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68802616 heliostar metals ltd heliostar set to expand la colorada with strong drill results and key permits 296
Executive Summary
AI-generatedHeliostar Metals announced positive drill results from the Veta Madre pit area at its La Colorada mine in Mexico, indicating significant mineralization potential. These findings support plans to expand the current reserve into a larger 'Veta Madre Plus' pit cutback. The company has secured necessary permits and is targeting an additional 20,000 ounces of gold above existing reserves, aiming for production from the expanded pit in the first half of next year.
Heliostar Metals Ltd. is expanding its La Colorada mine in Sonora, Mexico, based on strong drill results and permits for Veta Madre pit expansion. This increases future gold reserves and production capacity, positively impacting the company's profitability and potentially increasing local supply of gold.
Key Insights
- Drill results identified high-grade mineralization within the Veta Madre area, supporting a larger expansion known as 'Veta Madre Plus'.
- The company has received final permits, including the Change of Use of Soils (CUS) permit, for the pit expansion.
- Heliostar plans to commence pre-stripping and engineering work on the expanded Veta Madre Pit in early Q3 2026.
- The expansion is projected to add approximately 20,000 ounces of gold above the current reserves at La Colorada.
- Cash flows from La Colorada and San Agustin are expected to fund the development of the flagship Ana Paula project.
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