Blue Star Gold Corp. (TSXV: BAU) (FSE: 5WP) (“Blue Star” or the “Firm”) pronounces the ultimate assay outcomes from the 2020 exploration program at its Ulu and Hood River properties. The properties are situated roughly 525 km NNE of Yellowknife, NT within the Kitikmeot area of western Nunavut. Kugluktuk is roughly 210 km to the NW.
7,621 metres have been drilled in thirty-eight diamond drill holes throughout the 2020 program.
Ten holes have been drilled on the Ulu and Gnu Zone deposits to broaden identified assets and supply information for useful resource modeling, and twenty-eight holes have been drilled to check exploration targets on each the Ulu and Hood River properties, together with fourteen within the North Fold Nostril (NFN) Zone.
Assay outcomes for the ultimate seventeen holes and the steadiness of assays from two beforehand reported holes are included on this information launch, in addition to an general abstract of the 2020 program.
Spotlight gold assay outcomes for the Flood Zone (BS2020ULU-005) reported immediately embody:
14.95 g/t Au over 13.8 m (higher zone) from 426.2 – 440.0 m; and,
9.65 g/t Au over 6.00 m (decrease zone) from 459.0 – 465.0 m.
See Tables 1 and a pair of under for a abstract of the outcomes for the holes reported immediately, and Desk 3 for a abstract of all spotlight gold composites for the 2020 program.
Subsequent Steps, Upcoming Milestones:
A complete GIS compilation of all technical information for the tasks is ongoing, which is able to result in an up to date geologic mannequin for the Flood and Gnu Zone deposits.
An up to date useful resource estimate for the tasks is deliberate to observe the compilation famous above; along with the Flood and Gnu Zone deposits, it’s anticipated that adequate information shall be accessible to finish an preliminary useful resource estimate for the NFN Zone.
Ulu and Hood River Properties Overview:
The Ulu lease and the contiguous Hood River property collectively embody roughly 9,000 hectares of extremely potential exploration floor. The Ulu lease hosts the superior stage Flood and Gnu Zone gold deposits, the place a big high-grade gold useful resource has been outlined. A number of extra gold zones (together with NFN, Zebra, Bizen, Apex and Contact Zones) are spatially associated to the axis of the ~5 km lengthy Ulu regional fold which extends from the Ulu lease onto the north Hood River property (see Determine 1). The Hood River property is contiguous to the Ulu lease to the north, east and south, and hosts over twenty identified gold showings (see Determine 1). Lots of the high-priority goal areas exterior of the Flood Zone have solely been examined with comparatively shallow drilling, and the potential all through the properties to host new discoveries at depth is taken into account excessive.
2020 Exploration Program Abstract Highlights:
The 2020 exploration program entailed 7,621 metres of diamond drilling in thirty-eight diamond drill holes on the Ulu and Hood River properties. Beneath is an general abstract of this system, together with diamond drill holes that have been reported in earlier information releases (see information releases dated September 30 and October 28, 2020).
The 2020 drill program on the Flood Zone comprised six drill holes (BS2020-ULU-001 to BS2020-ULU-006). The aim of the drilling was to offer extra geologic data and make sure sure elements of the geologic mannequin of the deposits, to enhance drill gap density and to permit for potential upgrading of the useful resource class. Drill gap BS2020-ULU-005 (reported immediately) examined inferred useful resource blocks at a vertical depth of roughly 400 metres. The opening intercepted a sequence of mineralized zones from a downhole depth of 425.0m to 469.0m together with 14.95 g/t Au over 13.80m (426.20 – 440.0m) and 9.65 g/t Au over 6.0m (459.0 – 465.0m). The azimuth and dip of the opening at this intercept level is roughly 242 and -62 levels respectively. Mineralization happens as positive to coarse grained disseminated arsenopyrite together with positive grained pyrrhotite, pyrite and chalcopyrite related to smoky quartz veins inside a calc-silicate alteration envelope. Earlier modelling signifies that the Flood Zone is close to vertical within the space of BS2020-ULU-005’s intercepts. The outcomes of this gap doubtlessly permits for an enchancment within the useful resource grade and a change of the useful resource class from inferred to indicated standing on this space. Holes BS2020-ULU-001 to 004 and 006 have been reported beforehand (see information releases dated September 30 and October 28, 2020).
