Blue Star Gold Outlines Several High Potential Target Areas
Blue Star Gold Outlines Several High Potential
Target Areas
Vancouver, British Columbia--(Newsfile Corp. - November 9, 2022) -
Blue Star Gold Corp.
(TSXV:
BAU) (OTCQB: BAUFF) (FSE: 5WP0)
("Blue Star" or the "Company")
provides an update on the
development of its target pipeline conducted across its highly prospective Ulu, Hood River, and Roma
projects ("Projects") located in the Kitikmeot Region of Nunavut.
Program Highlights
Priority Target Areas Include:
Bouncer
trend (~1,500 metres W of Flood Zone deposit): +800-metre-long structural trend
with variable amounts of quartz veining, silicification and sulphide mineralisation returned
samples grading 17.6 g/t Au and 6.60 g/t Au with local elevations in copper;
Zebra-Dagg
corridor (~1,800 metres NNW of Flood Zone deposit): 900-metre-long section
of the Ulu fold hinge with two contacts of interest associated with attenuated sediments
returning samples grading 7.83 g/t Au and 3.69 g/t Au; and
Gravy
trend (~5,500 metres ESE of Flood Zone deposit): +950-metre-long arsenopyrite rich
structural trend returning values that include 8.81 g/t Au and 3.84 g/t Au among numerous
multi-gram samples over 125 metre to 250-metre-long sections of the trend.
A number of shorter strike length trends with significant results include: JC showing returned
samples grading 15.20 g/t Au and 11.05 g/t Au, North Penthouse showing returned samples
grading 92.40 g/t Au, Ulu West Fold showing returned samples grading 4.94 g/t Au and 2.27%
Zinc, Alone showing returned samples grading 6.53 g/t Au, and Roma Fold showing returned
samples grading 14.1 g/t Au with 1.0% lead.
Grant Ewing, Blue Star's CEO, stated:
"It is very encouraging to see the large number of high-quality
target areas outlined during the first systematic regional review at our Projects in over 20 years. The high
gold grades returned from sampling highlight many different trends demonstrating the excellent potential
for new discoveries. The Bouncer trend is an example of an area that has strong potential; it is an
extensive structure with high gold grades at surface, no history of drilling, and located less than 2
kilometres from the Flood Zone gold deposit."
Exploration Program Summary
During the 2022 program, the Company completed approximately 3,865 metres of drilling in 28 holes,
3,055 line-km of airborne magnetics surveying, and a regional till sampling program on the Roma
Project. In addition, 58 of the >100 showings in the target pipeline were reviewed, prospected, and/or
mapped.
Discussion of Exploration Results Reported
The development of a project pipeline within the Company's large land package is an important step to
rapidly evaluate, rate/rank and prioritise targets for future drill testing. This initial work included review of
more than half of the known targets, with a bias towards proximity to existing resources. The field
program included prospecting, mapping, and sampling to confirm and provide additional current
information on the multitude of targets.
Summary of Pipeline Areas of Interest (see figures 2 and 3)
Bouncer trend
: Located approximately 1500m due West of the Flood Deposit and within 1000m of the
existing road, the +800m long trend returned eight anomalous samples including 17.60, 6.60 and 2.84
g/t gold samples. Anomalous samples are generally clustered in a 320m and a 180m section of the
trend which is open to the north and south; no historical drilling has been conducted in this area.
Zebra trend
:
This complex area on the Ulu Fold hinge is comprised of a shallowly north plunging fold with
a core of gabbro overlain by sediments which are overlain by mafic flows. The fold is extremely
attenuated in the sediments with abundant alteration (gossan) at both the upper and lower sediment
contacts. Historical and current sampling has returned anomalous gold values from quartz veining and
weathered gossanous material. Four historical drill holes evaluated quartz veins within the gabbro (best
intercept was 8.31 g/t gold over 2.50 m) however the current sampling program targeted the contacts
and disseminated arsenopyrite within the sediment. Sample results varied from detection limit to 7.83,
3.69 and 1.41 g/t gold.
Gravy trend
: This +950 m long trend of structurally controlled silicification and disseminated arsenopyrite
mineralisation may be continuous with the main Crown Trend inferring continuity through a 500m long
tundra covered valley. If the trend is continuous across the valley this would indicate an inferred strike
extent of +2,200 m within the Crown-Pro Trend which is stratigraphically analogous to the Ulu fold which
hosts the Flood deposit. There is no known drilling in the data base for the Gravy trend however one drill
casing was located in the field proximal to the showing.
JC showing
: This area consists of roughly 30m
2
of anomalous veining with trace sulphides; the best
results returned 15.20, 11.05 and 1.83 g/t gold grades. The area requires additional follow-up due to
poor outcrop exposure. It is located within sediments and is within 300m of the Gnu Zone. No historical
drilling has been conducted in this area.
North Penthouse area
:
This large area has numerous exposures of irregular silicified zones and quartz
veins with arsenopyrite mineralisation. Field checking identified cut channel samples that are not within
the sample database; a check sample of one channel returned 92.40 g/t gold. At least a dozen historical
holes are recognised evaluating at five different targets within the broad area. Additional work is
required to capture existing sample locations, map alteration and structure, compile drill data and
generate a coherent target for drill testing.
