Blue Star's Flood Zone Drilling Returns 3.66 Metres of 8.46 g/t Gold on a New Structure, and Intercepts 2.01 Metres of 10.38 g/t Gold to Extend the Flood Zone
Blue Star's Flood Zone Drilling Returns 3.66
Metres of 8.46 g/t Gold on a New Structure,
and Intercepts 2.01 Metres of 10.38 g/t Gold to
Extend the Flood Zone
Vancouver, British Columbia--(Newsfile Corp. - October 3, 2024) -
Blue Star Gold Corp. (TSXV: BAU)
(OTCQB: BAUFF) (FSE: 5WP0) ("Blue Star" or the "Company")
provides an update on drill holes
evaluating a recently interpreted shallow dipping structure in the Flood Zone hanging wall and the initial
drill evaluation of the Mikigon prospect from its 2024 exploration program on the Ulu Gold Project in the
Kitikmeot region of Nunavut (Figure 1).
Highlights
Targeted Flood Zone structure returns 3.66 metres of 8.46 g/t Au including 1.00 metre of 15.25 g/t
Au
Extended Flood Zone with drillhole intercepts of 9.61 metres of 1.83 g/t Au including 1.36 metres
of 3.66 g/t Au, and 3.22 metres of 7.52 g/t Au including 2.01 metres of 10.38 g/t Au in a 30-metre
step-out from the existing resource model
Mikigon drilling indicates a pathfinder halo for the system that includes 1+ g/t Au intervals
associated with quartz veining, arsenopyrite and elevated bismuth and tellurium values
Grant Ewing, CEO of Blue Star, stated, "New ideas targeting around the Flood Zone have resulted in
some strong mineralization to add to our resource model with both the extension of the existing model
and a new model for a hanging wall zone. The Company conducted its first pass limited drill program
testing the Mikigon target that returned low grades however we now have drill core data to work with to
potentially lead to a discovery at this intriguing target."
Discussion of Results
Flood Zone
:
Two drill holes were drilled to test an interpreted flat vein structure in the hanging wall of the Flood Zone
identified by ALS-GoldSpot's 2023 review of the Ulu Gold Deposit. A total of 717 metres was completed
in the two drill holes evaluating the inferred structure targeting an average depth of 263 metres. Both drill
holes intercepted the inferred structure. These intercepts along with previous drill holes will define a new
mineralization zone for the Flood Zone resource model. See Table 1 for complete results.
DD24-FLO-001A collared in a greywacke unit followed by a gabbro with leucoxene alteration from 16.03
to 224.04 metres. A short interval of greywacke was observed from 224.04 to 226.15 metres, followed
by massive basalt which continued until the end of the hole at 315 metres.
Mineralized zones of interest include a 0.34 metre strongly altered and weakly mineralized zone within a
high zirconium, high iron, and titanium tholeiitic unit (Hi-Zr-Fe-Ti) returning 3.44 g/t Au. The targeted flat
vein was intersected at 273.28 to 273.96 metres returning 6.34 g/t Au in a strongly altered Hi Fe-Ti
basalt. Two weakly developed zones also occurred at 278.51 to 279.60 metres and 307.00 to 309.00
metres returning insignificant grades but having alteration that may indicate potential for better
mineralization along these structures (Figure 2).
DD24-FLO-002 collared in low strain medium to coarse grained gabbro with several narrow felsic dyke
intervals. The gabbro has a sharp and highly strained lower contact at 182.77 metres with an
interbedded greywacke and cordierite knotted schist unit. Below the sediments is a pillowed and
amygdular grey-green basalt from 196.12 to 345.31 metres, followed by a second sedimentary unit from
345.31 to 351.23 metres (greywacke). The gold intervals in this drill hole occur within the Hi-Fe-Ti unit
(broader lower grade) with the strongest grades occurring at the contact between the Hi-Fe-Ti and Hi Zr-
Fe-Ti units.
Mineralized zones of interest include a polymetallic vein, similar to those targeted at Nutaaq, from 42.55
to 43.22 metres that returned 0.59 g/t Au. The targeted structure was intersected from 259.39 to 263.05
metres, returning 3.66 metres of 8.46 g/t Au. An altered and mineralized section within the Hi-Fe-Ti flow
returned 5.00 metres of 1.50 g/t Au. An interval of 9.61 metres around the section of sediments in the Hi-
Fe-Ti unit returned 1.83 g/t Au with better grade occurring within the basalts at the contacts (5.70 g/t Au
over 0.32 metres and 5.73 g/t Au over 0.38 metres). Veining at the contact of the Hi-Fe-Ti and the Hi-Zr-
Fe-Ti units returned 3.22 metres of 7.52 g/t Au including 2.01 metres of 10.38 g/t Au (Figure 2)
Next steps include revising the Flood Zone deposit geological model and extending and creating
mineralization shells to determine impacts from this drilling to the current resource model.
