Blue Star Gold Exploration Update - Newly Identified Mikigon Prospect - Up to 47.1 g/t Gold Sampled at Surface
Blue Star Gold Exploration Update - Newly
Identified Mikigon Prospect - Up to 47.1 g/t
Gold Sampled at Surface
Vancouver, British Columbia--(Newsfile Corp. - August 8, 2023) -
Blue Star Gold Corp. (TSXV: BAU)
(OTCQB: BAUFF) (FSE: 5WP0) ("Blue Star" or the "Company")
announces initial results from its
2023 exploration program. The program includes a multi-prong exploration effort across the Company's
Ulu Gold Project including ground-based geophysical surveys, ground-truthing pipeline targets, mapping
and lithogeochemical sampling, and prospecting. The program has been focused to identify and
advance targets throughout Blue Star's highly prospective landholdings to be drill ready for a 2024
discovery program.
Highlights:
NEW discovery
"Mikigon Prospect" is a sediment hosted mineralised structure traced for 550
metres into overburden (open), highlighted by samples returning
47.1 grams per tonne ("g/t")
gold, 29.6 g/t gold, and 22.7 g/t gold;
Pipeline target Penthouse confirmed to be a precious metals rich base metal prospect, traced on
strike for 400 metres (open), highlighted by samples returning 26.9 g/t gold, 184 g/t silver, 5.73%
copper, 7.12% zinc; and 1.54 g/t gold, 8.59 g/t silver, 0.345% copper with 6,850 g/t cobalt;
Pipeline target Rhonda confirmed to be a precious metals rich base metal prospect, at a flexure in
a mafic volcanic over sediment contact zone, highlighted by samples returning 6.04 g/t gold, 69.9
g/t silver, 0.587% copper, and 12.4% zinc;
Bamako showing (now the Auma Prospect) staked as part of the Roma Project, historical work
indicates a 1.5 km long AEM conductor associated with a magnetic anomaly coincident with
quartz-pyrrhotite veining;
multi-ounce
gold grab samples returned with a historical drill intercept of
15.3 g/t gold over 2.6 metres in a 'gopher' drill hole.
Blue Star's CEO, Grant Ewing, commented
, "The discovery of the Mikigon prospect highlights the
strong potential for significant new mineralised zones at the Company's projects. This new prospect
along with several other high potential targets will be ready for drill testing in future programs. The focus
continues to be on evaluating and prioritizing the large pipeline of targets for gold potential, but it is also
evident that Blue Star's vast landholdings have excellent potential for the discovery of critical mineral
deposits, including copper, zinc and cobalt."
Blue Star's VP Exploration, Darren Lindsay, commented
, "Having the support to undertake a
significant mapping program has allowed the exploration team to better understand the geological
framework and mineralisation settings leading to field-based new target identification this season. This
work will assist in the prioritisation of our
pipeline targets
and eventually to additional discoveries at the
end of a drill bit."
Discussion of Field Results
Mapping has focussed on the 5 km long Ulu fold between the Flood Zone gold deposit and the NFN
deposit, and the North and South Penthouse areas. Mapping is being undertaken at scales of 1:5000
and 1:2500, and pXRF scanning of rock chips is used to determine areas for lithogeochemical sampling
to better define and understand the stratigraphic package and differentiate between more prospective
lithological units. These map areas host many of the key pipeline prospects. Prospectors are focused on
both areas with no previous sampling, and also on confirming and expanding
pipeline targets
.
The Mikigon Prospect was identified during mapping of the sediments surrounding the Ulu Fold in an
area of no previously known sampling. This is the first known substantial sediment hosted mineralised
zone in the Ulu Gold Project. It is located approximately 3.5 km NNE of the Flood Zone gold deposit and
1.8 km SE of the NFN deposit. A total of 33 samples, over a strike length of 550 metres from a
mineralised trend 1 to 4 metres wide on surface, have been collected to date. The prospect is
highlighted by samples returning
47.1 g/t, 29.6 g/t and 22.7 g/t gold
and has a mean gold value of 3.75
g/t in a range of detection limit to 47.1 g/t gold.
The Rhonda Prospect was evaluated to confirm location of historical sampling and better define the
north-south contact/structural trend. The core of the prospect is approximately 30 metres long within a
450-metre section of the structure defined by historical soil samples. The prospect is located
approximately 1.3 km SW of the Flood Zone gold deposit and 900 metres from the camp road. A total of
15 grab samples were collected from outcrop, subcrop and frost heave returning a mean gold value of
1.97 g/t, a mean silver value of 29.2 g/t and a mean zinc value of 2.8% in a range of detection limit to
6.04 g/t gold, 69.9 g/t silver, and 12.4% zinc.
