Blue Star Announces Exploration Results, Advances Pipeline Showings
Blue Star Announces Exploration Results,
Advances Pipeline Showings
Vancouver, British Columbia--(Newsfile Corp. - August 21, 2024) -
Blue Star Gold Corp. (TSXV: BAU)
(OTCQB: BAUFF) (FSE: 5WP0) ("Blue Star" or the "Company")
provides an update on the 2024
exploration program at its Ulu Gold Project and Roma Project in the Kitikmeot region of Nunavut (Figure
1). Approximately 4,000 metres of drilling have been completed with initial assays expected in the
coming weeks. Sample results from the early season field-based prospecting program are presented
below.
Highlights
16 diamond drill holes for ~4,000 metres across five main target areas have been completed,
including:
HI, Mikigon, Penthouse, Gnu Zone (Nutaaq), and the Flood Zone
Assays pending
Pipeline showing evaluation results from Cygnet (Roma) returned strong gold values including 13.5
grams per tonne gold ("g/t Au") and 56.5 g/t Au
Sampling at Gabbro Breccia (Ulu Gold Project) returned 16.0 g/t Au and 8.49 g/t Au
Roma Main zone extended another 300 metres to the southeast to over 800 metres of strike length
Pipeline showings along Snofield Lake (Roma) returned 6.21 g/t Au, 3.67 g/t Au, 497 g/t silver and
5.3% lead
Highlights of the Prospecting Program
A review of the
Cygnet Target
(Roma Project) focussed on the NE geological trend where inferred
cross structures from geophysical interpretation complicated the geology. The best samples occurred
within the mafic volcanic rock package immediately below the contact with sedimentary rock units; small
volume intrusions may play a role in the mineralisation in this area. Of the 38 samples collected two
samples were > 10 g/t Au, five samples > 5 g/t Au, and seven samples were > 1 g/t Au. The next steps
for this target will include more detailed mapping and sampling along the trend to potentially advance to
drill-ready status.
Prospecting along the
Roma Main Target
(Roma Project) extended the known mineralised trend 300
metres to the southeast. Highlights of the sampling program from parallel vein structures to the main
zone returned 40.9 g/t Au, 15.7 g/t Au, and 6.5 g/t Au. Roma Main is now a high-priority target for drill
testing in future programs.
An initial review of the
Snofield Lake Target
included collecting 14 samples over a 5.5-kilometre trend.
Highlights of the sampling program include 4.87% zinc ("Zn") and 8.6 g/t silver ("Ag"); 2.46 g/t Au, 67.7
g/t Ag, 3.1 % lead ("Pb"), 3.5 % Zn; and 3.67 g/t Au, 497 g/t Ag, 5.3 % Pb. The best gold sample
returned 6.21 g/t Au.
A reconnaissance traverse near the
Roma Fold Target
returned a sample grading 5.6 g/t Au from a
massive scorodite exposure.
A second pass sampling effort was made to better define a
New Showing
highlighted by the 2022 till
sampling program. The known arsenopyrite veining occurs over a 320-metre x 170-metre area proximal
to a granitoid-metasediment contact with select samples returning assay values in the range of 1.00 to
3.89 g/t Au. Sampling this season indicates that the gold mineralisation is associated with arsenic
("As"), Pb, and copper ("Cu") (Figure 2). Additional till sampling lines followed by detailed prospecting
and mapping are required to advance the target.
Sampling of the
Gabbro Breccia
showing returned 16.0 g/t Au and 8.49 g/t Au. This showing, located
approximately 500 metres along trend from the Flood Zone, will receive additional work to potentially
advance to drill-ready status.
The
Zebra Target
received a cursory examination of areas not previously reviewed before drill testing.
The best sample that graded 14.6 g/t Au was returned from an exposure on the western limb of the
anticline. The next best sample that graded 11.46 g/t Au was returned near the tight fold closure of mafic
volcanics over sedimentary units (similar geometry to the Flood Zone). A scout drill hole is planned in the
Zebra area to resolve and confirm geological interpretations before defining an aggressive exploration
drill campaign.
Figure 1: Blue Star Location Map & Grays Bay Road & Port Project
To view an enhanced version of this graphic, please visit:
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Figure 2: New Showing developing out of first pass till sampling; follow-up prospecting and
second pass till sampling refined the area of focus. Rock samples labeled in g/t Au. Black lines
are claim boundaries.
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The complete list of prospecting sample results will be posted on the Company's website.
Prospecting samples are grab samples that are selective by definition and have been collected from
outcrop, subcrop, and felsenmeer. Samples are delivered under chain of custody to ALS Geochemistry
in Yellowknife, NT for sample preparation and are then forwarded to ALS Canada Inc. in North
Vancouver, BC for final analysis. Samples are 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 are 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 20% insertion rate.
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 270 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.
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others, statements we make regarding prospective income and revenues, anticipated levels of capital
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environmental costs, contingent liabilities, and governmental and regulatory investigations and
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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
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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.
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