Mikigon Prospect
:
An initial program of pole-dipole Induced Polarization ("IP") was completed over the Mikigon target
along east-west lines spaced 150 metres apart, covering the trace of a weak magnetic signature
coincident with the outcropping mineralized zone identified in 2023 that extends for 600 metres to the
north where it is overlain by glacio-fluvial sediment. The survey identified moderate to strong
chargeability anomalies on each line 50-100 metres below the surface (NR June 18, 2024). A 570-metre
drill program of three holes was undertaken, testing below the Mikigon high grade surface showing with
two drill holes, and one step out hole 100 metres to the north.
See Table 1 for complete results.
The initial drill hole (DD24-MIK-001) tested 60 metres below the 47.1 g/t Au surface rock sample and
was drilled into the IP chargeable zone to a total depth of 168 metres. The hole encountered folded
interbedded cordierite-andalusite schist and greywacke hosting rare, weakly mineralized (pyrrhotite >
pyrite) quartz veins, with a paucity of alteration. 1.92 g/t Au occurs from 93.20 to 94.20 metres, in an
interval of cm-scale quartz veins with massive pyrite. The chargeability anomaly is attributed to fine
grained disseminated pyrrhotite hosted by the sedimentary rocks.
The second drill hole (DD24-MIK-002) was drilled from the same pad with a steeper dip under the first
hole to a depth of 201 metres. It intersected folded interbedded cordierite-andalusite schist and
greywacke hosting cm-scale grey, translucent sulphide-bearing quartz veins and metre-scale white
quartz veins. From 21.00 to 22.17 metres, an interval of sedimentary rock with a cm-scale grey
translucent quartz vein returned 1.44 g/t Au. From 59.88 to 61.00 metres, 1.73 g/t Au was returned from
a 1.12 metre interval of folded cm-scale quartz veins. A wider zone from 74.27 to 79.38 metres
containing 0.73 metres of 1.37 g/t Au (from 74.27 to 75.00 metres) and 1.38 metres of 1.66 g/t Au (from
78.00 to 79.38 metres) was returned from grey translucent cm-scale quartz veins, locally containing trace
pyrite mineralization.
The third drill hole (DD24-MIK-003) tested below a 5.42 g/t Au surface sample along the Mikigon trend
while simultaneously investigating the source of a shallow EM anomaly and drilling into the deeper IP
chargeability anomaly. The hole was drilled to 201 metres and intersected folded interbedded cordierite-
andalusite schist and greywacke. An interval from 61.05-62.13 metres returned 1.08 metres of 2.05 g/t
Au from cm-scale quartz veins. A second interval from 93.00-93.71 metres returned 3.59 g/t Au from an
interval containing deformed quartz veins with 5% sulphides (pyrrhotite-pyrite>arsenopyrite) and chlorite
alteration.
Although gold intervals are lower grade and narrow, the assay data indicates that gold occurs within a
corridor of interest defined by elevated bismuth, tellurium and arsenic ("Bi-Te-As"). The next steps are to
integrate structural modeling to target dilational zones coincident with the geophysical and geochemical
trends along the extensive Mikigon structure.
Exploration Program Progress and Next Steps
Assay results are being reviewed, interpreted and released as they come available. After receipt of all
assay data from the current program, deposit modeling will be conducted with the compiled field data
and results to determine impacts to the resource base, pipeline target prioritisation and pre-planning for
2025. Incremental work this season is expected to lead to future discoveries to grow our resource base
of both gold and base metals across the Ulu Project and Roma Project in the Kitikmeot Region of
Nunavut.
Figure 1: Blue Star Projects and New Ataani Discovery.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2421/225436_df515bc3543a4ac6_003full.jpg
Figure 2: Vertical Cross Section Looking Northwest; DD24-FLO-001A is Located
Approximately 30 Metres Along Strike to the Northwest of DD24-FLO-002.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2421/225436_df515bc3543a4ac6_006full.jpg
Table 1: Drill Results for Flood Zone and Mikigon.
Hole ID
From (m)
To (m)
Length (m)
Au g/t
Notes
DD24-FLO-001A
273.28
273.96
0.68
6.34
shallow dipping vein
DD24-FLO-002
42.54
43.65
1.11
0.59
Polymetallic vein
and
259.39
263.05
3.66
8.46
shallow dipping vein
includes
1.00
15.25
and
279.05
284.05
5.00
1.50
new zone developing?
and
343.19
352.80
9.61
1.83
new zone developing?
includes
1.36
3.66
and
368.49
371.71
3.22
7.52
extends existing zone
includes
2.01
10.38
DD24-MIK-001
93.20
94.20
1.00
1.92
within Bi-Te elevated zone
DD24-MIK-002
21.00
22.17
1.17
1.44
and
59.88
61.00
1.12
1.73
margin of Bi-Te + As elevated zone
and
74.27
75.00
0.73
1.37
within 6 m Bi-Te + As elevated zone
and
78.00
79.38
1.38
1.66
within 6 m Bi-Te + As elevated zone
DD24-MIK-003
61.05
62.13
1.08
2.05
within 3 m Bi-Te + As elevated zone
and
93.00
93.71
0.71
3.59
within 2 m Bi-Te + As elevated zone
Drill samples are one half from sawn NQ sized drill core delivered 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 drilling consists of regular
insertion of certified reference materials (CRMs) resulting in a 20% insertion rate.
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.
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