# Stonegate Capital Partners Updates Coverage on Heliostar Metals Ltd \(HSTR\) 3Q26

Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/stonegate-capital-partners-updates-coverage-on-heliostar-metals-ltd-hstr-3q26--1d4bf590-1222-41cd-aa0c-150347b8d3a6

Original source: https://money.tmx.com/en/quote/HSTR/news/5639261972441020/stonegate-capital-partners-updates-coverage-on-heliostar-metals-ltd-hstr-3q26

Publisher: tmx

Original announcement: 2026-03-26T13:42:00.000Z

Analysis by Minestarters Atlas

Atlas analysis published: Unknown date

Atlas analysis updated: Unknown date

- Company: Heliostar Metals Ltd

- Ticker: HSTR

- Exchange: TSX

- Region: Guerrero

- Primary commodity: Gold

- Secondary commodities: None reported

- Document categories: Drill results, Other

- Extracted: 2026-09-12 07:02:01 UTC

Narrative sentiment: 0.80 · Bullish

## Minestarters Atlas summary

Stonegate Capital Partners updated its coverage on Heliostar Metals, highlighting the Ana Paula project's high-grade expansion results \(up to 19.99 g/t gold\) and strong PEA economics. The company is targeting first production in 2H28 and plans to fund a $27M exploration program through mine cash flow.

Reasoning: The announcement highlights strong high-grade drill results at the Ana Paula project alongside robust economic metrics from a recent PEA and a clear path to production.

- Positive factor: High-grade expansion zone intercepts

- Positive factor: Strong project economics \(NPV5/IRR\)

- Positive factor: Self-funded exploration program

- Positive factor: Multi-asset growth optionality

Facts used in scoring: 2

## Classification and evidence

**Bonanza Intercept**

Polarity: positive

Definition: Exceptionally high-grade zone, well above the deposit-type norm.

Why it applies: 19.99 g/t gold is exceptionally high grade for an epithermal system.

Evidence · text

> 8.30m at 19.99 g/t

## Extracted facts

Stored fact records: 2. Some facts used in scoring do not have a stored record.

## Drill Results (2)

### Fact 1

[Link to this fact](https://atlas-extractions.minestarters.com/news/stonegate-capital-partners-updates-coverage-on-heliostar-metals-ltd-hstr-3q26--1d4bf590-1222-41cd-aa0c-150347b8d3a6#fact-drill-facts-0)

Ana Paula · gold

Needs review: drill\_no\_hole\_id

#### Identity

- Project: Ana Paula
- Commodity: gold
- Region: guerrero
- Reported Region: guerrero
- Ticker: HSTR

#### Geometry

- Grade: 8.26
- Grade Unit: g/t
- Intercept: 25.45 m

#### Classification

- Deposit Type: epithermal
- Program: resource
- Sample Type: drill
- Mining Method: underground

#### Location

- Location: Expansion Zone
- Loc. Source: document

#### Review

- Needs Review: Yes
- Review Reason: drill\_no\_hole\_id
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-03-26T00:00:00.000Z

Reasoning: 8.26 g/t gold over 25.45m is a strong intercept for an epithermal system.

- Positive factor: Strong grade for epithermal deposit

Evidence · text

> Expansion Zone results of 25.45m at 8.26 g/t gold

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Infill Drilling**

Polarity: neutral

Definition: Confirmatory drilling to raise resource confidence, not new discovery.

Why it applies: drill\_program\_type is "resource"

### Fact 2

[Link to this fact](https://atlas-extractions.minestarters.com/news/stonegate-capital-partners-updates-coverage-on-heliostar-metals-ltd-hstr-3q26--1d4bf590-1222-41cd-aa0c-150347b8d3a6#fact-drill-facts-1)

Ana Paula · gold

Needs review: drill\_no\_hole\_id

#### Identity

- Project: Ana Paula
- Commodity: gold
- Region: guerrero
- Reported Region: guerrero
- Ticker: HSTR

#### Geometry

- Grade: 19.99
- Grade Unit: g/t
- Intercept: 8.3 m

#### Classification

- Deposit Type: epithermal
- Program: resource
- Sample Type: drill
- Mining Method: underground

#### Location

- Location: Expansion Zone
- Loc. Source: document

#### Review

- Needs Review: Yes
- Review Reason: drill\_no\_hole\_id
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-03-26T00:00:00.000Z

Reasoning: 19.99 g/t gold is an exceptionally high-grade intercept.

- Positive factor: Bonanza grade intercept

Evidence · text

> including 8.30m at 19.99 g/t

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Infill Drilling**

Polarity: neutral

Definition: Confirmatory drilling to raise resource confidence, not new discovery.

Why it applies: drill\_program\_type is "resource"

## How Atlas produces this analysis

Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.