Blue Star Extends Ataani Massive Sulphide Discovery to +300 Metres, Remains Open; Completes Strategic Expansion of Landholdings
Blue Star Extends Ataani Massive Sulphide
Discovery to +300 Metres, Remains Open;
Completes Strategic Expansion of
Landholdings
Vancouver, British Columbia--(Newsfile Corp. - October 29, 2024) -
Blue Star Gold Corp. (TSXV:
BAU) (OTCQB: BAUFF) (FSE: 5WP0) ("Blue Star" or the "Company")
provides an update on the
Ataani discovery and announces a strategic expansion of its landholdings in the High Lake Belt in the
Kitikmeot region of Nunavut (Figure 1).
Highlights
Ataani,
the first new massive sulphide discovery in the region in ~20 years, confirms the untapped
potential of the High Lake Belt
Located less than 13 km from the High Lake deposits and 6 km from the proposed Grays
Bay Road
This VMS mineralization has now been tested and confirmed over a 300-metre strike length,
and remains open
Strategic low-cost mineral exploration agreement expands Blue Star's footprint in the prospective
High Lake Greenstone Belt, covering an area known for its gold rich VMS deposits
1,587-hectare expansion of the Roma Project to cover strategic ground proximal to MMG's
High Lake deposits
Project encompasses several promising VMS prospects characterized by high grade
copper values in surface rock samples
New prospects occur within the High Lake deposit stratigraphy, less than 2-3 km from
MMG's West Zone deposit
Grant Ewing, CEO of Blue Star stated, "The Ataani massive sulphide discovery, one of the highlights of
our 2024 exploration campaign, further demonstrates the underexplored nature of our extensive
landholdings in the High Lake Belt. Blue Star recently completed a strategic expansion of the Roma
Project to include known historical and untested targets between the Ataani discovery and the existing
High Lake deposits, providing additional high potential resource growth areas for the Company."
Ataani Discovery
Final drill results have been received from the Ataani 2024 drill program. The Ataani VMS discovery
occurs less than 13 km north of the High Lake deposits and 6 km from the proposed Grays Bay Road.
Blue Star first targeted the greenstone hosting the Ataani mineralization through compilation of historical
public data. A fixed loop electromagnetic ("EM") survey completed in the summer of 2024 revealed a
large conductive body ~320 metres by 100 metres in size, below a flat lying Proterozoic diabase sill. The
first three drill holes tested the center of the Maxwell modelled conductive plate and results from these
three drill holes were reported in Blue Star's news releases dated September 5 and September 24,
2024. All Ataani results are presented in Table 1.
Discussion of Results
The final two drill holes into the Ataani target tested the southern and northern extent of the EM model,
confirming the massive sulphide mineralization occurs over ~300 metres of strike length, and are the
subject of this news release. In total, 1,365 metres have been drilled by Blue Star into the Ataani target to
date.
DD24-HII-004
tested the southern end of the conductor 115 metres south of the first intercept in DD24-
HII-001. The drill hole intersected the overlying Proterozoic diabase sill to a depth of 36.05 metres,
followed by a late Archean granite. A package of sericite altered felsic volcanic rock is in sharp contact
with the overlying granite at a depth of 166.95 metres. Sulphide mineralization was intersected at 171.00
metres downhole. A 5.00-metre-wide intersection of stringer to massive sulphide, predominantly pyrite
with minor chalcopyrite in siliceous volcanic rocks, returned grades of 0.63% Cu, 0.76 g/t Au, and
included 1.98 metres of 1.02% Cu and 1.61 g/t Au. A second shorter zone of disseminated to massive
sulphides in sericite rich volcanic rocks at 188.73 metres downhole returned 2.70 metres of 0.58% Cu
and 0.24 g/t Au, including a 0.80 metre interval of 1.23% Cu and 0.51 g/t Au.
DD24-HII-005
, the final drill hole into the Ataani target in 2024 tested the northern extent of the modelled
conductive plate, approximately 110 metres north along strike from the discovery hole DD24-HII-001.
Lithologies intersected in this drill hole are similar to those previously described, with diabase to a depth
of 65.76 metres, followed by granite to a depth of 203.26 metres. A narrow package of felsic volcanics
was intersected from 240.00 through 245.56 metres downhole. Within the felsic rock package, a 2.40
metre zone of massive pyrite returned 0.51% Cu and 0.19 g/t Au, including a 0.40 metre stringer zone
proximal to the lower granitic contact containing pyrite and chalcopyrite grading 1.53% Cu and 0.92 g/t
Au.