Ulu West-Fold showing
: Two styles of mineralisation were noted in the area; a quartz vein traceable for
70m with samples up to 7.83 g/t gold and a 100m long zone of disseminated sulphides which returned
values including 5.19 and 4.94 g/t gold. There is no historical drilling in this area.
Alone showing
: A ~170m long NE-SW trending vein hosted within the same gabbro that hosts the Gnu
Zone polymetallic veins. Sampling returned anomalous areas returning grades of 6.53, 4.55 and 2.44 g/t
gold. The target is located roughly 600m from the Gnu Zone and 725m from the Flood Deposit. One
1991 drillhole (91VD099) tested the Alone target, returning 1.99 g/t Au over 0.68m.
Roma Fold showing
: Limited prospecting returned a sample of 14.10 g/t gold and 1% lead with elevated
silver from carbonate altered rock with arsenopyrite mineralization, similar to a 12.10 g/t gold sample
collected in 2021. There is no historical drilling in this area.
Roma E showing
: Samples in the vicinity of the Roma Main showing returned 9.52 and 4.26 g/t gold
grades which require additional follow-up.
Crown-B showing
: Sampling of two discontinuous parallel quartz veins returned 5.98, 2.20, 1.37 and
0.98 g/t gold grades. The sampling program confirmed 95m of a 215m exposure; requires additional
sampling/channel sampling and detailed mapping. Two short historic drillholes have tested this area,
one returning 5.58 g/t Au over 0.5m (OD-5) and the other not encountering mineralization due to bad
ground conditions that required the rig be set up south of the desired location (OD-6).
Interlake showing
: This is a north-south 160m long trend of anomalous samples; confirmation samples
returned 1.44 and 1.29 g/t Au. Two historical drill holes (12UE004 and 005) partially tested the target
with results of 2.73 g/t gold over 1.97m and 3.33 g/t gold over 2m.
Rhonda showing
: A limited sampling effort identified interesting high silver, copper, and zinc values.
There is no historical drilling in this area.
Figure 1:
Blue Star Projects.
To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/2421/143541_2ebcf0cae485097b_003full.jpg
Figure 2:
Target pipeline plan map.
To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/2421/143541_2ebcf0cae485097b_004full.jpg
Figure 3:
Roma Projects targets on gold in till basemap.
To view an enhanced version of Figure 3, please visit:
https://images.newsfilecorp.com/files/2421/143541_2ebcf0cae485097b_005full.jpg
Table 1:
Notable exploration sample results; > 1 g/t Au or anomalous silver, copper, zinc, lead (Ag, Cu,
Zn, Pb respectively).
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2421/143541_table1.jpg
Blue Star Gold's Projects
The Company's properties are located approximately 525 km NNE of Yellowknife, NT in the Kitikmeot
region of western Nunavut. The hamlet of Kugluktuk is approximately 210 km to the NW. The Roma
property lies approximately 30 km north of the Ulu-Hood River property. The total area of Blue Star's
projects encompasses
267 km
2
of the highly prospective and underexplored High Lake Greenstone
Belt.
The Ulu lease and the contiguous Hood River property together encompass greater than 12,000
hectares (120
km
2
) of highly prospective exploration ground. The recent acquisition of the prospective
and underexplored Roma property that lies approximately 30 km north increased the Company's
landholdings by more than 14,000 hectares (140
km
2
) 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
lease, and hosts over twenty known gold showings. The Hood River prospects have the same
deformation history (including tight folding) as well as similar mineralization 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 2.0
km. In 1991, BHP drilled 10 shallow holes totalling 465 metres to test 1.72 km of 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 Au over 2.31 m (including 64.0 g/t Au over 0.37 m)
from DDH MD-01, and 8.69 g/t Au 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 property and
has presented information obtained from two assessment reports submitted by BHP Minerals Canada
Ltd.; McMaster, G., (1995). Roma 3,4,5 and 6 Claims 1995 Geological and Geochemical Report, and
Anonby, L. and Jopson, W., (1992). Geological, Geochemical, Geophysical and Drilling Report on the
Roma 1 and 2 Claims.
The site of the future deep-water port at Gray's 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 in close proximity to the Roma, Ulu,
and Hood River projects.
Technical Disclosure
Sample results presented are from grab samples which are selective samples by definition and may not
be representative of the sampled mineralized structure or system. Samples were prepared by ALS
Yellowknife-Geochemistry and analyzed at ALS Global, North Vancouver. Gold analysis was by fire
assay using ALS code Au-AA26 and multielement analysis by code ME-MS61. Control samples include
a crush duplicate every twenty samples; certified reference material was inserted once every ten
samples. The range of gold results from exploration samples analysed was detection limit to 92.40 g/t
Au.
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.
Blue
Stars landholdings total approximately 270 square kilometres of highly prospective and underexplored
mineral properties in the High Lake Greenstone Belt, Nunavut.
The Company owns the
Ulu Gold
Property mining lease
, an advanced gold project, the highly prospective
Hood River Property
that is
contiguous to the Ulu lease, and the
Roma Project
.
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, 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 ext. 107
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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This press release contains "forward-looking statements" within the meaning of applicable securities
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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.
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