12 January 2022
Highlights:
CEO Grant Ewing stated, “Our Ulu Project hosts the high-grade Flood Zone deposit and is a great core asset for Blue Star however we are also taking advantage of opportunities that are accretive to the project as a whole. Consolidating a significant land position in the north part of the High Lake Greenstone Belt immediately adjacent to the High Lake VMS deposit and having drill ready targets transforms Blue Star into a regional player.”
Roma Project Summary
Following the increase in landholdings announced today, the Roma Project area now encompasses 145.2 square kilometres of highly prospective mineral claims in the HLGB. At Roma Main there is a mineralized quartz vein measuring up to 3.0m wide traceable for approximately two kilometres. Results include grab samples to 126 g/t gold and an intersection of 12.38 g/t gold over 2.31m from limited drilling. At Roma Fold, there is a mineralized 1.0 – 2.5m wide quartz vein traceable for 350m in an anticlinal sequence of basalt and sediments. Surface sampling returned gold values up to 5.6 g/t gold but this showing was never drilled.
The structural setting and mineralization style of Roma Fold are similar to the high-grade mineralization that occurs at the Flood Zone deposit on the Company’s Ulu Project located 48 kilometres due south (see News Release dated February 18, 2021 for more details).
“Last explored roughly 25 years ago, the limited Roma field program in 2021 conducted familiarization traverses, mineralized showing checks and undertook some preliminary geochemical surveying. Given the limited work, the Roma Main showing is considered drill-ready and the initial geochemical surveys are indicative of additional previously unsampled potential target areas. I am excited that such a limited work program indicates solid potential for near term discovery on the Roma Project,” commented Darren Lindsay, Vice President Exploration.
2021 Exploration Program
Blue Star initiated its 2021 exploration program on June 23 with a geophysics campaign, a drill campaign starting on July 16th, and surface exploration on August 1st and successfully completed all phases of the program in September.
The Exploration campaign evaluated several high priority targets in the area of the known high-grade Flood Zone Gold Deposit on the Ulu Project, and on high potential targets along the Ulu fold hinge. Numerous priority targets exist along the 5 km long Ulu Anticline which extends from the Flood Zone Deposit onto the contiguous Hood River Project up to the North Fold Nose Zone.
Targets considered high priority on the Hood River and Roma Projects had basic initial exploration campaigns to better understand host geology, confirm structures and existing anomalous zones and undertake initial geochemical surveys to determine potential to generate additional targets of interest.
Objectives of the 2021 program include better understanding the controls of higher-grade zones within the hosting structures, evaluating additional structures on and adjacent to the Ulu fold hinge, and defining additional targets for potential near-term discovery. The balance of the assay results from the program will be reported as they are received. The slow turnaround of assays results from the lab is an issue facing the entire sector due to covid related disruptions and the high level of mineral exploration in Canada.