15 February 2022
Vancouver, British Columbia – February 15, 2022: Blue Star Gold Corp. (TSXV: BAU) (FSE: 5WP0) (OTC: BAUFF) (“Blue Star” or the “Company”) is pleased to provide all final outstanding results including surface samples, re-sampled historical drill core and drilling results from the 2021 exploration program at its Ulu Project located in the High Lake Greenstone Belt, Nunavut.
CEO Grant Ewing commented, “Blue Star has numerous very prospective target zones throughout its extensive landholdings that have seen only limited modern-day exploration as most of the focus historically has been on delineating our high-grade Flood Zone gold deposit. The addition of the Roma project in 2021 and the discovery of a new vein system at the Gnu Zone, which represents a different style of gold mineralization from that of the Flood Zone deposit, adds to our potential for further new discoveries and resource growth. The 2021 exploration program successfully delivered several gold intersections in different zones on our projects and upgraded and expanded Blue Star’s extensive target pipeline.”
Mr. Ewing continued: “With the final release of the 2021 program assay data, we now have a better understanding of the geochemical and structural controls on our projects. We continue to unravel the structural architecture and develop improved targeting techniques, and the team is excited to test these concepts in our upcoming 2022 exploration program.”
Blue Star initiated its 2021 exploration program in June with a geophysics campaign, followed by a drill campaign and a surface exploration program and successfully completed all phases of the program in September. The exploration campaign evaluated several high priority targets near the known high-grade Flood Zone gold deposit on the Ulu Project. Objectives of the 2021 program included 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 final results from the 2021 exploration program are summarized below. Drill results are from the Flood Zone, the NFN target, the Central Zone, and the Gnu area with a single aborted hole reported from the East Limb target. Also included are additional results from core sampling completed through alteration zones in historical core that were not sampled previously, and surface samples from the regional evaluation work.
The final drill hole testing the Flood Zone, 21BSG025, intersected the targeted near surface mineralization which returned 4.65 m of 5.80 g/t gold from 25 m. Additional samples were collected from historical drill core in the Flood Zone, including holes 04UL-02, 04UL-09, 92VD154, 92VD155, and 92VD165. The sampling in 04UL-02 was successful in expanding a mineralized interval by 6.15 m. The previously unsampled interval was between high-grade and low-grade lenses, and the sampling program resulted in a significant improvement in the overall interval. The revised continuous mineralized interval expanded to 26.35 m at 3.36 g/t gold including 7.45 m of 6.90 g/t gold. Sampling of 92VD165 expanded shoulder samples from a historic 12 g/t gold value; the previous interval was 5.8 m at 2.83 g/t gold. The revised interval is 8.80 m of 2.43 g/t gold including 1.55 m of 8.05 g/t gold.
Two drill holes were completed at the NFN Target to better model a section through the geology and mineralization. It appears the shallow dipping west limb of the folded target zone is thin and carries highly variable but generally lower gold grades than the more steeply dipping east limb and the inferred hinge zone. Hole 21BSG017 returned 2.05 m of 10.10 g/t gold.
Follow up drill holes to significant results in the Gnu Target Area included one hole to confirm the previously reported intercept in 21BSG007 (8.15 m of 20.8 g/t reported on Sept. 01, 2021). This drill hole, 21BSG020, returned an interval of multiphase veining with an assay result of 5.34 m of 3.72 g/t gold (approximate true with of 5 m) which includes an interval of polymetallic vein (1.60 m of 7.33 g/t gold) and an interval of quartz vein (1.94 m of 4.12 g/t gold). Two additional short holes evaluated a surface exposure of a multiphase, metre-scale quartz vein interpreted to be the possible extension of the vein in drillholes 21BSG007 and 21BSG020. Only one hole intersected the inferred structure with a narrow intercept of 0.95 m at 1.53 g/t gold. Hole 21BSG022 stepped eastward along the acicular target zone and returned a wide alteration zone of 5.18 m of 0.59 g/t gold containing an interval of interest of 1.00 m of 1.32 m g/t gold.
A single drill hole evaluated the inferred intersection of the Central and Axis zones; 21BSG018 returned no values of interest. One hole was set to evaluate the first target in the East Limb Zone but was aborted; drill hole 21BSG019 returned 0.94 m of 2.07 g/t gold in the hanging wall of the primary target zone before the hole was aborted due to mechanical problems with the drill rig.
Surface sampling from the Roma Project returned numerous anomalous grab samples from the Roma North, Roma Main and Roma Fold areas including 2.91 g/t and 12.60 g/t gold respectively (range of detection limit to 12.6 g/t gold). These are in addition to the previously reported till samples.
“Significant delays in laboratory turnaround times for all explorers impacted some “in the field” decisions; nonetheless, our 2021 results have clearly demonstrated some key areas to tighten up our drill spacing and the teams improving geological knowledge of the mineralizing system has added additional targets to our pipeline for the coming year. In addition, the expanded Hood River concession area pulls in solid targets like Twilight and the consolidation of Roma along the little explored Kennarctic Shear is expected to provide additional exciting news flow in 2022,” commented Darren Lindsay, Vice President Exploration.