The Gnu Zone, which is 700m north of the Flood Zone, may be traced over roughly 625 metres in a NW-SE route. Mineralization usually happens as finely disseminated acicular arsenopyrite related to pervasive calc-silicate alteration, just like that discovered within the Flood Zone. Polymetallic quartz veins are additionally current within the Gnu Zone. The excessive grade gold mineralization intersected in BS2020ULU-007 (52.7 g/t Au over 2m, see information launch dated October 28, 2020) has a polymetallic signature with highs of 0.8% Pb, 0.7% Zn, 57.5 ppm Ag and anomalous bismuth. BS2020ULU-007 was collared 30m east of historic gap 92VD161 (14.7 g/t Au over 3.22m from a polymetallic quartz vein). Subsequent drill holes BS2020ULU-008 via BS2020ULU-010, which have been drilled within the neighborhood of BS2020ULU-007 and 92VD161, didn’t intersect vital gold values. The geometries of the totally different kinds of mineralization current haven’t but been resolved with the restricted quantity of drilling (20 holes totalling 2,167m) accomplished up to now. The geologic mannequin for the Gnu Zone is deliberate to be up to date as a part of the property large information evaluation and compilation program underway.
On the Contact Zone, which is roughly 1.8 km north of the Flood Zone, mineralization happens in quartz veins and stockworks, and sulphide alternative zones. The vein-type is related to haloes of pervasive sericite ±silica altered basalt with pyrrhotite, arsenopyrite, pyrite and arsenopyrite. The very best mineralization intersected within the two holes drilled in 2020 was 3.96 g/t Au over 1.0m in gap BS2020ULU-011.
Hood River North:
The 2020 drill program examined targets alongside the east limb of the Ulu anticline together with the NFN, INT, Bizen, and Apex Zones. The fold limb is expressed as a topographic break coincident with the steeply east dipping contact between basaltic volcanic and biotite-cordierite metasedimentary rocks.
On the NFN Zone, fourteen drill holes (HR20-13 to HR20-26) have been drilled in an space 215 metres lengthy by 100 metres large to a most depth of 180 metres from floor. The NFN Zone is a south dipping synform with mineralization centered alongside a shear zone dividing basaltic volcanics and biotite-cordierite schists. Anomalous gold values happen in quartz-carbonate-sericite-pyrrhotite-arsenopyrite-chalcopyrite shear vein fillings. An envelope of biotite and calc-silicate alteration extends tens of metres into the hanging wall basalts. All of the holes drilled on the NFN intersected the focused construction and 12 out of 14 returned vital gold grades. The mineralized intervals have been usually between 2 and 4 metres large. Increased grade intercepts included 13.87 g/t Au over 3.00m (HR20-17) and 13.18 g/t Au over 2.00m (HR20-13). Solely 2 drill holes (HR20-19 and HR20-26) didn’t return anomalous gold values. These two holes examined the northwestern and southern boundaries of drill protection and intersected the focused contact, nevertheless, solely reasonable silicification and traces of arsenopyrite was noticed. It’s anticipated that the outcomes of the 2020 exploration program will present sufficient information to finish the primary useful resource estimate for this Zone (see information releases dated September 30 and October 28, 2020 for extra outcomes).
The INT Zone is situated between the NFN and Bizen Zones alongside the east limb of the Ulu anticline. Channel sampling performed in 2019 resulted in a single pattern grading 25 g/t Au (Y622120). Observe up drilling in 2020 included two drill holes, HR20-27 and HR20-28. A one metre interval of anomalous gold in HR20-27 happens in a shear zone containing medium grained pyrrhotite and pyrite altered with patchy actinolite and biotite.
