TSX.V: HSTR | OTCQX: HSTXF | heliostarmetals.com | |
SPEED, GRADE AND GROWTH
Developing the High-Grade Ana Paula Gold Deposit
The Gold Forum Americas Presentation
CAUTIONARY STATEMENT
This presentation contains certain statements that may be deemed "forward-looking statements". All statements in this presentation, other than statements of historical fact, that address future operations, resource potential, exploration drilling, exploitation activities and events or developments that the Company expects to occur, are forward looking statements.
Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans" "anticipates", "believes", "intends", "estimates", "projects", "potential", "NPV targets" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Information inferred from the interpretation of drilling results and information concerning mineral resource estimates may also be deemed to be forward looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed.
Although the Company believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions.
Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. The Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change, except as may be required by applicable law.
The Company's disclosure of technical or scientific information in this presentation has been reviewed and approved by Sam Anderson, CPG, Vice President Projects and Stewart Harris, P.Geo., Exploration Manager for the Company. Mr. Anderson and Mr. Harris are Qualified Persons as defined under the terms of National Instrument 43-101.
TSX.V: HSTR | OTCQX: HSTXF | heliostarmetals.com | |
PORTFOLIO
ANA
PAULA
THE KEY ASSET
- Heliostar owns the Ana Paula Gold Deposit in Mexico
- 1.4Moz of gold (M&I) at 2.16 g/t gold
- PFS completed in 2023 with post tax 30.5% IRR and US$278.6M NPV at US$1,600 per ounce gold price1
- Permitted for an Open Pit Mine
- Previous operators have spent in excess of $US75M on the project
SAN
ANTONIO
UNGA
TIER ONE CALL OPTION
- Heliostar has an option on the San Antonio Gold Deposit in Mexico
- 1.7Moz of gold (M&I) at 0.83 g/t gold2
GROWTH ASSET
- Unga is a high quality growth project in Alaska
- 0.4Moz of gold (Inferred) at 13.8 g/t gold3
TSX.V: HSTR | OTCQX: HSTXF
1: Ana Paula Project NI 43-101 Preliminary Feasibility Study Update for Heliostar Metals. dated February 28, 2023 | heliostarmetals.com | 3 | |
2: NI 43-101 Technical Report on Resources, San Antonio Project for Argonaut Gold Inc. dated October 10, 2012 | |||
3. Amended and Restated NI 43-101 Technical Report & Resource Estimate for the SH-1 Gold & Silver Deposit dated November 24, 2020. |
CAPITALIZATION
$40M
Market Capitalization
249 M
Fully diluted shares
*Raising $27.7M
167M
Shares Outstanding on Issue
67.5 M Warrants
$5.5M
Cash Balance
14.4 M
Options and RSUs
SHARE STRUCTURE | 50% Institutional |
45% HNW & Retail
5%
Board & Management
TRADING | ANALYST | |||
SYMBOLS | ||||
COVERAGE | ||||
TSX.V: HSTR | OTCQX: HSTXF | Mike Niehuser | ||
TSX.V: HSTR | OTCQX: HSTXF | heliostarmetals.com | 4 | |
LOCATION
Location:
Guerrero State, Mexico
Located 20km NW of Torex Gold's operating Morelos Complex Mine (440-470koz gold production guidance in 2023)
Located 30km NW of Equinox Gold's Los Filos Mine (160-180koz gold production guidance in 2023)
Infrastructure:
Excellent road access Power connected to site
115 kV power line for plant located 2.5km from permitted location.
