Heliostar Metals Announces Updated Mineral Resource Estimate for the Ana Paula Project, Mexico
Highlights of the Mineral Resource Estimate:
Total measured and indicated mineral resources of 710,920 gold ounces grading 6.60 g/t gold
Total inferred mineral resources of 447,512 gold ounces grading 4.24 g/t gold
Mineral resource estimation cutoff grade of 2.5g/t gold. Increased from previous estimate
A connected zone of greater than 200,000 gold ounces grading greater than 10 g/t gold within the measured resource in the High Grade Panel that can be targeted in the initial years of mining
58% increase in measured and 30% increase in indicated gold grade relative to the previous resource estimate at same 2.5 g/t cutoff grades
Key Statistics:
Tighter spaced drilling has led to resource grade growth which is a positive indication for additional grade increases during conversion of the inferred resources to higher classifications
Increase in Inferred ounces is due to stricter estimation with a view to underground mining
The High Grade Panel at core of the resource is 280m long, 100m high and 60m thick
All-in discovery cost of US$16 per new gold ounce, inclusive of all exploration and project costs
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