Plan to Restart Mining Operations at La ColoradaTODAY: Heliostar Metals (HSTR.v HSTXF) Announced Plan to Restart Mining Operations at La Colorada Mine, Mexico in January 2025 Today, Heliostar Metals (HSTR.v HSTXF) announced it has undertaken a work program to restart mining operations at the La Colorada Mine in January 2025, focusing initially on the Junkyard Stockpile.
The stockpile, located near the mine’s crushing circuit, is a historical waste rock storage site containing material mined in the 1990s. Recent evaluation efforts included 57 drill holes across a 2,290-meter area, resource modeling, and metallurgical testing.
The restart aims to transition from residual leaching to active mining and crushing, aligning with HSTR's goal to become a mid-tier gold producer. A technical report, incorporating results from the Junkyard Stockpile and an expansion of the Creston Pit, is expected in January 2025.
Further testing on a historic tailings facility beneath the stockpile could offer additional future opportunities
Highlighting this development as critical to achieving the company’s production goals for 2025, HSTR's CEO Charles Funk, commented:
"Recommencing mining operations at La Colorada is a key step for Heliostar to start 2025. The plan to recommence crushing and stacking, paused since September 2023, will drive the Company's guidance forecast next year. Over recent months the Junkyard Stockpile has been a focus with fifty-seven holes completed, a metallurgical assessment undertaken and quotes have been sought and received to select a mining contractor. A restart and the pending technical report for La Colorada has it strongly placed to drive Heliostar towards our goal of becoming a mid-tier gold producer."
Notably, HSTR was recently assigned a $2.00 price target, over three times its current valuation, by Cormark Securities with its flagship Ana Paula project in Mexico set to deliver over 100,000 ounces annually by 2028, complemented by recent acquisitions like La Colorada and San Agustin projected to add 200,000 ounces in 2024:
https://x.com/StckMasterFlash/status/1866227302373421405 Supported by an experienced management team and a steep valuation discount relative to peers, HSTR presents a compelling investment case with clear milestones and substantial production growth ahead.
Full News Release:
https://www.heliostarmetals.com/news-articles/heliostar-plans-to-restart-mining-operations-at-la-colorada-mine-mexico Posted on Behalf of Heliostar Metals Ltd.