Strategic Expansion of Roma Project
Blue Star has expanded its Roma Project land package to cover strategic ground proximal to MMG's
High Lake deposits (Figure 2). The expansion, which added 1,587 hectares, was accomplished through
the signing of a new Mineral Exploration Agreement ("MEA") with Nunavut Tunngavik Incorporated
("NTI"). The Roma Project now encompasses several promising VMS prospects characterized by high
grade copper values and notable sodium depletion in surface rock samples. Sodium depletion is an
indication of hydrothermal alteration, with the most significant depletion commonly occurring proximal to
ore centers. The new prospects occur within the High Lake deposit stratigraphy, less than 2-3 km from
MMG's West Zone deposit.
Past assessment reports completed by OZ Minerals in 2008 confirm the Stu prospect sits approximately
2 km southwest of the West Zone deposit. It is an expansive area of alteration which includes intense
silicification and abundant dalmatianite (source AR030105). Grab samples from the Stu area include
5.17% and 2.56% Cu. A second area, Cario, located approximately 3 km north of the West Zone
returned grab samples of 9.99% and 3.03% Cu. Both areas occur on the new MEA and are highlighted
by significant sodium depletion in surface rock samples (source AR030105).
Exploration Program Progress and Next Steps
The field program is complete. All field data has been received and will be utilised in the review and re-
ranking of targets and target priorities for 2025. Deposit modeling is underway utilizing the compiled
field data to determine impacts to the resource base, refine pipeline target prioritisation, and conduct
pre-planning for 2025. The work completed this season is expected to lead to future discoveries to grow
the resource base of both gold and base metals across the Ulu Project and Roma Project in the
Kitikmeot Region of Nunavut.
Figure 1: Location Map of Blue Star Projects and Landholdings.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2421/228113_517901af04cad959_003full.jpg
Figure 2: Location of Blue Star Gold's Expanded Roma Project Area.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2421/228113_517901af04cad959_004full.jpg
Table 1: Drill Results for the Ataani Target.
Hole ID
From (m)
To (m)
Length (m)
Cu %
Zn %
Pb %
Ag g/t
Au g/t
CuEq%
DD24-HII-001*
214.65
239.80
25.15
0.335
1.048
0.031
8.025
0.130
0.784
includes
222.70
239.80
17.10
0.420
1.432
0.03
9.187
0.133
0.973
which includes
228.30
230.30
2.00
0.078
10.951
0.107
4.331
0.117
3.269
and
236.30
239.80
3.50
1.459
0.154
0.007
25.680
0.293
1.897
DD24-HII-002*
234.70
261.60
26.90
0.413
0.035
0.004
10.929
0.104
0.576
includes
239.55
246.75
7.20
0.91
0.03
0.002
20.07
0.13
1.145
which includes
239.55
244.00
4.45
1.028
0.033
0.003
22.240
0.149
1.304
and includes
256.04
261.60
5.56
0.285
0.042
0.007
10.843
0.146
0.481
DD24-HII-003*
288.65
290.35
1.7
0.68
0.22
0.05
8.13
0.11
0.880
DD24-HII-004
171
176
5.0
0.63
0.06
0.010
19.06
0.76
1.360
includes
171
172.98
1.98
1.02
0.07
0.006
29.42
1.61
2.460
and
188.73
189.73
2.7
0.58
0.06
0.004
18.66
0.24
0.919
Includes
190.63
191.41
0.8
1.23
0.17
0.006
22.70
0.51
1.831
DD24-HII-005
240.56
242.93
2.4
0.51
0.29
0.017
7.21
0.19
0.787
Includes
242.57
242.93
0.4
1.53
0.07
0.00
20.10
0.92
2.385
*Previously reported
Interval lengths are reported as insufficient drilling has been completed to determine true widths
Assays are uncapped
Drill samples are one half from sawn NQ sized drill core delivered under chain of custody to ALS
Geochemistry in Yellowknife, NT for sample preparation which 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 drilling consists of regular
insertion of certified reference materials (CRMs) resulting in a 20% insertion rate.
Metal Equivalents:
Copper Equivalent (CuEq) mentioned above for drill intersections are calculated on a basis of US$
3.75/lb for Cu, US$ 1,900/oz for Au, US$ 20/oz for Ag, US$ 1/lb for Zn, and US$ 0.95/lb for Pb with
metallurgical recoveries assumed for all metals based on the values in the MMG 2023 Mineral
Resource and Ore Reserves Statement. The assays have not been capped. CuEq = Cu + 0.279 * Zn
+ 0.231 * Pb + 0.623 * Au + 0.007 * Ag; calculations reviewed with
Equivalent Grade Calculator
(aaronmcm.com)
.
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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