Heliostar sees about a year of added San Agustin mine life defined, with targets for a second
Published · Ore Please
Heliostar told Ore Please the new East Wall and Corner Extension zones look like the ore it mines now; a mine plan and permit changes come next.
“We think we've defined about another year of mine life beyond the current reserves, with exploration targets that could extend that by a further year.”
- The growth: the Corner Extension and new East Wall zones (best today: 100.6 m @ 0.42 g/t AuEq from surface at East Wall) are “very similar” in grade, thickness and depth to the Corner Reserve now being mined at about a $2,000/oz all-in sustaining cost, Grey said. CEO Charles Funk said in the release the two zones could supply half of a targeted two years of added mine life.
- Context: San Agustin restarted in December 2025 on a 68,000 oz probable reserve (7.36 Mt @ 0.29 g/t Au), a 14-month mine life in the 2025 technical study. 2026 site guidance is 30,000–32,700 oz at $2,150–2,250/oz AISC.
- Next: finish the mine plan and permit modifications for Corner Extension and East Wall, aiming to move straight into them once current reserves are mined; the drill program, doubled to 25,000–30,000 m, keeps testing oxide targets around the pit. No major hurdles, Grey said: technical and permitting work for these zones is “fairly straightforward.”
AuEq is the company's gold-equivalent figure (gold plus silver at its price and recovery assumptions); true widths are unknown. Heliostar also mines La Colorada in Sonora.
Sources: Emailed comment from Rob Grey, Heliostar investor relations, to Ore Please, Nov 9 · Heliostar release, Nov 9 · Heliostar 2026 guidance, Jan 13 · The Northern Miner: Heliostar pours first gold from San Agustin
Comments are from the company in reply to an Ore Please request for comment, lightly condensed; quoted words are verbatim. Drill figures as reported by the company. Not investment advice. Today’s drill hits ›