Heliostar Metals reports record production and begins Utah drilling

Heliostar Metals has reported record second-quarter gold production, with output increasing 26% quarter-over-quarter to 14,803 ounces. The company achieved $56.5 million in revenue and $31.1 million in mine operating earnings, resulting in a cash position of $43.0 million. These results are supported by steady-state production at the San Agustin mine and ongoing cash generation from the La Colorada mine.

The company is utilizing this financial strength to advance its flagship Ana Paula project, targeting a feasibility study completion in Q2 2027 and first gold production before the end of 2028.

Simultaneously, Heliostar has launched a 1,500m reverse circulation drilling program at the Goldstrike Project in Utah, USA. This program aims to test the property’s gold and antimony potential, specifically targeting the Antimony Ridge and Antimony Knoll prospects. Initial sampling at Antimony Ridge yielded results including 1.3m at 2.53% antimony and 0.61 grams per tonne gold. CEO Charles Funk noted that the project contains critical mineral potential that could enhance its economic profile beyond its existing 975,000-ounce indicated gold resource.