Blue Star's Target Series: Axis Prospect IP Chargeability Anomaly, Untested Orientation, Drill-Ready
Blue Star's Target Series: Axis Prospect IP
Chargeability Anomaly, Untested Orientation,
Drill-Ready
Vancouver, British Columbia--(Newsfile Corp. - March 18, 2025) -
Blue Star Gold Corp. (TSXV: BAU)
(OTCQB: BAUFF) (FSE: 5WP0) ("Blue Star" or the "Company")
, a leading explorer in Canada's
North, is excited to discuss the advancement of the Axis prospect, a priority mineralized trend located
less than 300 metres from the high-grade Flood deposit on its Ulu Property, located in the West
Kitikmeot Region of Nunavut.
Axis Target Highlights
Historical high-grade target within the axial plane of the Ulu anticline - surface grades up to 35.22
g/t Au
2023 Induced Polarisation (IP) chargeability anomaly outlines an untested target orientation and
depth; the alteration model supports the IP trend
Revised structural interpretation aligns with the IP survey data
Surface mapping identifies acicular arsenopyrite and gold mineralization, along with biotite
alteration and brecciation
Potential intersection of the Central and Axis targets, creating a significant target zone
"The Axis IP target is a very compelling prospect," said Grant Ewing, CEO of Blue Star. "Located just
300 metres from the high-grade Flood deposit, this area has long been considered a high-priority
target. Our updated geological understanding of the host stratigraphy, the 2023 IP survey data, and
the new alteration model have increased our confidence that the target area could potentially host a
significant discovery."
Figure 1: NW View Cross section, +/- 200m of Axis Trend Showing Drilling, IP Data, Generalized
Geology, and Target Location
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2421/244961_1c9aa7fa04ed2bac_003full.jpg
Discussion of the Axis Prospect
The Axis target is located less than 300 metres from the high-grade Flood Zone deposit and the
associated underground development. It is part of the ACE trend (Axis, Central, and East Zones - see
Figure 2) as detailed in the Central Target Series news release dated February 19, 2025. Surface
mineralization at the Axis target consists of scattered acicular arsenopyrite and gold occurrences,
extending over a 200+ metre strike length along the axial trace of the Ulu anticline, which is oriented
NNW-SSE. Surface samples have returned grades up to 35.22 g/t Au and 21.1 g/t Au along the trend.
Alteration mapped along the Axis trend includes silicification, actinolite, biotite, pyrrhotite, and
brecciation of the volcanic host rock. A principal component analysis (PCA) identified an As-Bi-W
weighted sum alteration model, which also correlates with the Axis trend. These mineralization and
alteration styles are identical to those observed in the Flood Zone deposit.
A 2023 IP survey identified an untested area along the Axis trend at depth, with the inverted IP
chargeability data detecting the Flood Zone mineralization at the western edge of the signature. A
second untested anomaly is situated to the east, is moderately dipping, and occurs approximately 170
metres below the surface. To date, drilling has not directly evaluated this anomaly, as previous drill holes
along the Axis trend have either assessed ground too shallow or were drilled in an orientation that did not
test this chargeability feature, with drilling conducted approximately parallel to the trend. Geological
support for this IP anomaly includes Blue Star's recent interpretation of the Ulu anticline's orientation,
which is now understood to be slightly overturned, with both limbs dipping to the west and a northerly
axial plunge.
Historical Work
The Axis trend was first identified in the early 1990's by BHP, during the initial investigation of the Ulu
claims. A field program consisting of mapping, soils, and geophysics (IP, magnetics, VLF-EM)
evaluated the Ulu ground. Mapping and prospecting northeast of the Flood Zone deposit identified
mineralization along the Axis, Central, and East Zones. The Axis target became a high-priority target due
to its proximity to the Flood Zone and its structural location occurring along the inferred trace of the axial
plane of the Ulu anticline. In addition, the mineralized and gossanous trend occurred coincident with
surface IP chargeability anomalies and a distinct break in topography suggesting a major structural
feature. The Axis zone saw limited drilling from 1989 through 1996 testing near-surface mineralization to
a depth of fewer than 80 metres, with the best intercept of 9.49 g/t Au over 0.81 metres (90VD-46). Four
holes in 1996 tested surface veining along the Axis zone to a depth of 200 metres below surface but
were drilled to the SW, essentially parallel to the 2023 IP chargeability target.
