Charles Funk, President and CEO of Heliostar Metals (TSX.V:HSTR – OTCQX:HSTXF – FRA: RGG1) joins me to recap the January 30th news release reporting a batch of drill results from the La Colorada Mine in Mexico.
We delve into details of the 23 reported drill holes, all from the Creston pit, and the overall goals of the drill program. Key points include the expansion plans of the Creston pit, efforts to improve mine economics by converting waste material into valuable ore, and the impacts of new permits being issued in Mexico. They also touch on the potential for future underground mining at La Colorado and the financial considerations for the mine’s expansion.
Charles gives an in-depth analysis of the latest drill results from the Creston pit, on the LA Colorada Mine, where 23 holes have been reported, indicating higher than expected grades in material considered to be waste. The conversation covers the upcoming feasibility study, which aims to expand the Creston pit and convert waste material into valuable ore, potentially enhancing gold production. Charles explains that the goal is to achieve 50,000 to 100,000 ounces of annual production, which represents a substantial expansion from the current output sourced from low-grade stockpiles. The discussion also touches on the longer-term potential for underground mining at La Colorado, based on high grade gold deeper intercepts.
Finally, Charles provides insights into the permitting landscape in Mexico, noting recent positive shifts that could benefit Heliostar Metals, especially the San Augustine Project.
Please email me at Fleck@kereport.com with any follow up questions for Charles.
Click here to visit the Heliostar Metals website to learn more about the Company.