden drill program once we wrap up our current work program at Unga.”
Oso Negro Details
The Oso Negro district is a historic mining area with multiple zones of outcropping veins. Even though the veins
contained some historic workings, they remain undrilled. The company completed a detailed mapping and
sampling program on the claims purchased in 2020 and also recently completed a reconnaissance program of
stream sediments, mapping and sampling on the newly acquired Angel de Plata 2 claim (Fig. 1) .
The systematic sampling of the main claim has defined drill targets on four veins (Fig. 2):
• Prospecto Vein: Continous channel and representative grab samples over a strike of 360 metres have a
weighted average grade of 420 g/t AgEq over an average width of 1.3 metres
TSX.V: HSTR
OTCQX: HSTXF
1090 West Georgia Street, Suite 700, Vancouver BC, V6E 3V7, Canada -- Tel +1 844 753 0045
TSX.V: HSTR, OTCQX: HSTXF, FRA: RGG1
• Tere Vein: Grab samples samples over a strike of 730 metres have a weighted average grade of 172 g/t
AgEq over an average width of 1.04 metres. The vein remains open along strike.
• Prospecto Parallel Vein: A new vein parrallel to the Prospecto vein has been defined with a strike length
of 280 metres. A best representative grab of 393 g/t AgEq was returned over 0.75 metres
• Santa Rosa Vein: Channel, grab and dump samples define the vein over 190m of strike with a best grab
sample of 174 g/t AgEq over 1.9 metres
On the newly applied claim a 7,200 metre long, north-northwest trending vein system, Fresnos, has been mapped
and sampled. The vein is approximately three metres wide and locally expands to a width greater than 70 metres
at the intersection with a splay vein. The majority of samples contain very low grades of silver and gold however
the vein may represent the shallow levels of an epithermal system that contains higher grades at depth.
On the same new claim, the team discovered a second zone of veins, the Hebilla veins . These veins host many
historic mine workings on clay, quartz and sulphide altered structures and the team mapped th is east-west
trending vein system over an area of 1,800 metres by 1,000 metres. Six of nineteen dump and grab samples
collected in this area returned silver equivalent values over 100 g/t AgEq with a highest value of 1,501 g/t AgEq.
Detailed mapping and sampling will be completed on the new claim over the coming months to advance these
two new vein zones to drill ready status. The company plans to undertake a maiden drilling program at Oso
Negro in late 2021 upon completion of drilling at Unga in Alaska
Figure 1: Location Map of Oso Negro with new Angel de Plata 2 claim and recently discovered veins shown.
1090 West Georgia Street, Suite 700, Vancouver BC, V6E 3V7, Canada -- Tel +1 844 753 0045
TSX.V: HSTR, OTCQX: HSTXF, FRA: RGG1
Figure 2: Detail of Oso Negro vein sample results, with selected channel samples labelled.
Figure 3: Location map of Oso Negro with nearby deposits and Heliostar projects.
1090 West Georgia Street, Suite 700, Vancouver BC, V6E 3V7, Canada -- Tel +1 844 753 0045
TSX.V: HSTR, OTCQX: HSTXF, FRA: RGG1
Vein Sample ID Sample True
Width Gold Silver Lead Zinc Ag-Eq Au-Eq
Type (meters) (g/t) (g/t) (%) (%) (g/t) (g/t)
Santa Rosa 890112-113 Grab 1.9 1.45 58.1 0.19 0.05 173.8 2.32
890114 Grab 0.5 0.95 3.4 0.01 0.09 80.8 1.08
890116 Grab 0.6 13.30 534.0 0.35 0.76 1,566.3 20.88
Prospecto 890118 Grab 1.2 3.85 15.1 - 0.01 304.3 4.06
890119 Grab 0.3 3.92 39.7 - - 334.0 4.45
890121 Grab 0.35 1.46 12.2 - - 122.1 1.63
890122 Grab 0.35 1.20 87.1 - 0.04 178.5 2.38
890123 Grab 0.5 4.78 187.0 0.40 0.21 563.9 7.52
890124-126 Grab 2.4 3.29 89.1 0.21 0.61 361.7 4.82
890127 Grab 1.2 0.44 88.2 0.20 0.29 136.5 1.82
890128-129 Grab 1.35 2.96 17.4 - 0.01 240.4 3.21
890130 Grab 0.8 2.30 10.2 0.02 0.07 185.4 2.47
890133-134 Channel 1.3 0.72 52.4 0.08 0.38 120.8 1.61
890135 Channel 1.2 0.63 134.0 0.11 0.03 185.8 2.48
890136 Channel 1.8 2.55 346.0 0.37 1.22 587.7 7.84
890137 Channel 1.2 5.14 953.0 0.98 1.88 1,428.5 19.05
890139 Grab 0.7 2.44 19.1 0.12 0.12 209.5 2.79
Tere 890140 Grab 0.75 0.72 302.0 0.24 0.93 393.3 5.24
890141 Grab 1.8 0.76 40.1 0.19 0.03 103.8 1.38
890142 Grab 1.2 1.01 84.2 0.14 0.08 166.8 2.22
890145 Grab 0.4 1.03 85.6 0.18 0.02 168.8 2.25
890146-147 Grab 1.9 1.21 52.8 0.13 0.07 149.5 1.99
890151 Grab 0.7 0.54 109.0 0.05 - 150.9 2.01
890156 Grab 1 0.39 465.0 0.73 0.19 521.9 6.96
Hebilla 890274-275 Channel 1.8 0.05 118.2 0.28 0.60 149.5 1.99
Table 1: Table of channel and representative grab sample results from Oso Negro. Note: Gold equivalent is calculated using
the following formula: gold -equivalent = ((Au_g/t x 48.23) + (Ag_g/t x 0.6431) + (Pb ppm x 0.0019) + (Zn_ppm x 0.0021)) /
48.23. Silver-equivalent = ((Au_g/t x 48.23) + (Ag_g/t x 0.6431) + (Pb_ppm x 0.0019) + (Zn_ppm x 0.0021)) / 0.6431. Metal
price assumptions are $1,500 per ounce gold, $20 per ounce silver, $0.85 per pou nd lead and $0.95 per pound zinc.
General Mexico Exploration Update
The company has completed four holes at the La Lola project and assays results from the final two holes are
expected very soon.
Detailed mapping and sampling has been completed at the Cumaro project and results are also expected in the
coming weeks.
Heliostar’s portfolio of projects in Mexico are earlier stage than our flagship Unga asset but the company believes
each project has the potential to host a significant orebody . The work programs completed in early 2021 have
advanced each project and we plan to undertake drilling on each project over the next year.
1090 West Georgia Street, Suite 700, Vancouver BC, V6E 3V7, Canada -- Tel +1 844 753 0045
TSX.V: HSTR, OTCQX: HSTXF, FRA: RGG1
Unga Exploration Update
Drilling continues at a rapid pace at Unga with 26 holes completed to date. Two reverse circulation (RC) drill rigs
are at Apollo and one diamond drill rig is in operation at the SH-1 resource. Drilling at Aquila will commence next
week.
The company expects to report the first drilling results from the 2021 spring program at Unga in late June/early
July.
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 240km 2 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 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
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
Phone: +1 778 357 1313
Email: [email protected]
1090 West Georgia Street, Suite 700, Vancouver BC, V6E 3V7, Canada -- Tel +1 844 753 0045
TSX.V: HSTR, OTCQX: HSTXF, FRA: RGG1
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 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 econom ic, 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 obligation to update these forward -looking statements in the event that management's beliefs, estimates or
opinions, or other factors, should change.