Heliostar Metals begins open pit mining at La Colorada mine

Heliostar Metals has commenced open pit mining at the Veta Madre pit within its La Colorada mine in Mexico. This move marks a transition from the company’s previous reliance on stockpile and injection leaching toward stacking higher-grade ore, with production from this new material expected to begin next year.

The Veta Madre pit contains approximately 48,000 ounces of gold. Recent drilling has led to the design of an expanded “Veta Madre Plus” pit, which targets an additional 20,000 ounces of gold beyond current reserves. This expansion follows the receipt of necessary soil use permits earlier this year.

CEO Charles Funk stated that this progress is a key component of the company’s strategy to secure cash flow through 2027 and 2028 to fund the construction of the Ana Paula Project, Heliostar’s flagship development asset. The company remains on track to meet its annual gold production guidance of 20,000 to 22,300 ounces.