Blue Star Gold Provides Exploration Program Update; 6.52 g/t Gold Over 17.4 Metres Intersected at Flood Zone
Blue Star Gold Provides Exploration Program
Update; 6.52 g/t Gold Over 17.4 Metres
Intersected at Flood Zone
Vancouver, British Columbia--(Newsfile Corp. - August 17, 2022) -
Blue Star Gold Corp.
(TSXV: BAU)
(FSE: 5WP0) (OTCQB: BAUFF)
("Blue Star" or the "Company")
announces an update on its multi-
prong exploration program across the Company's highly prospective Ulu, Hood River, and Roma
projects located in the Kitikmeot Region of Nunavut. Exploration activities covered by this update include
drilling at the Flood and Gnu Zone, a regional geochemical survey on the Roma Project, and initial
pipeline prospect reviews.
Highlights:
DD22-FLO-001 returned
6.52 grams/tonne ("g/t") gold over 17.4 m
, including 9.96 g/t gold
over 6.3 m
starting at 4.40 m downhole, and
7.62 g/t over 3.0 m
and 19.80 g/t over 0.50 m.
At the Gnu (Nutaaq) Zone DD22-MIQ-002 intersected 2.51 g/t over 3.0 m from 137.4 m.
A regional sampling program on the Roma Project has collected and analysed 936 samples,
representing approximately 50% of the planned program. Eight anomalies crossing at least two till
lines are in the process of additional sampling and prospecting.
Eight additional drill holes have been completed in the Gnu Zone target area and four drill holes
have been completed at the Central-C target with samples shipped and assays pending.
Final deliverables from Precision GeoSurveys have been received and are being utilised by the
field team as an additional data layer in the pipeline target reviews.
Exploration Program Progress Summary
The Company has completed approximately 2,500 metres of drilling and intends to complete an
additional 1,000 metres. The drilling has focussed on the Gnu Zone area and the Flood Zone with some
additional tests on nearby targets. The exploration team has also made significant progress on field
reviews of the extensive pipeline of prospective targets and expects to allocate some drill meters to at
least one target by the end of the program.
A regional geochemical sampling effort is progressing on the Roma project with over 900 samples
collected. Final deliverables from Precision GeoSurveys Ltd have been received and are currently in the
process of data interpretation and are being used in the field. These airborne magnetometry surveys
cover almost the entirety of Blue Star's landholdings in the High Lake Greenstone Belt.
Darren Lindsay, Blue Star's VP Exploration, stated: "I am encouraged to see that our regional and
prospect level work is generating new targets to drill evaluate in future programs. Our pipeline has been
very bottom heavy and with this work we will see key targets moving up to the drill ready stage."
Discussion of results
DRILLING
DD22-FLO-001 intersected
6.52 g/t over 17.4 m,
and 7.62 g/t over 3.0 m,
in an area of the Flood
Zone where previous drilling ended in the mineralised zone at the very edge of the resource model
.
These results appear to leave the Flood Zone open at shallow depths to the southeast.
These
intercepts are within a structurally disrupted zone between a high Fe-Ti basalt unit and lower Fe-Ti basalt
unit immediately adjacent to the sediment fold hinge.
Gnu Zone area targets that have been drill evaluated so far this season have provided mixed results with
numerous brittle faults observed in drill core adjacent to the alteration and polymetallic veins. Two types
of mineralisation are being tested: silicified acicular arsenopyrite mineralisation with local visible gold
and quartz veins bearing pyrrhotite, pyrite, chalcopyrite and sphalerite with local visible gold. Assays
from the majority of the drill holes are pending.
Central-C drilling is evaluating on strike of
5.21 g/t gold over 3.0 m
returned from previously drilled hole
21BSG-010. These holes are to determine continuity in the target that has been previously evaluated to
a vertical depth of approximately 300 metres. Assays are pending form these drill holes.
REGIONAL GEOCHEMISTRY
The Roma project covers a 40 km long portion of the High Lake greenstone belt along the regional
Kennarctic shear zone. A regional scale geochemical survey of till sampling with 1000m line spacing
and 50m sample spacing is on-going. To date 936 samples have been collected, processed and
analysed using the detectORE™ rapid low level gold method. Eight areas have been deemed worthy of
infill sampling and prospecting which is currently underway. These eight areas are all defined by
anomalous samples across at least two till lines and are all located in the central portion to the Roma
property which also hosts the historical Roma Main and Roma Fold target areas.
PIPELINE
Numerous prospects across the Ulu and Hood River properties have been reviewed by site evaluations,
mapping, and prospecting. The more interesting sites reviewed to date include north of the Zebra
prospect where the Ulu anticline is very tightly folded with broad alteration and mineralised zones
occurring within the sediments and at the contacts with more competent basalt and gabbro units. The Ulu
West area with a well exposed vein and good historical sample values is also of interest as is the Gravy
prospect with a newly discovered extension 10-15 metres wide and 200-300 metres long. Rock samples
from this on-going work have been submitted regularly for analysis with all results pending.
The use of the detectORE™ process on selective soils (frost boil samples) and weathered rock samples
has highlighted areas for additional follow-up including the Gravy prospect, and the Zebra/Mistake/Dagg
trend of showings as well as two locations on the Roma Project. Use of this approach is being expanded
due to the rapid nature of the results.
Figure 1: DD22-FLO-001 core photo of the majority of the 17.4 m of 6.52 g/t Au interval; grades listed on
core.
To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/2421/134016_c969a975b44c7b0d_003full.jpg
Figure 2: Table of drill collar locations for holes reported in this release.
To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/2421/134016_fig2.jpg
Figure 3: Table of results to date.
To view an enhanced version of Figure 3, please visit:
https://images.newsfilecorp.com/files/2421/134016_fig3.jpg
Figure 4: Plan map of drill holes and progress.
To view an enhanced version of Figure 4, please visit:
https://images.newsfilecorp.com/files/2421/134016_c969a975b44c7b0d_006full.jpg
Figure 5: Plan map showing the prospects in the pipeline reviewed to date.
To view an enhanced version of Figure 5, please visit:
https://images.newsfilecorp.com/files/2421/134016_c969a975b44c7b0d_007full.jpg
Blue Star'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.
DetectORE™ Process
DetectORE™ is a new rapid geochemical analysis technique developed by Portable PPB Pty Ltd to be
used at exploration sites. It enables rapid remote on-site gold results to ~20 ppb Au levels daily, instead
of weeks to many months for each batch. Regional geochemical samples (1000m x 50m grid) consisting
of till samples collected from frost boils are sieved to <1 mm to capture approximately 2kg of material;
samples are dried with a 500 gram split used in the analysis technique which includes final reading of
the sample collector devices by pXRF, reject material was also analyzed by pXRF for multi-element
review and retained. The QP has ensured the QAQC program of detectORE™ includes two reference
materials per processing batch (90 samples) and at least two certified collector devices are analyzed
during the analysis stage. Additionally, the Company inserted one blank, one duplicate, and one known
anomalous sample into the initial processing batches.
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:
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
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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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