Get the Latest Investment Ideas Delivered Straight to Your Inbox. Subscribe


The Unga Project Yields More High-Grade Gold for Heliostar Metals
Contributed Opinion

Share on Stocktwits


Matt Badiali Independent financial analyst Matt Badiali looks into Heliostar Metal's recent drill results at its Alaska project.

I love field season.

Over the past fifteen years, I made it a point to get to as many projects as I can. I visited projects in New Guinea, Turkey, Haiti, Yukon Territory, Ireland, Mexico and the U.S. These days, I'm looking for quality projects to visit.

And I have my eye on one particular site right now.

It's on an island in the Aleutians in Alaska called Unga. It's the site of an old mining and fishing ghost town. It has Alaska's first underground gold mine—the Apollo. They mined off the top of the ore, which had free gold. They simply crushed the rock and the gold fell out. But when they encountered more complex ore, the miners just walked away.

It's a crazy story…and it's just a small part of the story of Unga Island. Right now, a tiny junior miner, Heliostar Metals Ltd. (HSTR:TSX.V; RGCTF:OTC), owns the Unga Project. This company is new, it formed in October 2020 from a merger. The story isn't widely known…yet.

But recent results from Unga started to get investors' attention. You can see what I mean from the chart below:

Heliostar Chart

The company just put out excellent drill results from last fall's drilling. But slow assay labs continue to plague most of the juniors right now.

On January 25h, the company announced that the results from the first two holes (of a nine-hole program) came in. And they both hit high-grade gold, as you can see below:

  • SH20-01A: 7.74 grams per tonne (g/t) gold and 27.0 g/t silver over 11.65 meters (m) from 12.95 m downhole. That includes 16.06 g/t gold and 37.7 g/t silver over 4.0 m from 12.95 m downhole.

  • SH20-02: 18.66 g/t gold and 11.5 g/t silver over 1.98 m from 50.75 m downhole.

Those are excellent intersections of high-grade gold. While those aren't the true widths, they definitely increase the existing gold resource at the SH-1 target. There's an existing high-grade Inferred resource of 384,318 ounces at 13.8 g/t gold.

And there are seven more drill holes left, sitting at the assay office.

As I said, Unga is loaded with potential. SH-1 is just one of many epithermal gold targets along the 8.4 km-long Shumagin fault corridor on Unga. Historical reports from the U.S. Geological Survey describe this area as a geologist's dream. And Heliostar's technical team think it's a text-book epithermal gold complex.

That's why I added Unga Island to my bucket list of projects to visit. If they keep up the drilling success, it will be the site of a major new high-grade gold discovery. That's what I'd really like to see.

Good Investing,

--Matt Badiali

Reach Matt Badiali at

Matt Badiali is a geologist and independent financial analyst. He spent fifteen years researching and writing about great investments inside the natural resources sectors. He can be reached at


Streetwise Reports Disclosure:
1) Matt Badiali: I, or members of my immediate household or family, own shares of the following companies mentioned in this article: Heliostar Metals. I personally am, or members of my immediate household or family are, paid by the following companies mentioned in this article: I am a consultant to Heliostar Metals. I determined which companies would be included in this article based on my research and understanding of the sector.
2) The following companies mentioned in the article are sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
3) Statements and opinions expressed are the opinions of the author and not of Streetwise Reports or its officers. The author is wholly responsible for the validity of the statements. The author was not paid by Streetwise Reports for this article. Streetwise Reports was not paid by the author to publish or syndicate this article. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.

Want to read more about Gold and Silver investment ideas?
Get Our Streetwise Reports Newsletter Free and be the first to know!

A valid email address is required to subscribe