Blue Star Intercepts 17 Metres of Semi-to- Massive Sulphides in a New Discovery on the Roma Project
Blue Star Intercepts 17 Metres of Semi-to-
Massive Sulphides in a New Discovery on the
Roma Project
Vancouver, British Columbia--(Newsfile Corp. - July 24, 2024) -
Blue Star Gold Corp. (TSXV: BAU)
(OTCQB: BAUFF) (FSE: 5WP0) ("Blue Star" or the "Company")
announces a new critical mineral
discovery (HI) on its Roma Project in the Kitikmeot region of Nunavut (Figure 1).
Highlights of the Current Exploration Program
Inaugural critical minerals exploration program in the prospective High Lake Greenstone Belt
First Blue Star drill hole assessing the HI VMS target intercepted a 17.1-metre interval of semi-to-
massive sulphide mineralization (Figure 2); assays are pending
Follow-up drilling is underway to assess the large target zone
Drilling continues at gold targets on the Company's Ulu Project, including Mikigon and Nutaaq
Grant Ewing, CEO of Blue Star, stated, "Due to the abundance of mineral showings throughout our
prospective landholdings, the current exploration program is assessing both critical mineral and gold
targets. The first drill hole on the HI target has potentially resulted in an exciting new base metal
discovery. Our team is very encouraged by similarities in the drill core to MMG's High Lake deposit,
located ~12 kilometres to the south. Follow-up drilling is underway, and we look forward to assay results
which are expected in August. The proposed Grays Bay Road, a major infrastructure development in
Nunavut that is currently undergoing permitting, is located only 6 kilometres to the east of the HI
discovery."
Discussion of HI Results
Fieldwork confirmed the presence of massive sulphide mineralisation in a surface gossan occurring in
felsic volcanic rock. Sampling of sub-cropping massive sulphide mineralisation hosting a 0.6-metre-wide
section of massive sphalerite returned 17.75% zinc ("Zn"). A fixed loop electromagnetic survey ("EM")
was subsequently completed identifying a strong conductor, with a resulting Maxwell-modelled plate
measuring 320 metres
x 100 metres in size, plunging north approximately 180 metres below the surface
(Figure 3). The gossan and surface sampling are located up-dip, and ~200 metres south of the strong
conductor.
The initial drill hole targeting the HI conductor was completed to a depth of 291 metres. Rock units
encountered include the overlaying Proterozoic diabase sill, a late Archean granitoid unit, and a
package of sericite-altered felsic tuffs hosting a seventeen (17) metre zone of stringer to massive
sulphide mineralisation. Within the mineralised zone, a 1.7-metre interval of massive sphalerite and
buckshot pyrite, and a 1.3-metre interval of massive pyrrhotite with chalcopyrite were intersected (Figure
2). The mineralised section is co-incident with the modeled strong conductor. Follow-up drilling is
underway.
Noranda first identified the area in 1975 and drilled two shallow holes beneath the main gossan the
following year. The 1976 holes intersected stringer to massive sulphide mineralization with sub-ore
grades (Assessment Report 08558), and Noranda subsequently dropped the claims.
Comparison to the High Lake Deposit West Zone
The High Lake VMS deposit, located approximately 12 kilometres to the south-southeast of HI, is
comprised of the A/B, D, and West Zones. Of particular interest is the West Zone, the most recent VMS
discovery in the High Lake Belt, as it was also a blind discovery based on a strong EM conductor. The
West Zone discovery hole was a 19.4-metre stringer to massive sulphide interval grading 3.85% copper
("Cu"), 1.38% Zn, 0.89 gram per tonne ("g/t") gold ("Au"), and 104 g/t silver ("Ag"). The resource of the
West Zone is approximately 9.1 Mt of 1.97% Cu, 4.4% Zn, 0.42% lead ("Pb"), 1.29 g/t Au, and 96 g/t Ag.
(The Northern Miner, January 23, 2006). The High Lake VMS deposit hosts ~14 Mt grading 2.5% Cu,
3.8% Zn, 0.4% Pb, 84 g/t Ag, and 1.3 g/t Au (MMG Mineral Resources and Ore Reserves Statement 30
June 2023). There is no guarantee that the results of the HI VMS discovery will be similar to those of the
High Lake Deposit West Zone or that continued exploration will result in the definition of an economic
resource.
Exploration Program Progress and Next Steps
The 2024 exploration drilling program is ongoing. Drilling continues at gold targets on the Ulu Project
(Mikigon, Nutaaq) and the HI discovery. The next steps for the gold component of the current drill
program will be assessing other targets in the Flood Zone area, and the Central and Zebra Zones. To
date, ~1,725 metres of the planned drill program have been completed.
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. Drill samples follow the same procedures
.
Gray's Bay Road and Port Project (GBRPP)
The project envisions a deepwater port built on Coronation Gulf and a road connecting Nunavut to the
Northwest Territories. The proposed all-season road would travel within and immediately adjacent to
Blue Star's projects, providing excellent accessibility. This future access will dramatically lower the
operating costs in the region, connect Northern products to markets around the world, and enable
supplies to reach the area at a lower cost, for a longer season, and with greater reliability.
Figure 1: Blue Star Projects and New HI Discovery.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2421/217551_7ef74b2824a88944_003full.jpg
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2421/217551_bluestar.jpg
Figure 3: HI Discovery: Oblique View of Maxwell Plate Target and Proposed Drill Holes.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2421/217551_7ef74b2824a88944_014full.jpg
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 mineral exploration and development company focused in Nunavut, Canada. Blue Star's
landholdings total 270 square kilometres of highly prospective and underexplored mineral properties in
the High Lake Greenstone Belt. The Company owns the Ulu Gold Project, comprised of the Ulu Mining
Lease and Hood River Property, and the Roma Project. A significant high-grade gold resource exists at
the Flood Zone deposit (Ulu Mining Lease), and numerous high-potential exploration targets (gold and
critical minerals) occur throughout the Company's extensive landholdings, providing Blue Star with
excellent resource growth potential. 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
close by the Roma and Ulu Gold 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
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 the 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, 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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/217551