6 km from closest town of Cuetzala del Progreso
215 km to the Port of Acapulco
100% ownership of surface rights for mine
LA PAZ
SAN ANTONIO
HELIOSTAR METALS
ANA PAULA | IGUALA |
HELIOSTAR METALS | MORELOS |
TOREX GOLD |
LOS FILOS
EQUINOX GOLD
CHILPANCINGO
ACAPULCO
MEXICO CITY
TSX.V: HSTR | OTCQX: HSTXF | heliostarmetals.com | 5 | |
SITE LAYOUT
TOREX GOLD
Morelos Complex
ANA PAULA
Portal Location
ANA PAULA
Deposit Location
ANA PAULA | ANA PAULA | ANA PAULA | ||||||
54 Man Camp | Core Processing Facility | Entrance to Underground Portal (412m Long) | ||||||
TSX.V: HSTR | OTCQX: HSTXF | heliostarmetals.com | 6 | |
A RAPID PATH TO PRODUCTION
OUR VISION
- Change the Ana Paula mine plan from an open pit to a high grade, underground gold mine
- Deliver re-scoping milestones in 2023 (drilling results, mine sequencing, metallurgy and resource upgrade)
- Targeting a materially improved NPV and IRR
- Targeting a lower construction CAPEX
- Reach construction decision in 18 months and commercial production in 3 years
- Unlock a three-stage growth pipeline
- Target expansion of the core High-Grade Panel
- Target growth of the overall Ana Paula Deposit
- Explore the entire 52,047 Hectare claim package to define full extent of Ana Paula's potential
TSX.V: HSTR | OTCQX: HSTXF | heliostarmetals.com | 7 | |
2023 RE-SCOPE
Three simple steps targeting increased mine economics
Reserve Growth
Drill program to expand and infill the High-Grade Panel
- Drilling commenced in April, 2023
- Results continuing from May through to September
- 3,216 metre program completed to drive resource update
- Targeting growth of the High Grade Panel up and down plunge
- Potential to increase grade within the High Grade Panel
Bring High-Grade Forward
Complete an underground mine sequence
- No mining sequence has previously been completed at Ana Paula
- Choosing a selective underground mining technique has the potential to bring high grade ounces forward in the mine plan
- Geotechnical program commenced to define maximum mining stope shapes
- Utilize existing decline at Ana Paula
Improve Metallurgy
Optimize met work for a conventional milling circuit
- Open pit PFS focused on low grade material
- Opportunity to improve recoveries within the High Grade Panel
- New metallurgical material being collected in current drilling program
- Optimization focus on gravity recovery and inclusion of a conventional regrind circuit
TSX.V: HSTR | OTCQX: HSTXF | heliostarmetals.com | 8 | |
2023 PROGRESS
Heliostar Drills
53.2 m Grading
11.0 g/t gold
and 44.5 m
Grading 11.0
g/t gold at Ana
Paula Project,
Mexico
Heliostar Drills
46.0 m Grading
13.4 g/t gold within 129.2m Grading 6.0 g/t gold at Ana Paula, Mexico
Heliostar
Intersects 242 m
Grading 9.06 g/t gold - The Longest and Highest-GradeDrill Hole in the History of the
Ana Paula
project in Mexico
Heliostar Drills
31.8 g/t Gold
over 9.5 m
within 8.0 g/t gold over 72.0 m in Up-PlungeTarget at the Ana Paula Project
Heliostar Drills
33 m Grading
16.4 g/t gold
and 9.5 m
Grading 25.6
g/t gold,
Expands High
Grade Panel at
Ana Paula
March | April | May | June | July | August | Sept | Oct | Nov |
Closed C$20.4M | Announce | Upsized C$7M | New Growth | Met Work | Resource |
Financing and | Re-Scope | Financing | Targets | Results | Update |
Transaction |
TSX.V: HSTR | OTCQX: HSTXF | heliostarmetals.com | 9 | |
ANA PAULA - Reserves and Resources
Significant drill hits include; | |||||||||||||||||||||||||||||||||
231m @ 7.5g/t gold, | |||||||||||||||||||||||||||||||||
120.8m @ 11.0g/t gold | |||||||||||||||||||||||||||||||||
