- Heliostar Metals Limited (HSTR) closes $20 million in financing
- The company plans to use to purchase and advance exploration at the Ana Paula Gold Project and for general working costs
- Heliostar is also working towards closing its transaction of Aurea Mining, a subsidiary of Argonaut which holds a 100 per cent direct interest in the Ana Gold Project
- The company also has an agreement with Argonaut to acquire 100 per cent interest in the San Antonio Gold project
- Heliostar is a junior mining company with high-grade gold projects in Mexico and Alaska
- Shares of the company are unchanged at $0.24 on Friday
Heliostar Metals (HSTR) has closed $20 million in financing.
Heliostar is also working towards closing the transaction of Aurea Mining, a subsidiary of Argonaut, which holds a 100 per cent interest in the ana Gold Project.
The company said in a press release it plans to use the funds for the purchase and advance exploration at the Ana Paula Gold Project as well as for general working costs.
Additionally, Heliostar has also been granted an option to acquire a 100 per cent interest in the San Antonio Gold project through an agreement with Argonaut and its subsidiary Compania Minera Pitalla SA. de CV.
The company said it and Argonault Gold continue to work towards closing the transaction.
Once the transaction is completed, the company plans to focus on developing the Ana Paula Project in Mexico. Heliostar is also continuing to expand the resource at the Unga Gold Project in Alaska.
The Ana Paula Project deposit contains proven and probable mineral reserves of 1,021,000 ounces of gold at 2.36 g/t gold and 2,254,000 ounces of silver at 5.22 g/t silver.
With its headquarters out of Vancouver, BC Heliostar is a junior mining company with a portfolio of high-grade gold projects in Mexico and Alaska.
Shares of Heliostar Metals (HSTR) are unchanged at $0.24 on Friday