Blue Star Gold Provides Additional Exploration Results
Blue Star Gold Provides Additional
Exploration Results
Vancouver, British Columbia--(Newsfile Corp. - October 25, 2022) -
Blue Star Gold Corp.
(TSXV:
BAU) (FSE: 5WP0) (OTCQB: BAUFF)
("Blue Star" or the "Company")
announces additional results
from its 2022 exploration program across the Company's highly prospective Ulu, Hood River, and Roma
projects located in the Kitikmeot Region of Nunavut.
Program Highlights:
3,865 metres of drilling in 28 holes were completed during the 2022 program.
A 3,055 line-km airborne magnetics survey was completed, providing complete coverage over the
Company's extensive landholdings.
A regional till sampling program on the Roma Project was completed. In addition to confirming
strong till trains for the known targets, several prospective new target areas were identified.
Over ½ of the >100 mineral showings in the 'target pipeline' were reviewed, prospected, and
mapped, resulting in the identification/confirmation of several prospective target areas (see Figure
1). Examples include:
Zebra-Dagg corridor - a 900-metre-long section of the Ulu fold hinge located ~1,800 metres
NNW of the Flood deposit; with only three short historic drill holes,
875-metre-long Gravy showing located ~ 5,500 metres ESE of the Flood deposit, may link to
the Crown Trend providing a composite 2,200-metre-long corridor; no drilling has been
recorded in the Gravy area however one drill casing was located nearby, and
~700-metre-long Bouncer structure located ~1,700 metres west of the Flood deposit, no
drilling has been conducted on this extensive zone.
Drill hole DD22-CEN-002 returned a 40.24 m interval of moderately to strongly altered rock
containing 0.73 g/t gold starting at 126.76 m downhole, including
2.49 m of 2.70 g/t gold and 5.42
m of 1.35 g/t gold.
Drill hole DD22-CEN-003 returned 2.5 m of 4.24 g/t gold,
including 1.59 m of 5.59 g/t gold
starting
at 112.29 m downhole.
Drill hole DD22-IGU-001A intercepted a new shallow vein at Nutaaq (Gnu) zone with 1.18 m of
6.78 g/t gold
including 0.69 m of 10.25 g/t gold.
Excellent progress made in improving the condition of the overall Ulu site (i.e., legacy waste clean
up).
Exploration Program Summary
All drilling was completed with oriented core to assist in geological modeling. In addition, 58 of the >100
showings in the 'target pipeline' were reviewed, prospected, and mapped. Approximately 50% of the
program samples are pending laboratory results, most of which are rock and soil samples.
Discussion of Drill Results Reported:
The Central Zone target area is comprised of three inferred sub-parallel calc-silicate altered and locally
mineralised structures traced intermittently on surface for up to 2,000 metres. One zone, Central-C, was
chosen for additional drilling this season due to its proximity to the Flood Zone, the strong alteration
present, and the down dip continuity determined from previous drilling. Drilling indicates a potential
change in orientation of the structure parallel to the Flood Zone, a more favourable orientation for mineral
development.
A final drill hole at the Gnu (Nutaaq) Zone, DD22-IGU-001A is reported that was evaluating a blind vein
intersected in DD22-MIQ-001 earlier in the season which returned 0.68 m of 1.06 g/t gold.
DRILLING
DD22-CEN-001 returned no significant intercepts although the target was intersected as an 11-metre-
wide section of calc-silicate alteration with intervals of silicification and low abundances of acicular
arsenopyrite. The drillhole cut a series of basalt flows with a significant fault that was logged above the
target horizon.
DD22-CEN-002, returned an open 40.24 m wide moderately to strongly altered interval containing 0.73
g/t gold starting at 126.76 metres downhole, including 2.49 m of 2.70 g/t gold and 5.42 m of 1.35 g/t
gold. The drill hole intersected basalt flows with an interval of interflow sediment located between 105.48
to 109.76 m. Two sections of weak irregular calc-silicate alteration were logged, with both returning
anomalous levels of gold mineralisation associated with sections of stronger alteration, silicification and
abundances of fine acicular arsenopyrite up to 2-3%.
DD22-CEN-003 intersected 4.24 g/t gold over 2.5 m, including 5.59 g/t over 1.59 m
starting at 112.29 m
downhole. The hole was drilled through basalt flows and gabbro. A 6 cm wide interval of strong fault
gouge was noted in the drillhole at approximately 52 m. The targeted acicular arsenopyrite zone (107 -
115 m) contains two sections of strongly strained, altered and silicified basalt hosting pyrite and
pyrrhotite and 1% acicular arsenopyrite at the start of the interval and up to 7% acicular arsenopyrite in
the lower portion of the interval, which returned the best gold values.
DD22-CEN-004 was drilled to test a historical drill hole (90VD83; 1.09 m of 27.49 g/t gold). The hole
intersected basalt flows and two quartz-feldspar porphyry dikes. Two fault gouge zones were also
intersected. Two intercepts of interest, 0.39 m of 1.31 g/t gold and 0.99 m of 1.26 g/t gold, are
associated with silicified sections of calc-silicate altered rock with trace to 2% pyrite and pyrrhotite and
small clusters of fine acicular arsenopyrite.
DD22-IGU-001/-001A. The initial drill hole was lost and was redrilled. The hole intercepted gabbro
hosting a smoky quartz vein. The vein contained pyrrhotite, sphalerite, pyrite, chalcopyrite and rare
visible gold mineralisation. The host rock contained leucoxene alteration and exhibited moderate to
strong strain around the veining.
Figure 1:
Target pipeline plan map
To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/2421/141710_a4ccf98b44b0eb82_003full.jpg
Table 1:
Table of drill collar locations for holes reported in this release
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2421/141710_tableone.jpg
Table 2:
Table of results to date
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2421/141710_tabletwo.jpg
Figure 2:
Plan map of drill holes
To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/2421/141710_a4ccf98b44b0eb82_006full.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
Drill holes reported had core samples cut by core saw with one half of the core retained and the other
half sent for analysis. 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. Reported assay intervals are uncapped, use a
minimum 1 g/t gold assay cut off with the inclusion of up to 2 m of material below cut-off. True widths for
all but the Flood Zone are not known due to lack of drilling and may range from 50% to 95% of drilled
lengths.
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.
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 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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