High Grade Panel | |||||||||||||||||||||||||||||||||
~280m x 100m x 60m | |||||||||||||||||||||||||||||||||
Table 1-4: Proven and Probable Reserve - Ana Paula2 | |||||||||||||||||||||||||||||||||
Decline - | |||||||||||||||||||||||||||||||||
Category | Tonnes (kt) | Gold Grade (g/t) | Gold | Silver Grade (g/t) | Silver (ounces) | ||||||||||||||||||||||||||||
currently 412m long | (ounces) | ||||||||||||||||||||||||||||||||
Proven | 7,126 | 2.75 | 630,000 | 5.77 | 1,322,000 | ||||||||||||||||||||||||||||
Probable | 6,996 | 2.00 | 451,000 | 5.45 | 1,226,000 | ||||||||||||||||||||||||||||
Total | 14,122 | 2.38 | 1,081,000 | 5.61 | 2,547,000 | ||||||||||||||||||||||||||||
LEGEND | |||||||||||||||||||||||||||||||||
Table 1-3: Ana Paula Resource Statement Effective December 30, 2020 | |||||||||||||||||||||||||||||||||
Gold Grades g/t | |||||||||||||||||||||||||||||||||
Area | Category | Cut-off | Tonnes | Au (g/t) | Gold (ounces) | Ag (g/t) | Silver (ounces) | ||||||||||||||||||||||||||
>2.5 | (Au g/t) | ||||||||||||||||||||||||||||||||
Measured | 9.095,000 | 2.39 | 698,000 | 5.6 | 1,629,000 | ||||||||||||||||||||||||||||
>0.3g/t | Resources | Indicated | 9,810,000 | 1.79 | 563,000 | 5.3 | 1,677,000 | ||||||||||||||||||||||||||
amenable to open | 0.6 | ||||||||||||||||||||||||||||||||
Measured & | |||||||||||||||||||||||||||||||||
pit extraction | 18,905,000 | 2.07 | 1,261,000 | 5.4 | 3,306,000 | ||||||||||||||||||||||||||||
Expansion Zone | Resource Model | Indicated | |||||||||||||||||||||||||||||||
Inferred* | 63,000 | 0.86 | 2,000 | 10.5 | 21,000 | ||||||||||||||||||||||||||||
clipped to show | |||||||||||||||||||||||||||||||||
Measured | 85,000 | 2.15 | 5,800 | 2.8 | 8,000 | ||||||||||||||||||||||||||||
only blocks greater | |||||||||||||||||||||||||||||||||
Resources | |||||||||||||||||||||||||||||||||
than 1g/t gold | Indicated | 1.65 | 2,212,000 | 2.84 | 202,000 | 4.0 | 286,000 | ||||||||||||||||||||||||||
amenable to | |||||||||||||||||||||||||||||||||
underground | |||||||||||||||||||||||||||||||||
Measured & | 2,297,000 | 2.81 | 207,800 | 4.0 | 294,000 | ||||||||||||||||||||||||||||
extraction | Indicated | ||||||||||||||||||||||||||||||||
Drill Hole | Inferred* | 322,000 | 2.09 | 21,700 | 4.2 | 43,000 | |||||||||||||||||||||||||||
Measured | OP | 9,180,000 | 2.09 | 703,800 | 5.5 | 1,637,000 | |||||||||||||||||||||||||||
ANA PAULA | |||||||||||||||||||||||||||||||||
400m | Indicated | 12,022,000 | 2.38 | 765,000 | 5.1 | 1,963,000 | |||||||||||||||||||||||||||
1.65 | |||||||||||||||||||||||||||||||||
0.6 | |||||||||||||||||||||||||||||||||
Total Resources | and | ||||||||||||||||||||||||||||||||
Measured & | UG | 21,202,000 | 2.16 | 1,468,800 | 5.3 | 3,600,000 | |||||||||||||||||||||||||||
Indicated | |||||||||||||||||||||||||||||||||
RESERVE AND RESOURCE | Inferred* | 385,000 | 1.89 | 23,700 | 5.2 | 64,000 | |||||||||||||||||||||||||||
Section looking North | |||||||||||||||||||||||||||||||||
M&I resources are inclusive of P&P resources | |||||||||||||||||||||||||||||||||
TSX.V: HSTR | OTCQX: HSTXF | See Appendix for additional details on resource estimation and economic assumptions | heliostarmetals.com | 10 | ||||||||||||||||||||||||||||||
1 - Tables from Ana Paula Project NI 43-101 Preliminary Feasibility Study Update for Heliostar Metals. with effective date February 28, 2023 | |||||||||||||||||||||||||||||||||
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Heliostar Metals Ltd. published this content on 23 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 October 2023 09:13:08 UTC.