Blue Star's Recent Work
Blue Star's drilling in 2021 and 2022 tested shallow targets along the Axis trend. Five holes were drilled
approximately 100 metres apart along the inferred hinge trace, but all holes were drilled too shallow to
intercept the developing Axis target. The best intercepts were in the 3 - 4 metre range grading 1.8 to 2.5
g/t Au in the shallow structures.
In addition to drilling, ongoing studies have significantly advanced Blue Star's understanding of the Ulu
Project. A recent study deciphering the Flood Zone stratigraphy using lithogeochemistry has identified a
highly prospective basalt unit referred to internally as the 'A1' basalt, a high iron, high titanium, and high
zirconium tholeiite. This A1 basalt unit hosts much of the Flood Zone mineralization, sits stratigraphically
above clastic sedimentary rocks, and is capped by the A2 basalt unit, a high iron, high titanium tholeiite
with notably lower zirconium.
Geophysical work in 2023 included a pole-dipole IP survey completed over the central portion of the
Flood Zone and Axis trend. Data was collected using 50-metre dipole spacing, along 100 metre spaced
lines, and inverted using Geosoft's VOXI 3D IP code. The modeled 3D IP data shows a chargeability
anomaly associated with the Flood Zone mineralization and a second chargeability trend that does not
surface and has yet to be drill tested (Figure 1). This chargeability anomaly occurs within both the A1 and
A2 high Fe Tholeiitic basalts, the same stratigraphy that hosts Flood Zone mineralization.
An internal study, spearheaded by ALS-Gold Spot in 2023 conducted a Principal Component Analysis
(PCA) to identify key elements relating to gold mineralization. This alteration study identified a pattern of
elevated As, Bi, and W coincident with high gold values within the Flood Zone deposit. The efficacy of an
alteration model, created by using a weighted sum calculation of these three elements is currently being
evaluated by investigating other 'altered' targets on Blue Star's ground. The Axis trend is an area
highlighted by this alteration model.
In 2024 the IP survey was expanded over the entire Ulu Fold area. A 3D inversion of this data is currently
being processed using Geosoft's VOXI 3D IP software.
Next Steps
The Axis IP target is drill-ready and will be considered for testing in the next drill campaign. One ~300-
metre hole is designed to pierce the 2023 IP chargeability anomaly and test the As-Bi-W weighted sum
alteration model along the NNW trend. An additional 1,000 metres of drilling would be contingent on
results from the initial drill hole. Blue Star will continue to investigate the 2024 IP data once the 3D
inversion is complete to enhance targeting along the trend.
Figure 2: Location of the Axis, Central, and East (ACE) Targets in Relation to the Flood Zone
Deposit and the ULU Camp
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2421/244961_1c9aa7fa04ed2bac_004full.jpg
Figure 3: Location Map of Blue Star's Land Package in Relation to the Proposed Grays Bay
Road
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2421/244961_1c9aa7fa04ed2bac_005full.jpg
Historical sampling is documented in the references and appears to follow industry standards as
accepted at the time of the work; no review of the historical sampling was completed by the Blue Star
Qualified Person. The Axis target may or may not reflect the mineralization style observed in the Flood
Zone deposit. Geophysical surveys are not definitive, and the exploration results to date are still at an
early stage of interpretation, with no guarantee of a mineral discovery.
Blue Star samples are grab samples, which are selective by definition, and were delivered under chain
of custody to ALS Geochemistry in Yellowknife, NT for sample preparation and then forwarded to ALS
Canada Inc. in North Vancouver, BC for final analysis. Samples were prepared using code PREP-31
(crushing and pulverising) and analysed using codes Au-AA26 (50-gram fire assay with atomic
absorption finish) and ME-MS61 (48 element four acid digestion with ICP-MS finish). Over limits for non-
gold elements were ore grade four acid digestion with ICP-AES finish. The QAQC program for
prospecting consists of regular insertion of certified reference materials (CRMs) resulting in a one in 20
sample insertion rate.