One gap on the Bizen Zone (Gap HR20-29) was drilled to check for mineralization close to the contact between mafic volcanics and metasediments. Gold-bearing mineralization is hosted in a unit of basaltic tuffaceous metagreywacke. Anomalous gold values are localized to skinny, usually lower than 10 cm, quartz-calc-silicate veins with medium-course grained pyrrhotite, chalcopyrite and arsenopyrite. Patchy biotite alteration extends a number of metres outward from and is overprinted by sericite proximal to the gold-bearing veins.
The Apex Zone is situated 350 – 700 metres north of the Contact Zone. It’s characterised by two zones of discontinuous gossans that merge towards the north. Mineralization happens as quartz veins related to biotite ±silica alteration and enriched in biotite, chlorite and minor actinolite. Mineralization encountered throughout the present program was usually weak and consisted of minor pyrite and arsenopyrite in slender stringers that are inclined to parallel the regional, north-south oriented construction. Three diamond drill holes have been accomplished within the space throughout this system to check sulphide bearing calc silicates and to enhance the geological data on the goal. The best-grade gold mineralization was intersected in HR20-032 (3.53 g/t Au over 2.00m).
Hood River East:
The Hood River East property holes have been designed to check early-stage targets all through the extremely potential property. The promise of the Hood River East floor stems from the truth that it shares the identical deformation historical past (together with tight folding) and the identical volcano-sedimentary stratigraphic sequences because the Flood Zone.
On the Crown displaying, mineralization happens as quartz veins and sulphide alternative zones and stockworks. The veins are related to haloes of pervasive biotite ±silica alteration and comprise sulphides (predominantly pyrrhotite with minor quantities of pyrite and arsenopyrite). The basalt is reasonably to strongly altered. Three diamond drill holes have been accomplished to check mineralization close to the volcanic and metasediments contact. The best-grade gold mineralization was intersected in HR20-033 (2.33 g/t Au over 2.00m). The possible hint of the north trending fold axis, which hyperlinks the Crown displaying to the Professional Zone 4 km to the north, stays untested.
On the PC displaying within the Penthouse Lake space, mineralization happens in sediment-hosted polymetallic quartz veins inside large sulphide lenses proximal to a mafic volcanic-sediment contact. Three diamond drill holes have been accomplished right here. The best-grade gold assay of two.53 g/t Au over 0.95m (HR20-038 20.0 to twenty.95m) was returned from a zone of large sulphides with quartz veining. Base metallic values on this zone included highs of 9.6% Zn, 0.4% Cu and 0.9% Pb over 0.55m (20.95 to 21.50m).
Desk 1. Ulu Property Gold Assay Outcomes Reported As we speak:
|Gap ID||From (m)||To (m)||Width m||Au (g/t)||Feedback|
|BS2020ULU-008||NSV||No Important Worth|
|BS2020ULU-009||NSV||No Important Worth|
|BS2020ULU-010||NSV||No Important Worth|
Desk 2. Hood River Property Gold Assay Outcomes Reported As we speak:
|Gap ID||From (m)||To (m)||Core Size (m)||Au (g/t)||Remark|
|HR20-026||NSV||No Important Worth|
|HR20-030||NSV||No Important Worth|
|HR20-034||NSV||No Important Worth|
* Intervals listed within the above tables are core size, and never true width. All assay values are uncut. ** These intervals have been reported with outcomes from HR20-022 within the information launch dated Sept. 30, 2020.
Desk 3. Spotlight Gold Composites from 2020 Program on Ulu and Hood River Properties:
|Gap ID||Zone or Goal||From(m)||To(m)||Width (m)||Au (g/t)|
* Composite intervals listed within the above desk are core size, and never true width. All assay values are uncut.
