Heliostar Samples High Grade Antimony with Gold and Commences Drilling at Goldstrike Project, Utah
Heliostar’s Goldstrike antimony drilling adds optionality while gold economics drive valuation.
Heliostar Metals Ltd. (HSTR) has released surface channel and rock chip sampling results from the Antimony Ridge and Antimony Knoll areas on its 100%-owned Goldstrike project in Utah. The company identified high-grade antimony and gold intersections, including 2.53% antimony and 0.61 g/t gold over 1.3m true width at Antimony Ridge, and 1.11% antimony over 0.6m at Antimony Knoll.
The company has commenced its first-ever antimony-focused drilling program at Goldstrike, with 852 metres in eight holes completed to date. Assay results are expected in Q4 2026. The 2026 exploration budget for Goldstrike is $2.0 million.
The antimony zones are located up to four kilometres east of the existing Goldstrike gold resource area, which contains 975,000 oz indicated at 0.46 g/t Au, suggesting a larger Carlin-style exploration footprint. This exploration update follows the $72.5 million acquisition of Goldstrike, which closed in April 2026.
Heliostar Metals Ltd. (HSTR) released an exploration update regarding the commencement of antimony sampling and drilling at its Goldstrike project. The company noted that the $2.0 million exploration budget was previously outlined in its 2026 guidance and acquisition framework. This activity adds critical mineral optionality to the portfolio but does not alter near-term gold economics, cash flow, or valuation.
Following the announcement, the market reacted with a price increase of approximately 6%, moving from $2.14 to $2.27. There is no material impact on 2026 production, costs, or the balance sheet. The core investment thesis remains anchored to the producing mines and the Ana Paula development timeline.
Heliostar Metals Ltd. (HSTR) is a producing gold and silver miner headquartered in Canada, with operations in Mexico and the USA. Its producing assets include the La Colorada mine in Sonora, Mexico, and the San Agustin mine in Durango, Mexico. Both facilities are currently generating cash flow and funding growth.
The company’s development pipeline features Ana Paula, a flagship underground project in Guerrero, Mexico, which targets 100 koz/yr production by 2028. Additionally, the Cerro del Gallo project in Guanajuato, Mexico, has a completed Preliminary Feasibility Study (PFS).
Exploration assets include Goldstrike in Utah, USA, acquired for $72.5M, as well as the San Antonio project in Baja California Sur, Mexico, and the Unga project in Alaska, USA. Heliostar’s strategic ambition is to become a mid-tier producer targeting more than 500,000 oz Au/year by 2030, funded primarily by operating cash flow.