Blue Star Gold Acquires Roma Mineral Exploration Agreement Consolidating 40 Kilometres of the High Lake Greenstone Belt
Blue Star Gold Acquires Roma Mineral
Exploration Agreement Consolidating 40
Kilometres of the High Lake Greenstone Belt
Vancouver, British Columbia--(Newsfile Corp. - January 12, 2022) -
Blue Star Gold Corp. (TSXV:
BAU) (FSE: 5WP0) (OTCQB: BAUFF) ("Blue Star"
or the
"Company")
is pleased to announce the
signing of an additional Mineral Exploration Agreement (MEA) with Nunavut Tunngavik Inc (NTI) and the
staking of additional claims resulting in the continued consolidation of the Roma Project. Additionally, the
Company provides an update on the initial geochemical surveying completed at the Roma Project,
located in the High Lake Greenstone Belt (HLGB), Nunavut.
Highlights:
Blue Star increases Roma Project area by 89% to a total of 145.2 square kilometres
Blue Star is the dominant landholder in the highly prospective HLGB, now controlling over 50 km of
the prospective terrain of the Belt with its Ulu, Hood River and Roma Projects combined
Agnico Eagle controls the ground contiguous to both the Hood River and Roma Projects, and
is the only other significant landholder in the Belt (see Figure 1)
In addition to drill ready targets at Roma Main, five new prospective target areas at North Roma
and four new target areas at South Roma have been identified following the recently completed
geochemical sampling program
CEO, Grant Ewing, stated, "Our Ulu Project hosts the high-grade Flood Zone deposit and is a great core
asset for Blue Star however we are also taking advantage of opportunities that are accretive to the
project as a whole. Consolidating a significant land position in the north part of the High Lake
Greenstone Belt immediately adjacent to the High Lake VMS deposit and having drill ready targets
transforms Blue Star into a regional player."
Roma Project Summary
Following the increase in landholdings announced today, the Roma Project area now encompasses
145.2 square kilometres of highly prospective mineral claims in the HLGB. At Roma Main there is a
mineralized quartz vein measuring up to 3.0m wide traceable for approximately two kilometres. Results
include grab samples to 126 g/t gold and an intersection of 12.38 g/t gold over 2.31m from limited
drilling. At Roma Fold, there is a mineralized 1.0 - 2.5m wide quartz vein traceable for 350m in an
anticlinal sequence of basalt and sediments. Surface sampling returned gold values up to 5.6 g/t gold but
this showing was never drilled.
The structural setting and mineralization style of Roma Fold are similar to the high-grade mineralization
that occurs at the Flood Zone deposit on the Company's Ulu Project located 48 kilometres due south
(see News
Release dated February 18, 2021 for more details).
"Last explored roughly 25 years ago, the limited Roma field program in 2021 conducted familiarization
traverses, mineralized showing checks and undertook some preliminary geochemical surveying. Given
the limited work, the Roma Main showing is considered drill-ready and the initial geochemical surveys
are indicative of additional previously unsampled potential target areas. I am excited that such a limited
work program indicates solid potential for near term discovery on the Roma Project," commented
Darren Lindsay, Vice President Exploration.
2021 Exploration Program
Blue Star initiated its 2021 exploration program on June 23 with a geophysics campaign, a drill
campaign starting on July 16
th
, and surface exploration on August 1
st
and successfully completed all
phases of the program in September.
The Exploration campaign evaluated several high priority targets in the area of the known high-grade
Flood Zone Gold Deposit on the Ulu Project, and on high potential targets along the Ulu fold hinge.
Numerous priority targets exist along the 5 km long Ulu Anticline which extends from the Flood Zone
Deposit onto the contiguous Hood River Project up to the North Fold Nose Zone.
Targets considered high priority on the Hood River and Roma Projects had basic initial exploration
campaigns to better understand host geology, confirm structures and existing anomalous zones and
undertake initial geochemical surveys to determine potential to generate additional targets of interest.
Objectives of the 2021 program include better understanding the controls of higher-grade zones within
the hosting structures, evaluating additional structures on and adjacent to the Ulu fold hinge, and defining
additional targets for potential near-term discovery.
The balance of the assay results from the program will be reported as they are received. The slow
turnaround of assays results from the lab is an issue facing the entire sector due to COVID related
disruptions and the high level of mineral exploration in Canada.
Figure 1: Location map of the consolidated Roma Project Area.
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/2421/109762_2cd629fe749a3b19_003full.jpg
Figure 2: Initial geochemical survey results (a) North Roma and, (b) South Roma Project Area
indicating 'open' anomalous trends.
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/2421/109762_2cd629fe749a3b19_004full.jpg
See the Company's website for a detailed discussion of the Roma geochemical results.
Qualified Person
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 gold company focused on exploration and development within Nunavut, Canada. The
Company owns the
Ulu Gold Property
lease, an advanced gold project, and the highly prospective
Hood River Property
that is contiguous to the Ulu mining lease. With the recently expanded
Roma
Project
, Blue Star now controls approximately 27,000 hectares of highly prospective and underexplored
mineral properties in the High Lake Greenstone Belt, Nunavut. A significant high-grade gold resource
exists at the Flood Zone deposit (Ulu lease), and numerous high-grade gold occurrences and priority
targets occur throughout the Ulu, Hood River and Roma Projects.
Blue Star is listed on the TSX Venture Exchange under the symbol: BAU, on the Frankfurt Exchange
under the symbol: 5WP0, and on the OTC under the symbol: BAUFF. 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,"
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others, statements we make regarding prospective income and revenues, anticipated levels of capital
expenditures for 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, future 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/109762