Desk 4: Ulu Undertaking Diamond Drill Gap Abstract:
|Gap Title||Undertaking Title||Goal Title||Azimuth||Dip||Complete Metres Drilled|
Desk 5: Hood River Undertaking Diamond Drill Gap Abstract:
|Gap Title||Undertaking Title||Goal Title||Azimuth||Dip||Complete Metres Drilled|
|HR20-013||HOOD RIVER PROJECT||NFN||40||-55||126|
|HR20-014||HOOD RIVER PROJECT||NFN||40||-73||151|
|HR20-015||HOOD RIVER PROJECT||NFN||240||-79||181|
|HR20-016||HOOD RIVER PROJECT||NFN||240||-58||210.5|
|HR20-017||HOOD RIVER PROJECT||NFN||240||-45||215|
|HR20-018||HOOD RIVER PROJECT||NFN||67||-86||211|
|HR20-019||HOOD RIVER PROJECT||NFN||67||-73||164|
|HR20-020||HOOD RIVER PROJECT||NFN||67||-55||154|
|HR20-021||HOOD RIVER PROJECT||NFN||67||-76||148|
|HR20-022||HOOD RIVER PROJECT||NFN||67||-88||163|
|HR20-023||HOOD RIVER PROJECT||NFN||67||-85||109|
|HR20-024||HOOD RIVER PROJECT||NFN||40||-60||120.5|
|HR20-025||HOOD RIVER PROJECT||NFN||246||-70||101|
|HR20-026||HOOD RIVER PROJECT||NFN||245||-48||133|
|HR20-027||HOOD RIVER PROJECT||INT||356||-45||100|
|HR20-028||HOOD RIVER PROJECT||INT||356||-70||145|
|HR20-029||HOOD RIVER PROJECT||BIZEN||90||-45||314|
|HR20-030||HOOD RIVER PROJECT||APEX||290||-45||300.7|
|HR20-031||HOOD RIVER PROJECT||APEX||180||-45||161|
|HR20-032||HOOD RIVER PROJECT||APEX||180||-75||111.5|
|HR20-033||HOOD RIVER PROJECT||CROWN||45||-45||149|
|HR20-034||HOOD RIVER PROJECT||CROWN||45||-85||89|
|HR20-035||HOOD RIVER PROJECT||CROWN||290||-55||152|
|HR20-036||HOOD RIVER PROJECT||SOUTH PENTHOUSE||15||-60||107|
|HR20-037||HOOD RIVER PROJECT||SOUTH PENTHOUSE||15||-87||46|
|HR20-038||HOOD RIVER PROJECT||SOUTH PENTHOUSE||1||-70||62|
Determine 1. Ulu and Hood River Properties
To view an enhanced model of Determine 1, please go to:
QA/QC Program for the 2020 Exploration Work:
All drill core was logged and sampled in safe core processing buildings situated on the Ulu or Hood River camps. Drill core samples have been collected by both slicing the core in half utilizing diamond saws or by splitting the core in half utilizing hydraulic core splitters. Along with the QA/QC protocols of ALS World, the Firm maintains its personal program of inserting Normal Reference materials within the type of requirements and blanks into the sampling stream, previous to being shipped to ALS’s preparation facility in Yellowknife.
Historical past and Geology of the Ulu and Hood River Gold Properties:
The properties are situated roughly 525 km NNE of Yellowknife, NT within the Kitikmeot area of western Nunavut. Kugluktuk is roughly 210 km to the NW.
The Ulu property consists of a renewable 21-year mining lease and covers an space of roughly 947 ha. The lease hosts a complicated gold venture that between 1989 and 2012 noticed vital exploration and improvement by BHP Minerals and Echo Bay Mines, amongst others. The previous work consists of roughly 1.7 km of underground improvement and roughly 405 diamond drill holes that produced 97,820 m of core (Ulu and Hood River). The Flood Zone incorporates the majority of the Ulu gold useful resource and is open on-strike and at depth. General assets of two.50 million tonnes grading 7.53 g/t Au for 605,000 gold ounces (measured & indicated class) and 1.26 million tonnes grading 5.57 g/t Au for 226,000 gold ounces (inferred class) have been estimated for the Flood and Gnu Zones (seek advice from “Technical Report on the Ulu Gold Property, Nunavut, Canada” dated July 10, 2015). The deepest intersection of mineable width on the Flood Zone is 14.9 g/t Au over 7.7 m in BHP’s drill gap 90VD-75 at 610 m under floor. Metallurgical testing on the Flood Zone gold mineralization has proven that gold is recoverable in quantities larger than 90% by gravity, flotation and cyanidation.
