Heliostar snaps up Utah's historic Goldstrike gold mine for $72.5M

A bold $72.5M bet on Utah's gold-rich past could redefine Heliostar's future. The Bull Valley Mountains hide untapped potential—and this deal unlocks it.

, and Administrator

2026 March 23 . 7:02 PM

1 min read

The image shows a large rock formation in the middle of a desert, surrounded by trees and hills. At... — The image shows a large rock formation in the middle of a desert, surrounded by trees and hills. At the bottom of the image, there is text that reads "Canyonlands National Park, Utah".

Heliostar snaps up Utah's historic Goldstrike gold mine for $72.5M

Heliostar Metals Ltd. has agreed to buy the Goldstrike project in Utah for US$72.5 million. The deal will give the company full ownership of a historic gold mining area in the Bull Valley Mountains. Heliostar aims to expand its production as it works toward becoming a mid-tier gold miner by 2030.

The Goldstrike project sits in southwestern Utah, about 50 kilometres northwest of St. George. Covering 5,173 hectares, the site has a long mining history, with over 20 past gold discoveries in the area. Among them, the original Goldstrike Mine produced roughly 10,000 ounces of gold in the 1930s and 1940s. Other nearby mines, like the Cumberland and Bull Moose, also yielded smaller but notable amounts in the early 20th century.

Heliostar will acquire the project through its subsidiary, Helio Five Resources Ltd. The total price of US$72.5 million includes a mix of cash and company shares, payable over up to five years. The deal still needs regulatory and stock exchange approvals but is expected to close within 30 days. The purchase adds to Heliostar's existing operations, which include the La Colorada and San Agustin mines in Mexico. With active production and a pipeline of development projects across Mexico and the USA, the company is pushing to reach 500,000 ounces of annual gold output by the end of the decade.

Once finalised, the Goldstrike acquisition will strengthen Heliostar's position in the US mining sector. The project's historic production and large land package provide a foundation for future exploration. The company continues to build its portfolio as it targets mid-tier gold producer status.