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Mexico
Ana Paula Project

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 Location:
11 km SE from Apaxtla de Castrejon, Guerrero, Mexico

  Project Contacts:
1090 West Georgia Street, Suite 700
Vancouver
British Columbia, Canada
V6E 3V7
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  • Overview
  • Owners
  • Geology
  • Mining
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  • Production
  • Reserves
  • Costs & Financials
  • Fleet
  • Personnel
  • Filings & News

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Overview

StagePermitting
Mine TypeOpen Pit
Commodities
  • Gold
  • Silver
Mining Method
  • Truck & Shovel / Loader
Mine Life8 years (as of Jan 1, 2023)
The Ana Paula Gold Project is an advanced-stage, gold development project.

The Heliostar acquired Aurea Mining and started re-scoping the Ana Paula Project gold deposit. The re-scoping will be focused on the High-Grade Panel at the core of the Ana Paula Deposit and is anticipated to be completed over the next six months with an updated resource late in 2023. On April 19, 2023, drilling commenced at the Ana Paula Deposit in Mexico following the rescoping plans.

The Feasibility Stady expected to begin late 2023 with competition approximately November 2024.
Latest NewsHeliostar Metals Announces Updated Mineral Resource Estimate for the Ana Paula Project, Mexico     November 27, 2023


Owners

Source: p. 1
CompanyInterestOwnership
Heliostar Metals Limited 100 % Indirect
On December 5, 2022, Heliostar entered into a share purchase agreement, as amended with Argonaut for the sale of all of the issued and outstanding shares of Aurea Mining Inc., a wholly-owned subsidiary of Argonaut, which through Aurea Mining’s wholly-owned subsidiary Minera Aurea S.A. de C.V., holds a 100% indirect interest in and to Ana Paula.

On March 28, 2023, Heliostar Metals Limited closed its transaction with Argonaut Gold Inc. in which it acquired, indirectly, the Ana Paula Gold Project. Heliostar now holds a 100% interest in the Ana Paula Gold deposit in Mexico.

Contractors

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Deposit Type

  • Porphyry
  • Skarn
  • Breccia pipe / Stockwork


Summary:

Mineralization
At least two, and possibly three, mineralizing events are observed at the scale of the property, but the relationships and timing of these events is not currently known.

Mineral Deposition
In general, four gold depositional sites are recognized at Ana Paula (Gibson, 2012):
1. Quartz-sulphide and quartz-carbonate-sulphide veinlets, stockworks with sulphide clots and disseminations in both intrusions and hornfels.
2. Narrow semi-massive sulphide contact replacement of limestone or hornfels/skarn at the intrusion contacts.
3. Sulphide clots, rims and masses in narrow contact breccias hosted in intrusions at or near the sedimentary contacts and/or fault contacts.
4. Mineralization associated with a sulphide constituent within breccia matrix and with sulphide replacement textures within structurally controlled breccia formed oblique to the dominant northerly trending westerly dipping stratigraphy.

Mineralization at Ana Paula occurred during at least two different events or stages. The first event is characterized by gold-arsenic-(bismuth-tellurium), (or Au-As-(Bi-Te)), where mineralization is associated with intermediate intrusions emplaced into limestone. The second event locally cuts the first and is characterized by gold-silver-lead-zinc-mercuryantimony (or “Au-Ag-Pb-Zn-Hg-Sb”), containing locally zoned coarse sphalerite. There are also various quartz-calcite veins with epithermal textures, but the relative t ........


Mining Methods

  • Truck & Shovel / Loader


Summary:

The Ana Paula Project will be mined by open pit methods with a contractor using conventional truck and loader production equipment. A mill feed of approximately 5,000 t/d is planned over an approximate 8-year mine life. There will be pre-strip material in Year -1, with a full production rampup in Year 1.

Three pit phases were designed for Ana Paula. Due to the topography present at the project site, access to each of the phases was considered crucial and was incorporated into the designs. Slopes for the pit design were based on Knight Piésold recommendations. They have safety benches of 8.1 m in width every 18 m vertically with an 80 degree bench face angle. This provides for a 58 degree inter-ramp angle in all sectors of the pit.

Equipment sizing for ramps and working benches is based on the use of 63 t rigid frame trucks although the final contractor will use 56-tonne trucks. Single lane access is 17.8 m (2 x operating width plus berm and ditch) and double lane widths are 23.5 m (3 x operating width plus berm and ditch). Ramp gradients are 10% in the pit for uphill gradients and 8% uphill on the dump access roads. Working benches are designed for 35 to 40 m minimum on push backs.

During the mine life, two stockpiles will be required to manage the mill throughput. One will be a temporary location on the Valley WSF to be used in Year 1. The second will be located adjacent to the primary crusher for use as required during the mine life.


Crushing and Grinding
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Processing

Flow Sheet: Subscription required

Summary:

- subscription is required.


Projected Production:

CommodityUnitsAvg. AnnualLOM
Gold koz 115919
Silver koz  ......  Subscription required  ......  Subscription required
Gold Equivalent oz  ......  Subscription required
All production numbers are expressed as metal in doré.

Operational Metrics:

Metrics
Daily ore mining rate  ......  Subscription required
Daily mining rate  ......  Subscription required
Daily processing capacity  ......  Subscription required
Annual processing capacity  ......  Subscription required
Stripping / waste ratio  ......  Subscription required
Waste tonnes, LOM  ......  Subscription required
Ore tonnes mined, LOM  ......  Subscription required
Total tonnes mined, LOM  ......  Subscription required
Tonnes milled, LOM  ......  Subscription required
* According to 2023 study.
Subscription required - Subscription is required.

