Blue Star Gold 2024 Discovery Exploration Program
Blue Star Gold 2024 Discovery Exploration
Program
Vancouver, British Columbia--(Newsfile Corp. - March 26, 2024) -
Blue Star Gold Corp. (TSXV: BAU)
(OTCQB: BAUFF) (FSE: 5WP0) ("Blue Star" or the "Company")
today provided an update on its
2024 exploration campaign at the Ulu-Hood River and Roma Projects in the High Lake Greenstone Belt,
Kitikmeot Region of Nunavut. The program will focus on new discoveries, resource expansion at or near
existing deposits, and evaluation of the Company's robust target pipeline.
Exploration Program Highlights and Opportunities
The exploration program will be mobilized during the second quarter of 2024
Drill testing at Mikigon, a new +500-metre-long grassroots prospect with no drilling in the area,
auriferous quartz-arsenopyrite mineralised structure in folded metasedimentary rock units with
multiple grab samples in excess of 10 grams/tonne (g/t) gold
High potential resource expansion targets from re-interpreted mineralisation north of the Gnu
deposit
Additional resource expansion targets identified as a result of geological modeling of the Flood
Zone deposit, within and adjacent to existing drilling
Drill-ready targets supported by geological, geochemical, and geophysical data at the Central
Zone, Nutaaq Trend, Rhonda showing, South Zone-Twilight and South Penthouse
Numerous gold and critical mineral targets at Roma to be evaluated with geophysical and
mapping/prospecting programs
Blue Star is planning a balanced exploration program which includes mapping/prospecting, geophysical
surveying and drilling. Detailed mapping of drill targets and prospecting will be conducted to further
refine the controls on mineralisation and new potential target areas. Geophysical work will include drone-
based magnetometry, ground-based electromagnetic (EM) surveys, and induced polarisation (IP)
surveys to further refine select zones including auriferous critical metal targets. The drilling component
will focus on the discovery of new resources at re-interpreted targets, expansion targets, and previously
untested targets.
Grant Ewing, CEO, stated: "Our 2024 campaign leverages the results of a very successful 2023
program. Our large pipeline of high-quality targets has been refined as we prepare for the upcoming
season. The drilling component will focus on new discoveries and on resource expansion adjacent to
and within known resource centres. As Blue Star finalizes preparation for the 2024 exploration
campaign, we are excited by the prospects and look forward to continuing to unlock the district-scale
gold and critical minerals potential of the High Lake Belt."
Figure 1: Blue Star Location Map & Proposed Grays Bay Road
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2421/203035_3c864e5934739895_003full.jpg
Figure 2: High Potential Target Areas for 2024
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2421/203035_3c864e5934739895_004full.jpg
Target Area Descriptions
Targets deemed drill-ready for the 2024 campaign are based on scale, proximity to the existing
infrastructure and potential to create a new resource centre. Many targets remain in the drill-ready or
near drill-ready status but do not yet meet key criteria or are too conceptual for the upcoming drill
program. Those targets, and others lower in the extensive pipeline, are the focus of the geophysical,
mapping, and ground-truth/prospecting programs.
In addition to the high potential for new discoveries, there is also opportunity to expand the mineral
resources at the known deposits (Flood, Gnu and NFN). At the Flood Zone, additional geological data
continues to outline shallow-to-moderate depth targets for drill evaluation. These include polymetallic
targets, trends of pathfinder elements coincident with alteration trends, and extensions to modeled
zones.
Priority Ulu-Hood River Drill Targets
Mikigon
is a +500-metre-long coincident geophysical anomaly and alteration trend which returned
numerous high-grade gold samples in 2023. An IP survey will be used in the area under cover to
the north in order to trace and/or refine drill targets. No drilling has been conducted in the region of
this priority drill target.
The Nutaaq Trend hosts the Gnu Zone deposit which is comprised of discrete veins within the
competent gabbro on the east limb of the Ulu Fold and also silicified limb parallel zones hosting
acicular arsenopyrite similar to the Flood Zone. The
North Nutaaq,
a 400-metre-long section to
the north, hosts historical drilling intercepts which have been remodelled based on the Gnu zone
knowledge and will be drill-tested. A 600-metre-long section to the south,
South Nutaaq
, hosts
overburden-covered geophysical signatures similar to the Gnu Zone that will be drill-tested.
The
Central Zone
has an open intercept of 40.24 metres of 0.73 g/t gold (NR Oct 25, 2022) that
will be followed up with oriented drill core. Geophysical data indicates that this priority target area
has similar structural relationships to the Flood Zone deposit.
SouthZone-Twilight
is a ~500-metre-long alteration zone with a similar structural orientation as
the Flood Zone, cutting the same lithological units. It will receive initial oriented core drilling to
assess the potential of the target.
Rhonda
is an auriferous critical mineral target that will be evaluated by ground-based EM and
drilling. The target area has massive sulphide outcrops with high zinc values, and coincident soil
geochemistry and VLF-EM and magnetic anomalies. Two similar showings, Interlake and Hunter,
are located two kilometres along the same stratigraphic horizon where no previous drilling has
been conducted.
Figure 3: Roma Project Targets
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2421/203035_bluestarfigure3.jpg
Roma Targets
Several targets will be followed up with drone-based magnetometry, ground-based EM, soil grids, and
select till sampling. Results of the early season work may result in initial drill testing of at least five target
areas, including:
The
H101 Prospect
is a disseminated to semi-massive zone that contains 0.6 meters of massive
sphalerite. Two historical drill holes tested a ~350-metre-long EM conductor resulting in a 21-metre
section with low-grade zinc and copper values. The best surface showing and the plunge of the
conductor have never been drill-tested.
The extension of the High Lake gold-enriched VMS deposit's
North Zone
onto the Roma Project.
Groundwork to follow-up the potential marker unit, alteration mapping, and a ground-based EM
survey are planned to refine the target for drill testing.
Ground truthing of the
Marble Fold
area which exhibits a potential cap-rock unit to possible
sulphide accumulation in the same stratigraphy as the High Lake VMS deposit AB/D zones. A
coincident magnetic anomaly will be evaluated with ground-based EM surveying prior to a drill
decision. Nearby significant occurrences of mapped arsenopyrite are indicative of potential for
related gold targets.
Historic airborne EM conductors occur on
Roma D
which are coincident with magnetic anomalies
and are closely associated with historically mapped exhalative units. Mapping notes include
mention of gossan, pyrite, and sphalerite along the conductive trend. Mapping and
lithogeochemical sampling will refine the drill targets in the area.
Gray's Bay Road and Port Project (GBRPP)
West Kitikmeot Resources has been assigned as the new proponent for the GBRPP. The project
envisions a deepwater port built on Coronation Gulf and a road connecting Nunavut to the Northwest
Territories. The proposed all-season road would travel within and immediately adjacent to Blue Star's
Projects, providing excellent accessibility. This future access will dramatically lower the operating costs
in the region, connect Northern products to markets around the world, and enable supplies to reach the
area at a lower cost, for a longer season, and with greater reliability.
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 target areas 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 Gray's 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:
Raffi Elmajian, Corporate Communications Manager
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/203035