Heliostar to restart mining at La Colorada
TSX-V-listed Heliostar Metals will restart mining operations at the La Colorada mine, in Mexico, next month, with the key initial focus being the Junkyard stockpile.
"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," said Heliostar CEO Charles Funk.
"Over recent months, the Junkyard stockpile has been a focus with 57 holes completed, a metallurgical assessment undertaken, and quotes 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 midtier gold producer.”
The Junkyard stockpile, a historic waste rock storage facility located about 800 m south-west of the La Colorada crushing circuit, holds material mined from the Gran Central pit in the mid to late 1990s. The company’s recent evaluation of the stockpile included drilling, resource modeling, and metallurgical testing. A total of 57 holes were drilled across the stockpile, totalling 2 290 m.
Heliostar plans to release a technical report in January 2025, which will incorporate results from the drilling, resource modeling, and metallurgical testing of the Junkyard Stockpile, as well as an expansion of the Creston pit. The drilling also revealed a historic tailings facility beneath the stockpile, which will undergo further metallurgical testing after the release of the technical report. Should the results prove favourable, this could present a future upside opportunity for the company.
With these initiatives in place, Heliostar is positioned to ramp up its operations at La Colorada, reinforcing its strategy of progressing towards becoming a midtier gold producer.
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