Reserves at February 1, 2023:
The Mineral Reserves cut-off grade was 0.67 g/t Au for all pit areas.

The Mineral Resources is stated at $1,400/oz gold using a gold cut-off of 0.60 g/t gold for Open Pit and 1.60 for Underground. The Mineral Resources has an effective date of December 30, 2020.

CategoryOreTypeTonnage CommodityGradeContained Metal
Proven In-Situ (OP) 7,126 kt Gold 2.75 g/t 630,000 oz
Proven In-Situ (OP) 7,126 kt Silver 5.77 g/t 1,322,000 oz
Probable In-Situ (OP) 6,996 kt Gold 2 g/t 451,000 oz
Probable In-Situ (OP) 6,996 kt Silver 5.45 g/t 1,226,000 oz
Proven & Probable In-Situ (OP) 14,122 kt Gold 2.38 g/t 1,081,000 oz
Proven & Probable In-Situ (OP) 14,122 kt Silver 5.61 g/t 2,547,000 oz
Measured & Indicated In-Situ (OP) 18,905,000 t Gold 2.07 g/t 1,261,000 oz
Measured & Indicated In-Situ (UG) 2,297,000 t Gold 2.81 g/t 207,800 oz
Measured & Indicated Total 21,202,000 t Gold 2.16 g/t 1,468,800 oz
Measured & Indicated In-Situ (OP) 18,905,000 t Silver 5.4 g/t 3,306,000 oz
Measured & Indicated In-Situ (UG) 2,297,000 t Silver 4 g/t 294,000 oz
Measured & Indicated Total 21,202,000 t Silver 5.3 g/t 3,600,000 oz
Inferred In-Situ (OP) 63,000 t Gold 0.86 g/t 2,000 oz
Inferred In-Situ (UG) 322,000 t Gold 2.09 g/t 21,700 oz
Inferred Total 385,000 t Gold 1.89 g/t 23,700 oz
Inferred In-Situ (OP) 63,000 t Silver 10.5 g/t 21,000 oz
Inferred In-Situ (UG) 322,000 t Silver 4.2 g/t 43,000 oz
Inferred Total 385,000 t Silver 5.2 g/t 64,000 oz

Commodity Production Costs:

CommodityUnitsAverage
Total cash costs Gold USD  ......  Subscription required
All-in sustaining costs (AISC) Gold USD  ......  Subscription required
Assumed price Silver USD  ......  Subscription required
Assumed price Gold USD  ......  Subscription required
* According to 2023 study / presentation.
† Net of By-Product.
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2023 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Initial CapEx $M USD  ......  Subscription required
Sustaining CapEx $M USD  ......  Subscription required
Total CapEx $M USD  ......  Subscription required
OP OpEx $M USD  ......  Subscription required
Processing OpEx $M USD 296.8
Refining and treatment costs $M USD  ......  Subscription required
G&A costs $M USD 34.4
Total OpEx $M USD  ......  Subscription required
Income Taxes $M USD  ......  Subscription required
Total Taxes $M USD  ......  Subscription required
Royalty payments $M USD  ......  Subscription required
Gross revenue (LOM) $M USD  ......  Subscription required
Operating margin (LOM) $M USD  ......  Subscription required
EBITDA (LOM) $M USD  ......  Subscription required
Pre-tax Cash Flow (LOM) $M USD  ......  Subscription required
After-tax Cash Flow (LOM) $M USD  ......  Subscription required
Pre-tax NPV @ 5% $M USD  ......  Subscription required
After-tax NPV @ 5% $M USD  ......  Subscription required
Pre-tax IRR, %  ......  Subscription required
After-tax IRR, %  ......  Subscription required
Pre-tax payback period, years  ......  Subscription required
After-tax payback period, years  ......  Subscription required
Subscription required - Subscription is required.

Pipelines and Water Supply
Source: Subscription required

- subscription is required.


Proposed Heavy Mobile Equipment as of February 28, 2023:
HME TypeModelSizeQuantityLeased or
Contractor
Crane 6 t ....................... Subscription required Leased
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....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
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....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
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....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
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Subscription required - Subscription is required.

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Sep 30, 2023
....................... Subscription required ....................... Subscription required Subscription required Feb 28, 2023
....................... Subscription required ....................... Subscription required Subscription required Feb 28, 2023
....................... Subscription required ....................... Subscription required Subscription required Feb 28, 2023
....................... Subscription required ....................... Subscription required Subscription required Sep 30, 2023
Subscription required - Subscription is required.

Staff:

EmployeesContractorsTotal WorkforceYear
Subscription required Subscription required Subscription required 2023

Corporate Filings & Presentations:

DocumentYear
Corporate Presentation 2023
Management Discussion & Analysis 2023
Pre-Feasibility Study Report 2023
Press Release 2023
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2019
Annual Information Form 2018
Corporate Presentation 2018
Financial Review 2018
Pre-Feasibility Study Report 2017
Press Release 2017
Preliminary Economic Assessment 2016
Subscription required - Subscription is required.

News:

NewsDate
Heliostar Metals Announces Updated Mineral Resource Estimate for the Ana Paula Project, Mexico November 27, 2023
Heliostar's New Parallel Panel Yields 16m Grading 11.2 g/t Gold within 147m Grading 4.1 g/t Gold at Ana Paula Project November 8, 2023

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