The historical Penthouse showing is hosted within a sedimentary rock package located below a basalt
contact and is traceable for at least 400 metres. The discontinuous massive sulphide horizon ranges
from 0.15 to 0.75 metres wide in the main zone with potential for multiple target horizons in the rock
package. Similar alteration has been observed below the main level, and gold bearing quartz veins
occur at an oblique angle. Results from five samples received to date are tabulated below with a grab
sample from a massive sulphide zone in outcrop returning a highlight grade of 26.9 g/t gold, 184 g/t
silver, 5.73% copper, and 7.12% zinc (see Plate 1).
The 164-hectare Auma Prospect was recently staked as part of the Roma Project. Historical work
includes airborne electromagnetics (AEM), ground based magnetics and horizontal loop EM (HLEM),
mapping, prospecting and six 'gopher' drill holes. Reported results of the work include a 1.5 km long
AEM conductor, a 700 metre long coincident HLEM conductor and magnetic high; numerous anomalous
grab samples of quartz-pyrrhotite veins and three distinct map units. Grab samples reported from
previous exploration companies range to 54.4 g/t gold (BHP 1991), 101.0 g/t gold (Strongbow/Allyn
Resources 2005) and 183.79 g/t gold (Oz Minerals 2008) (pers. comm. T.Toole, 2023). Drilling results
reported by Zaremba and Takenaka in 1995 include drill hole 95HBD-02 which intercepted 2.60 metres
of 15.3 g/t gold. Blue Star has not yet undertaken sufficient work to verify and validate the historical data.
See Figure 1 for a location map of the zones discussed above. Table 1 lists select sample results with
full data available on the Company's website in the near future.
2023 Exploration Program Summary
Blue Star is continuing to build and assess its extensive target pipeline with a focus on expanding the
current resource areas and prioritising several new targets. The technical team's improved
understanding of the geological controls on mineralization following the last two successful field
programs has led to advancing target areas to drill ready.
A geophysical program conducted by Aurora Geosciences Inc. of Yellowknife, NT entailed ground-based
surveys designed to confirm and refine drill targets in the +1,200-metre-long Gnu Zone target area, and
to visualize potential depth extensions to the Flood Zone. These will be reported once final
interpretations are available.
Mapping, prospecting, and geophysical survey data processing is on-going and will be compiled and
reported as results become available. Structural and stratigraphic studies will be compiled and reported
once the data has been received and interpretation is completed.
Several improvements have been made at the Ulu exploration camp, including remediation work to clean
up legacy waste, resulting in a significant increase in efficiencies of the operation.
Plate 1: Sample Location of C120851 at Penthouse Prospect.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2421/176449_0921dda544557a06_003full.jpg
Table 1: Select Results, Full Tables Available on Company's Website.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2421/176449_0921dda544557a06_004full.jpg
Location
Sample_ID
Au_ppm
Ag_ppm
Co_ppm
Cu_ppm
Pb_ppm
Zn_ppm
Mikigon
Prospect
C120856
47.1
5.62
135
203
11.8
74
Mikigon
Prospect
H502539
6.42
1.69
169
176.5
10.6
102
Mikigon
Prospect
H502540
29.6
3.53
82.8
166
9.2
88
Mikigon
Prospect
H502541
1.88
1.83
108
103.5
9.5
39
Mikigon
Prospect
H502542
22.7
4.37
494
274
12
49
Mikigon
Prospect
H502545
1.86
1.24
19.6
49.3
13.7
37
Mikigon
Prospect
H502569
5.42
1.71
193.5
259
11.2
44
Mikigon
Prospect
H502574
1.69
0.61
673
262
18.4
50
Mikigon
Prospect
H502575
1.91
1.23
220
217
21.5
39
Mikigon
Prospect
H502584
1.93
1.9
58.3
492
13.7
72
Rhonda
Prospect
H502529
0.26
29.3
28.3
276
3370
54500
Rhonda
Prospect
H502530
6.04
30.7
50.4
1520
2760
60800
Rhonda
Prospect
H502531
3.36
43.4
47.6
708
6440
76700
Rhonda
Prospect
H502532
2.47
38.8
122.5
594
7940
124000
Rhonda
Prospect
H502533
4.89
37.9
69.2
3850
3140
6200
Rhonda
Prospect
H502535
0.81
15.65
258
686
338
10600
Rhonda
Prospect
H502563
0.62
23.4
36.8
665
2950
3090
Rhonda
Prospect
H502564
2.26
32.6
19.6
1630
422
425
Rhonda
Prospect
H502565
2.79
36.2
28.3
2410
3600
17400
Rhonda
Prospect
H502566
4.53
69.9
27.5
942
13600
59300
Rhonda
Prospect
H502567
0.12
36.4
2.8
5870
983
2780
Penthouse
Prospect
C120851
26.9
184
44.7
57300
5730
71200
Penthouse
Prospect
H501465
1.54
8.59
6850
3450
10.5
101
Penthouse
Prospect
H501467
0.78
44.1
198.5
13700
3860
108500
Penthouse
Prospect
H502501
3.24
58
67.5
1440
2070
126500
Penthouse
Prospect
H502555
1.85
28.6
115
4280
1470
9110
Blue Star's Projects
The Company's 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 total area of Blue Star's
projects cover over 45 km of the highly prospective and underexplored High Lake Greenstone Belt.
