BAU.V · 2020-09-30 12:00:00

Blue Star Gold Drills 13.42 g/t over 7 Metres at Ulu Gold Property and 13.87 g/t over 3 Metres at Hood River Property

Drill Results

Blue Star Gold Drills 13.42 g/t over 7 Metres at

Ulu Gold Property and 13.87 g/t over 3 Metres

at Hood River Property

Vancouver, British Columbia--(Newsfile Corp. - September 30, 2020) -

Blue Star Gold Corp.

(TSXV:

BAU) (FSE: 5WP) ("Blue Star" or the "Company") announces the first assay results from the 7,624

metre diamond drilling program at its Ulu and Hood River properties. The properties are located

approximately 525 km NNE of Yellowknife, NT in the Kitikmeot region of western Nunavut. Kugluktuk is

approximately 210 km to the NW.

Highlights:

7,624 metres drilled in thirty-eight diamond drill holes

Ten holes were drilled at Ulu and Gnu deposits to expand known resources and confirm the

geologic model

Twenty-eight holes were drilled to test high priority exploration targets on both the Ulu and

Hood River properties, including fourteen in the North Fold Nose (NFN) zone

Assay results for 3 Flood zone and twelve NFN zone holes returned thus far

Highlight gold assay results for the Flood zone:

BS2020ULU-002, (9 - 16m):

7 metres (m) of 13.42 g/t gold (Au)

Including (12 - 13m): 1 m @ 31.5 g/t Au; and including (13 - 14m): 1 m @ 17.95 g/t Au;

and including (14 - 15m): 1 m @ 23 g/t Au; and including (15 - 16m): 1 m @ 13.65 g/t

BS2020ULU-003, (13 - 22m):

9 m of 8.67 g/t Au

Including (19 - 20m): 1 m @ 11.05 g/t Au; and including (20 - 21m): 1 m @ 18.4 g/t Au

BS2020ULU-003, (110 - 118m):

8 m of 8.26 g/t Au

Including (112 - 113m): 1 m @ 17.95 g/t Au; and including (113 - 114m): 1 m @ 12.45

g/t Au

BS2020ULU-003, (154 - 165m):

11 m of 4.24 g/t Au

Including (160 - 164m): 4 m @ 8.16 g/t Au

Highlight gold assay results for the NFN zone:

HR20-013, (109 - 111m):

2 metres (m) of 13.18 g/t gold (Au)

Including (109 - 109.5m): 0.5 m @ 50.8 g/t Au

HR20-014, (118 - 122m):

4 m @ 7.59 g/t Au

HR20-016, (141 - 145m):

4 m @ 6.09 g/t Au

Including (144 - 145m): 1 m @ 18.9 g/t Au

HR20-017, (164 - 167m):

3 m @ 13.87 g/t Au

Including (164 - 165m

1 m @ 16.35 g/t Au; and including (165 - 166m): 18.3 g/t Au

HR20-020, (140 - 144m):

4 m @ 5.52 g/t Au

Including (142 - 143m

1 m @ 6.79 g/t Au

Grant Ewing, the Company's CEO, commented, "Our current 7,624 metre drill program represents the

most significant exploration program conducted at the Ulu and Hood River projects in over a decade,

and the first drilling campaign completed on the Ulu project since its acquisition by Blue Star. The results

reported today indicate the strong potential to increase the scale of our high-grade gold resources and

shows the excellent potential for new discoveries on our extensive landholdings. Thirty-eight holes have

been drilled during the current program, which will lead to a very active news flow period as we report the

balance of the assay results over the coming days."

Ulu and Hood River Properties

The Ulu lease and the contiguous Hood River property together encompass approximately 9,000 ha of

highly prospective exploration ground. The Ulu lease hosts the advanced stage Flood and Gnu gold

deposits, where a significant high-grade gold resource has been outlined. A series of gold occurrences

occur on-strike and north of the Flood gold zone and are thought to be related to the ~5 km long Ulu

regional fold that extends from the Ulu lease on to the north Hood River property culminating at the NFN

zone. This structure, called the Robb trend, extends from the Flood and Gnu gold zones along the Ulu fold

to the north and hosts at least five gold zones in addition to the Flood and Gnu zones (NFN, INT, Bizen,

Apex and Contact zones) (see Figure 1, page 5). The Hood River property is contiguous to the Ulu lease

to the north, east and south, and hosts over twenty known gold showings (see Figure 2, page 6). Many of

the high-priority target areas outside of the Flood zone have only been tested with relatively shallow

drilling, and the potential throughout the properties to host new discoveries at depth is considered high.