The Hood River property is contiguous to the Ulu lease to the north, east and south. The property is held via a renewable, 20-year Mineral Exploration Settlement with Nunavut Tunngavik Integrated. The extremely potential property encompasses 8,015 ha. A minimum of 22 identified gold showings have been recognized on the property. The exploration goal for the property is shear-hosted gold mineralization just like the Flood Zone on the adjoining Ulu lease.
A sequence of gold occurrences happen on-strike and north of the Flood Zone and are regarded as associated to the ~5 km lengthy Ulu regional fold that extends from the Ulu lease onto the north Hood River property culminating on the NFN Zone. This construction extends from the Flood and Gnu Zones alongside the Ulu fold to the north and hosts no less than 5 gold zones along with the Flood and Gnu Zones (NFN, INT, Bizen, Apex and Contact Zones).
Gossanous auriferous rocks hosted inside mafic volcanic models at or near the contact with meta-greywacke rocks happen alongside the Ulu fold development. The gold mineralization is usually enveloped by an alteration halo of biotite-actinolite-quartz. The mineralized zones are believed to be the results of brittle-ductile failure brought on by regional stresses throughout totally different deformation levels. Alongside sedimentary-volcanic contacts, regional folding inflicting shearing, as a result of lithological competency contrasts, resulted in minor dilatancy. These dilatational zones have been in-filled with the gold-arsenic-rich hydrothermal fluids. Mineralization exhibits pinch and swell model.
A number of high-grade gold occurrences additionally happen on the east Hood River property, together with the Crown and Penthouse Zones, the place extra gold traits could exist. As well as, many unnamed gold occurrences exist on the 2 properties, the place additional prospecting is required to advance the showings to focus on zones. The big variety of high-grade gold showings that happen all through the properties present for wonderful useful resource enlargement potential at a number of targets.
Supplementing the high-grade gold assets, the Ulu venture features a substantial stock of capital gear, a camp with store and a 1,200 m lengthy airstrip. The positioning of the long run deep-water port at Grays Bay is 100 km to the north of the properties, and the proposed route hall for the all-weather Grays Bay street passes in shut proximity to the Ulu and Hood River tasks.
Ulu Useful resource Estimate:
|Classification||Gold||Tonnage||Gold Grade||Gold Contained|
|Measured & Indicated||> 4.0||2,500,000||7.53||605,000|
|Complete – Flood and Gnu Zones|
|Measured & Indicated||> 4.0||2,500,000||7.53||605,000|
Notes to the Useful resource Estimate
- Mineral assets which aren’t mineral reserves would not have demonstrated financial viability. The estimate of mineral assets could also be materially affected by environmental, allowing, authorized, title, taxation, socio-political, advertising, or different related points.
- Confidence within the estimate of Inferred Mineral Sources is inadequate to permit the significant utility of technical and financial parameters. There isn’t a assure that each one or any a part of a mineral useful resource can or shall be transformed right into a mineral reserve.
- The mineral assets on this estimate have been calculated utilizing the Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”), CIM Requirements on Mineral Sources and Reserves, Definitions and Pointers ready by the CIM Standing Committee on Reserve Definitions and adopted by CIM Council.
- The reliability and accuracy of downhole surveys in 188 of 313 drill holes within the useful resource space are in query as a result of their lack of correct measurements. For these holes, the QPs have imposed a mean demonstrated predictability of drill gap deflection which can be current in holes on the property that do have correct downhole measurements. Within the opinion of the QPs, this can be a extra cheap assumption than assuming straight line drill holes.
- The next parameters have been used to derive the cut-off: CA$100/t mining prices, CA$25/t processing prices and CA$10/t G&A; transporting gravity and flotation focus to the Lupin to supply dore with a CA$25/t transport price; CA$1500/ozgold worth; course of recoveries of 90%, smelter payables of Au at 96% and refining prices of Au CA$12/oz.
