Heliostar Metals Acquires Liberty Gold’s Goldstrike Project for $70 Million, Utah
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Heliostar Metals has completed the acquisition of a 100 percent interest in the Goldstrike Project located in Utah from Liberty Gold Corp. Initial consideration consists of $10 million in cash plus 1,593,213 shares of the company, with additional staged payments totaling $60 million over the next five years.
The Goldstrike Project is located in the Bull Valley Mountains in Washington County, approximately 50 kilometers northwest of St. George in southwestern Utah. The property is made up of a central block of patented claims that are surrounded by a contiguous block of unpatented claims and land leased from the Utah School and Institutional Trust Lands Administration. The property area totals 5,173 ha.
Heliostar Metals is a growing gold producer with a goal to produce 500,000 ounces per year by the end of the decade. The cash flow from the company’s La Colorada Mine in Sonora and the San Agustin Mine in Durango supports the development of its 100 percent owned pipeline of growth projects in Mexico and the USA. These include the flagship Ana Paula development project in Guerrero, the Cerro del Gallo project in Guanajuato, the San Antonio project in Baja Sur, the Goldstrike project in Utah and the Unga project in Alaska.
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