Refer to the link to view a 3-D model of the Flood and Gnu deposits

(

https://bluestargold.ca/projects/ulu/flood-gnu-resource-3d-model/

Next Steps, Upcoming Milestones

The Company is entering a period of very active news flow as assay results from the balance of the

drill holes will be reported over the coming days

Plans underway to update the Flood and Gnu zone resource estimates following assessment of all

the Summer/Fall 2020 drilling program data. The Flood and Gnu zones have excellent resource

expansion potential and it is anticipated that the first estimate for the NFN zone will also be

completed

Planning for an aggressive 2021 exploration program, ~12,000 - 15,000 metres of diamond

drilling scheduled to further expand the resource base and test numerous high priority drill targets

throughout the Ulu and Hood River properties

2020 Exploration Program Summary

The program entailed 7,624 metres of diamond drilling in thirty-eight diamond drill holes on the Ulu and

Hood River properties. The Flood zone holes were drilled to; provide additional geologic information and

confirm certain aspects of the geologic model of the deposit, to improve drill hole density and allow for

possible upgrading of the resource category, and to expand the resource base. The Contact zone holes

were drilled to test a high priority target zone where no resource estimate has been established yet.

Several high priority exploration targets were tested on north Hood River. No resource estimates have

been completed at these zones yet, but it is anticipated that enough drill data will exist for the first

resource estimate on the NFN zone following the current program.

Table 1: Ulu Project Diamond Drill Hole Summary:

Hole Name

Project Name

Target Name

Azimuth

Dip

Total Metres

Drilled

BS2020ULU-

001

ULU PROJECT

FLOOD

-65

400

BS2020ULU-

002

ULU PROJECT

FLOOD

270

-50

BS2020ULU-

003

ULU PROJECT

FLOOD

270

-55

350

BS2020ULU-

004

ULU PROJECT

FLOOD

205

-62

641

BS2020ULU-

005

ULU PROJECT

FLOOD

230

-57

536

BS2020ULU-

006

ULU PROJECT

FLOOD

216

-61

542

BS2020ULU-

007

ULU PROJECT

GNU

-50

170

BS2020ULU-

008

ULU PROJECT

GNU

-65

101

BS2020ULU-

009

ULU PROJECT

GNU

-45

130.5

BS2020ULU-

010

ULU PROJECT

GNU

-60

142

BS2020ULU-

011

ULU PROJECT

CONTACT

234

-55

284

BS2020ULU-

012

ULU PROJECT

CONTACT

275

-50

383

Total

3696.5 m

Table 2: Hood River Project Diamond Drill Hole Summary:

Hole

Name

Project Name

Target Name

Azimuth

Dip

Total Metres

Drilled

HR20-

013

HOOD RIVER

PROJECT

NFN

-55

126

HR20-

014

HOOD RIVER

PROJECT

NFN

-73

151

HR20-

015

HOOD RIVER

PROJECT

NFN

240

-79

181

HR20-

016

HOOD RIVER

PROJECT

NFN

240

-58

210.5

HR20-

017

HOOD RIVER

PROJECT

NFN

240

-45

215

HR20-

018

HOOD RIVER

PROJECT

NFN

-86

211

HR20-

019

HOOD RIVER

PROJECT

NFN

-73

164

HR20-

020

HOOD RIVER

PROJECT

NFN

-55

154

HR20-

021

HOOD RIVER

PROJECT

NFN

-76

148

HR20-

022

HOOD RIVER

PROJECT

NFN

-88

163

HR20-

023

HOOD RIVER

PROJECT

NFN

-85

109

HR20-

024

HOOD RIVER

PROJECT

NFN

-60

121

HR20-

025

HOOD RIVER

PROJECT

NFN

246

-70

101

HR20-

026

HOOD RIVER

PROJECT

NFN

245

-48

133

HR20-

027

HOOD RIVER

PROJECT

INT

356

-45

100

HR20-

028

HOOD RIVER

PROJECT

INT

356

-70

145

HR20-

029

HOOD RIVER

PROJECT

BIZEN

-45

314

HR20-

030

HOOD RIVER

PROJECT

APEX

290

-45

300.7

HR20-

031

HOOD RIVER

PROJECT

APEX

180

-45

161

HR20-

032

HOOD RIVER

PROJECT

APEX

180

-75

111.5

HR20-

033

HOOD RIVER

PROJECT

CROWN

-45

149

HR20-

034

HOOD RIVER

PROJECT

CROWN

-85

HR20-

035

HOOD RIVER

PROJECT

CROWN

290

-55

152

HR20-

036

HOOD RIVER

PROJECT

SOUTH

PENTHOUSE

-60

107

HR20-

037

HOOD RIVER

PROJECT

SOUTH

PENTHOUSE

-85

HR20-

038

HOOD RIVER

PROJECT

SOUTH

PENTHOUSE

-70

Total

3924.7 m

Figure 1: Ulu Property, Robb Trend:

To view an enhanced version of Figure 1, please visit:

https://orders.newsfilecorp.com/files/2421/64900_7e02a3baf46aca2a_001full.jpg

Figure 2: Ulu and Hood River Properties:

To view an enhanced version of Figure 2, please visit:

https://orders.newsfilecorp.com/files/2421/64900_7e02a3baf46aca2a_002full.jpg

Assay results for 3 holes returned from the Flood zone:

Hole ID

Includes/And

From (m)

To (m)

Core

Length (m)

Au (g/t)

Ag (g/t)

BS2020ULU-001

2.95

12.4

243

245

4.65

0.2

INCLUDES

243

244.1

1.1

7.85

0.2

295

299

1.235

0.2

BS2020ULU-002

0.974

0.1

1.26

0.2

1.59

0.1

13.42

0.3

INCLUDES

31.5

0.7

AND

17.95

0.4

AND

0.5

AND

13.65

0.3

BS2020ULU-003

1.1

0.1

1.45

0.1

8.67

0.4

INCLUDES

11.05

0.3

INCLUDES

18.4

0.7

5.53

0.3

7.84

0.3

INCLUDES

15.4

0.4

6.08

0.5

4.47

0.3

INCLUDES

14.5

0.6

1.18

0.2

106

5.85

0.5

INCLUDES

101

104

12.42

0.9

110

118

8.26

0.5

INCLUDES

112

113

17.95

2.1

AND

113

114

12.45

0.2

154

165

4.24

0.4

INCLUDES

160

164

8.16

0.7

175

176

1.06

0.3

205

206

1.69

0.3

250

251

3.6

0.2

308

309

0.42

0.1

Assay results for twelve holes returned from the NFN zone:

Hole ID

Includes/And

From (m)

To (m)

Core

Length (m)

Au (g/t)

Ag (g/t)

HR20-013

109

111

13.18

6.7

INCLUDES

109

109.5

0.5

50.8

24.4

HR20-014

118

122

7.59

3.9

HR20-015

132

134

1.22

0.6

HR20-016

141

145

6.09

8.1

INCLUDES

144

145

18.9

3.1

HR20-017

164

167

13.87

1.6

INCLUDES

164

165

16.35

1.3

AND

165

166

18.3

2.2

HR20-018

127

129

9.1

0.3

INCLUDES

128

129

17.9

0.5

HR20-019

150

151

0.56

0.4

HR20-020

140

144

5.52

1.5

INCLUDES

141

142

3.67

1.0

AND

142

143

6.79

1.5

HR20-022

140

143

3.65

0.6

139

141

1.68

0.6

HR20-023

86.7

89.3

2.6

1.87

0.9

HR20-024

2.42

1.5

HR20-025

0.3

*Note that intervals listed above are core length, and not true width

At the NFN zone, high grade gold mineralization occurs within a folded and sheared quartz-flooded zone

at the contact between meta-volcanic and metasedimentary rocks. The mineralized zone extends for

more than 50 metres along strike, has an approximate average thickness of 2.5 metres and has been

traced for over 130 metres down dip.

This structure remains open along strike and to depth.

Metallurgical test work on the NFN mineralization compares favourably with the Flood zone, which has

shown that gold is recoverable in amounts greater than 90% recovery with simple and conventional

processing methodology.

QA/QC Program for the 2020 Exploration Work

All drill core was logged and sampled in secure core processing structures located at the Ulu or Hood

River camps.

Drill core samples were collected by either cutting the core in half using diamond saws or

by splitting the core half using hydraulic core splitters. In addition to the QA/QC protocols of ALS Global,

the Company maintains its own program of inserting Standard Reference material in the form of

standards and blanks into the sampling stream, prior to being shipped to ALS's preparation facility in

Yellowknife.

History and Geology of the Ulu and Hood River Gold Properties

The properties are located approximately 525 km NNE of Yellowknife, NT in the Kitikmeot region of

western Nunavut. Kugluktuk is approximately 210 km to the NW.

The Ulu property consists of a renewable 21-year mining lease and covers an area of approximately 947

ha. The lease hosts an advanced gold project that between 1989 and 2012 saw significant exploration

and development by BHP Minerals and Echo Bay Mines, among others. The past work includes

approximately 1.7 km of underground development and approximately 405 diamond drill holes that

produced 97,820 m of core (Ulu and Hood River). The Flood Zone contains the bulk of the Ulu gold

resource and is open on-strike and at depth. Overall resources of 2.50 million tonnes grading 7.53 g/t Au

for 605,000 gold ounces (measured & indicated category) and 1.26 million tonnes grading 5.57 g/t Au

← Back to feed