The Ulu Gold Project, comprised of the Ulu Mining Lease and the contiguous Hood River Property
together encompass greater than 12,000 hectares of high potential exploration ground. The recent
acquisition of the prospective and underexplored Roma Project increased the Company's landholdings
by more than 14,000 hectares in the High Lake Greenstone Belt.
The Ulu Mining Lease hosts the advanced stage Flood Zone gold deposit, where a significant high-
grade gold resource has been outlined. Several additional gold prospects (including, but not limited to,
Zebra, Contact, Central, Axis, and Gnu) are spatially related to the axis of the ~5 km long Ulu Fold, which
extends from the Ulu lease onto the northern part of the Hood River Property and culminates at the North
Fold Nose Zone. The recent expansion of the Hood River concession added several new target zones
south of the Flood Zone gold deposit. The eastern side of the Hood River Property is contiguous to the
Ulu Mining Lease, and hosts over twenty known gold showings. The Hood River prospects have the
same deformation history (including tight folding) as well as similar mineralisation styles (acicular
arsenopyrite and polymetallic quartz veins) and stratigraphic sequences as the Flood Zone. One of the
most prospective target areas on the eastern Hood River Property is the 4 km long Crown-Pro trend
which has seen only limited drilling.
The Roma Project lies in the northern section of the High Lake Greenstone Belt. The project covers high
grade gold showings discovered by previous explorers, notably BHP Minerals from 1988 to 1994.
Multiple significant gold showings are present within a 6.5 km x 2.4 km area on the historic Roma claim
block. The original showing is a 0.30 to 3.0 m wide quartz vein exposed in outcrop and boulders for 2
km. In 1991, BHP drilled ten shallow holes totaling 465 metres to test 1.72 km of the strike of the vein. All
drill holes intersected quartz veins from 15 m to 37 m vertically below surface. Visible gold was noted in
three of the drillholes and the best results were 12.38 g/t gold over 2.31 m (including 64.0 g/t gold over
0.37 m) from DDH MD-01, and 8.69 g/t gold over 1.87 m from MD-03. No drilling was conducted
downdip of the high-grade intersection in DDH MD-01 and no step out drilling to the north from this
intercept was conducted. No follow up drilling is known to have been completed on this property since
BHP's initial drill program in the 1990's. The company has not verified the historical results from the
Roma Project and has presented information obtained from two assessment reports submitted by BHP
Minerals: G. McMaster (1995), Roma 3, 4, 5 and 6 claims 1995 geological and geochemical report; and
L. Anonby and W. Jopson (1992), geological, geochemical, geophysical and drilling report on the Roma
1 and 2 claims.
The Auma Prospect is located on the western margin of the High Lake Greenstone Belt and covers high
grade gold showings discovered by previous explorers, notably BHP Minerals from 1990 to 1995,
Strongbow Resources from 2004 to 2006 and Oz Minerals from 2007-2008. In 1995 BHP undertook
drilling of six 'gopher' holes in two zones; results from Zone 1 included 2.6 m of 15.3 g/t gold (AR083564
Zaremba,C. and Takenaka,C. 1995 Geological, Geochemical and Geophysical Report on the
Bamakao6 and 9 Claims, NTS 76M3. BHP Minerals Canada Ltd.). In 2006 Strongbow mapped the area
in detail and noted numerous unsampled veins; sampling also discovered Zone 3 with a grab sample
value of 39.3 g/t gold (AR084947 Strongbow Exploration/Allyn Resources 2004-2005 (Bryan 2005)); in
2008 Oz Minerals evaluated the area with a result of 183.79 g/t gold from Zone 3 (pers.comm., T.Toole,
2023).
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 near the Roma and Ulu Gold
Projects.
Technical Disclosure
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.
Prospecting samples are grab samples which are selective by definition and have been collected from
outcrop, subcrop and felsenmeer. Samples are sent 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 prospecting consists of regular insertion of
certified reference materials (CRMs) resulting in a 20% insertion rate.
About Blue Star Gold Corp.
Blue Star is a gold company focused on exploration and development within Nunavut, Canada. Blue
Star's landholdings total 270 square kilometres of highly prospective and underexplored mineral
properties in the High Lake Greenstone Belt, Nunavut. The Company owns the Ulu Gold Project,
comprised of the
Ulu Mining Lease
and
Hood River Property
, and the Roma Project which includes the
Auma Prospect. 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.
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.
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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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