- The Firm filed its technical report, titled “Technical Report on the Ulu Gold Property, Nunavut, Canada” dated July 10, 2015 from which the desk of assets was taken. Gary Giroux, P.Eng. of Giroux Consulting Inc., Bob Singh, P.Geo. of North Face Software program Ltd. and Paul Cowley, P.Geo. of Buena Tierra Developments Ltd., are Certified Individuals as outlined in NI 43-101 and have been answerable for the preparation of the Technical Report.
- An up to date useful resource estimate is deliberate, as there are a number of new variables that apply, together with; gold worth, alternate charge, gas prices, and the truth that the Lupin minesite would now not be the processing web site.
Grant Ewing, P. Geo. is a Certified Individual beneath Nationwide Instrument 43-101 (“NI 43-101”) and has reviewed and authorized the technical data contained on this information launch.
About Blue Star Gold Corp.
Blue Star is a Vancouver-based gold and silver firm centered on exploration and improvement inside Nunavut, Canada. The Firm owns the Ulu Gold Property lease, a complicated gold and silver venture, and the extremely potential Hood River gold concessions which can be contiguous with the Ulu mining lease. The mixed properties complete roughly 9,000 ha of potential mineral claims inside which the Firm has a big high-grade gold useful resource on the Ulu lease, and quite a few high-grade gold occurrences and precedence targets all through the Ulu and Hood River properties.
Blue Star is listed on the TSX Enterprise Trade beneath the image: BAU and on the Frankfurt Trade beneath the image: 5WP. For additional data on the Firm and its tasks, please go to our web site: www.bluestargold.ca.
For additional data, please contact:
Grant Ewing, P. Geo., CEO
Phone: +1 778-379-1433
Electronic mail: firstname.lastname@example.org
Neither the TSX Enterprise Trade nor its Regulation Companies Supplier (as that time period is outlined within the Insurance policies of the TSX-Enterprise Trade) accepts duty for the adequacy or accuracy of this Launch.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS AND INFORMATION
This press launch incorporates “forward-looking statements” throughout the which means of relevant securities legal guidelines. Ahead-looking statements may be recognized by phrases akin to: “anticipate,” “intend,” “plan,” “purpose,” “search,” “consider,” “venture,” “estimate,” “count on,” “technique,” “future,” “seemingly,” “could,” “ought to,” “will” and related references to future intervals. Examples of forward-looking statements embody, amongst others, statements we make relating to potential earnings and revenues, anticipated ranges of capital expenditures for fiscal 12 months, expectations of the impact on our monetary situation of claims, litigation, environmental prices, contingent liabilities and governmental and regulatory investigations and proceedings, and estimates of mineral assets and reserves on our properties.
Ahead-looking statements are neither historic info nor assurances of future efficiency. As an alternative, they’re based mostly solely on our present beliefs, expectations and assumptions relating to the way forward for our enterprise, future plans and techniques, projections, anticipated occasions and traits, the economic system and different future circumstances. As a result of forward-looking statements relate to the long run, they’re topic to inherent uncertainties, dangers and modifications in circumstances which can be troublesome to foretell and lots of of that are exterior of our management. Our precise outcomes and monetary situation could differ materially from these indicated within the forward-looking statements. Due to this fact, you shouldn’t depend on any of those forward-looking statements. Necessary components that would trigger our precise outcomes and monetary situation to vary materially from these indicated within the forward-looking statements embody, amongst others, the next: financial and monetary circumstances, together with volatility in curiosity and alternate charges, commodity and fairness costs and the worth of economic property, strategic actions, together with acquisitions and inclinations and our success in integrating acquired companies/our success in integrating the Ulu Gold Property into our operations, developments and modifications in legal guidelines and rules, together with elevated regulation of the mining trade via legislative motion and revised guidelines and requirements utilized by the regulatory our bodies in Nunavut, modifications within the worth of gas and different key supplies and disruptions in provide chains for these supplies, closures or slowdowns and modifications in labour prices and labour difficulties, together with stoppages affecting both our operations or our suppliers’ talents to ship items and providers to us, in addition to pure occasions akin to extreme climate, fires, floods and earthquakes or man-made or different disruptions of our gear, and inaccuracies in estimates of mineral assets and/or reserves on our mineral properties.
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