(TheNewswire)
Vancouver, Canada - TheNewswire - January 19 th , 2021 – Heliostar Metals Limited(TSXV:HSTR ) (OTC :RGCTF ) ( FRA:RGG)( "Heliostar" or the "Company" )is pleased to announce that Mr. Robert Grey has joined as InvestorRelations Manager.
“We are excited about the changeswe are making at Heliostar. Bringing Rob in to join the Heliostarteam is another key appointment for the company. Rob’s experience inthe role, highlighted by multiple successful transactions of emerginggold projects, will assist Heliostar in achieving our aggressive goalsfor 2021.” Commented Heliostar CEO, CharlesFunk. “ Rob will hit theground running as the company expects first assay results from theUnga project before the end of January. The company is alsopreparing exploration programs for our Mexican projects in Februaryand at Unga in late March.”
Mr. Grey has over 20 years of experience in theresource industry and recently held senior communication positionswith both the highly successful Extorre Gold Mines Ltd., and ExeterResources Corporation which were both transacted with major miningcorporations for a total of $661M.
Unga Exploration Update
The 2020 Unga project drill program was successfullycompleted in the last week of November. 23 holes have been completedfor a total of 3,180 metres with the SH-1, Aquila, Apollo, Sitka andEmpire Ridge targets tested. Drillingintersected target veins in nineteen of the twenty-three completedholes. The completion of assay results hasbeen slower than initially expected and the company has utilizedmultiple sample preparation laboratories to minimize assay turnaroundas much as possible. The company expects the first results fromdrilling at SH-1 before the end of January and will receive additionalresults throughout February and March. The company then plans torecommence exploration at our Unga project in Alaska in late March andwill provide additional updates ahead of commencing the program.
2021 Mexico Explorationprogram
The company plans to start an exploration program atits Mexican projects in Sonora State next month. Drilling at La Lolashould commence in February. The work at La Lola focuses on the LaBarra vein, a 5 km long structure with elevated gold and silvervalues. This highly prospective area has never been drilled.
Mapping and sampling will be completed at Oso Negro andCumaro in February and March. Oso Negro is a large, early stage goldand silver project with outcropping veins. Sampling this spring shouldprovide drilling targets for later in 2021.
Cumaro is part of the El Picacho District. Work onthe veins along the same structural trend, just 2 km north of Cumaro,on claims recently purchased by Silvercrest Metals intersected widewidths of high grade gold with silver. As with Oso Negro, Cumaro’sregional work this spring should provide drill targets for thefuture.
Stock Option Grant and IRagreement
The company has granted two employees of the Companystock options exercisable to acquire up to a total of 125,000 commonshares under the Company's Stock Option Plan. The Options areexercisable for a period of five years at a price of $1.44 per shareand will vest 1/3 immediately; 1/3 after 12 months from the date ofgrant; and 1/3 after 24 months from the date of grant and are subjectto the policies of the TSX Venture Exchange.
The Company would also like to announce that it hasretained Saffron Abbey, LLC. (“Saffron”) to provide investorrelations services to the Company in compliance with the policies andguidelines of the TSX Venture Exchange(“TSXV”) and other applicable legislation. Saffron will receivea total payment of US$40,000 over six months.
About Heliostar Metals Ltd.
Heliostar is a well-financed junior exploration anddevelopment company with a portfolio of high-grade gold projects inAlaska 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 golddeposit, located within the district-scale property that encompasses240km 2 across the two islands. Additional targets on the propertyinclude porphyry, high sulphidation and intermediate sulphidationepithermal veins. On Unga Island, priority targets include: the SH-1and Aquila, both on the Shumagin Trend, the former Apollo-Sitka mine,which was Alaska’s first underground gold mine and the Zachary Bayporphyry gold-copper prospect. Gold mineralization at the CentennialZone is located on neighbouring Popof Island within four kilometres ofinfrastructure and services at Sand Point.
In Mexico, the company owns 100% of three early stageepithermal projects in Sonora that are highly prospective for gold andsilver. Cumaro forms part of the El Picacho district, while the OsoNegro and La Lola projects are also prospective for epithermalgold-silver mineralization.
Qualified Person
The Company’s disclosure of technical or scientificinformation in this press release has been reviewed and approved byStewart Harris, P.Geo., Exploration Manager for the Company. Mr.Harris is a Qualified Person as defined under the terms of NationalInstrument 43-101.
For additional information pleasecontact:
Charles Funk
Chief Executive Officer
Heliostar Metals Limited?
Email: charles.funk@heliostarmetals.com
Neither TSX Venture Exchange nor its RegulationServices Provider (as that term is defined in the policies of the TSXVenture Exchange) accepts responsibility for the adequacy or accuracyof this release.
Forward-Looking Information. Thisrelease includes certain statements that may be deemed"forward-looking statements". Forward-looking statementsare statements that are not historical facts and are generally, butnot always, identified by the words "expects","plans", "anticipates", "believes","intends", "estimates", "projects","potential" and similar expressions, or that events orconditions "would", "may", "could" or"should" occur. Forward-looking statements in this pressrelease include Heliostar’s expectations that the transactionscontemplated in the Agreement will be approved by the TSX VentureExchange and completed. Although the Company believes theexpectations expressed in such forward-looking statements are based onreasonable assumptions, such statements are not guaranteeing of futureperformance and actual results may differ materially from those in theforward-looking statements. Factors that could cause the actualresults to differ materially from those in forward-looking statementsinclude market prices, exploitation and exploration successes, andcontinued availability of capital and financing, and general economic,market or business conditions. Investors are cautioned that any suchstatements are not guarantees of future performance and actual resultsor developments may differ materially from those projected in theforward-looking statements. Forward-looking statements are based onthe beliefs, estimates and opinions of the Company's management on thedate the statements are made. Except as required by applicablesecurities laws, the Company undertakes no obligation to update theseforward-looking statements in the event that management's beliefs,estimates or opinions, or other factors, should change.
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