Blue Star Gold starts drilling with a second rig on its Nunavut properties at the Flood Zone
22 July 2020
News Release: Vancouver, British Columbia--(Newsfile Corp. - July 22, 2020) - Blue Star Gold Corp. (TSXV: BAU) (FSE: 5WP) (the "Company") announces that it has commenced drilling with the second drill rig as part of its 7,000m drill program on its Hood River and Ulu properties, located in the Kitikmeot Region of Nunavut.
Drill Rig number one has completed 5 holes for 833.5 metres of drilling as of yesterday morning at the North Fold Nose Zone while Drill Rig number two has now begun drilling at the Flood Zone on the company's adjacent Ulu Mining lease. Drill Rig number two will be targeting identification of additional gold mineralization in the Flood Zone and thereafter in the Gnu Zone.
The Flood Zone's most recent resource estimate was authored by P. Cowley P.Geo. R.(Bob).Singh P.Geo and G. Giroux P.Eng. and was titled "Technical Report on the Ulu Gold Property Nunavut Canada dated July 10, 2015. Using a gold cut-off grade of 4 grams per tonne ("g/t"), the overall resources at the Flood Zone were reported as 2.50 million ("M") tonnes grading 7.53 g/t Au for 605,000 gold ounces in the Measured and Indicated Categories and 1.26M tonnes at a grade of 5.57 g/t Au for 226,000 Au ounces in the Inferred Category. The Ulu gold resource is open on-strike and at depth.
The summer drill program will be testing several other gold targets that occur along Blue Star's recently identified Robb Trend that hosts seven or more significant gold occurrences on its 5 km long strike. Included in this trend is the Gnu Zone which has an estimated inferred Resource of 370,000 tonnes grading at 5.57 g/t gold for 66,000 oz. The Gnu Inferred Resource was taken from the "Technical Report on the Ulu Gold Property Nunavut Canada dated July 10, 2015", authored by P. Cowley P.Geo. R. (Bob). Singh, P.Geo and G. Giroux P.Eng..
Peter Kuhn, Interim CEO comments: "We are very pleased to have started drilling with the second rig. We look forward to expanding the existing resources as well as identifying additional gold zones in the newly targeted areas in both the Robb Trend and the Eastern Hood River Zone."
About Blue Star Gold Corp.
Blue Star is a Vancouver-based gold and silver company focused on exploration and development within Nunavut, Canada. The Company, through its subsidiary, Inukshuk Exploration Inc. ("Inukshuk"), owns the highly prospective 8,015 ha Hood River gold concessions located contiguous with the Ulu mining lease. Inukshuk acquired its interest in the Hood River property through a renewable, 20-year Mineral Exploration Agreement ("MEA") with Nunavut Tunngavik Incorporated ("NTI"), which owns the minerals and administers exclusive rights through the HOODRIVER-001 MEA, signed by Inukshuk and NTI on June 01, 2013. Blue Star has recently acquired the Ulu Gold Property, an advanced gold and silver project, and has completed the transmittal of the mining lease and assignment of the related permits and licenses. Together with the Hood River concessions, Blue Star controls nearly 10,000 ha of prospective mineral claims within which the Company has identified more than 40 gold occurrences.
Blue Star has 143,245,846 common shares outstanding and is listed on the TSX Venture Exchange under the symbol: BAU and on the Frankfurt Exchange under the symbol: 5WP. For information on the Company and its projects, please visit our website: www.bluestargold.ca.