References
Flood, E. (1991). Ulu Claims; 1991 Geological, Geochemical and Drilling Report. DIAND
Assessment Report 083063 for BHP-Utah Mines Ltd.
Flood, E., M. Kolebaba, P. Cowley, M. St. Pierre and I. Horne. (1993). 1992 Compilation
Geological, Geochemical and Drilling Report, Ulu Claims; internal report for BHP Minerals Canada
Ltd.
Darren Lindsay, P. Geo. and Vice President Exploration for Blue Star, is a Qualified Person under
National Instrument 43-101 ("NI 43-101") and has reviewed and approved the technical information
contained in this news release.
About Blue Star Gold Corp.
Blue Star is a mineral exploration and development company focused in Nunavut, Canada. Blue Star's
landholdings total 290 square kilometres of highly prospective and underexplored mineral properties in
the High Lake Greenstone Belt. The Company owns the Ulu Gold Project, comprised of the Ulu Mining
Lease and Hood River Property, and the Roma Project. A significant high-grade gold resource exists at
the Flood Zone deposit (Ulu Mining Lease), and numerous high-potential exploration targets (gold and
critical minerals) occur throughout the Company's extensive landholdings, providing Blue Star with
excellent resource growth potential. The site of the future deep-water port at Grays Bay is 40 - 100 km to
the north of the properties, and the proposed route corridor for the all-weather Grays Bay Road passes
close by the Roma and Ulu Gold Projects.
Blue Star is listed on the TSX Venture Exchange under the symbol: BAU, the U.S. OTCQB Venture
Market under the symbol: BAUFF, and on the Frankfurt Exchange under the symbol: 5WP0. For
information on the Company and its projects, please visit our website:
www.bluestargold.ca
.
For further information, please contact:
Grant Ewing, P. Geo., CEO
Telephone: +1 778-379-1433
Email:
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
Policies of the TSX-Venture Exchange) accepts responsibility for the adequacy or accuracy of this
Release.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS AND INFORMATION
This press release contains "forward-looking statements" within the meaning of applicable securities
laws. Forward-looking statements can be identified by words such as: "anticipate," "intend," "plan,"
"goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should,"
"will" and similar references to future periods. Examples of forward-looking statements include, among
others, statements we make regarding prospective income and revenues, anticipated levels of capital
expenditures for the fiscal year, expectations of the effect on our financial condition of claims, litigation,
environmental costs, contingent liabilities, and governmental and regulatory investigations and
proceedings, and estimates of mineral resources and reserves on our properties.
Forward-looking statements are neither historical facts nor assurances of future performance. Instead,
they are based only on our current beliefs, expectations, and assumptions regarding the future of our
business, plans and strategies, projections, anticipated events and trends, the economy, and other future
conditions. Because forward-looking statements relate to the future, they are subject to inherent
uncertainties, risks, and changes in circumstances that are difficult to predict and many of which are
outside of our control. Our actual results and financial condition may differ materially from those indicated
in the forward-looking statements. Therefore, you should not rely on any of these forward-looking
statements. Important factors that could cause our actual results and financial condition to differ
materially from those indicated in the forward-looking statements include, among others, the following:
economic and financial conditions, including volatility in interest and exchange rates, commodity and
equity prices and the value of financial assets, strategic actions, including acquisitions and dispositions
and our success in integrating acquired businesses into our operations, developments and changes in
laws and regulations, including increased regulation of the mining industry through legislative action and
revised rules and standards applied by the regulatory bodies in Nunavut, changes in the price of fuel and
other key materials and disruptions in supply chains for these materials, closures or slowdowns and
changes in labour costs and labour difficulties, including stoppages affecting either our operations or our
suppliers' abilities to deliver goods and services to us, as well as natural events such as severe weather,
fires, floods and earthquakes or man-made or other disruptions of our equipment, and inaccuracies in
estimates of mineral resources and/or reserves on our mineral properties.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/244961