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Blue Star Gold Outlines Strong Discovery Potential at its Nunavut Projects

Mar 11, 2023 | North of 60 News

Blue Star Gold Corp. (TSXV: BAU) (FSE: 5WP0) (OTCQB: BAUFF) (“Blue Star” or the “Company”) is pleased to provide an update on the 2023 exploration plans at its projects located in the High Lake Greenstone Belt, Kitikmeot Region of Nunavut. The Company has numerous high potential resource expansion and new discovery target areas to assess based on the strong results of prior exploration programs.

Excellent potential exists to expand the updated mineral resource estimate for the Ulu Gold Project. The recent modelling at the Flood Zone deposit has identified potential for a second style of mineralisation (polymetallic veins) that could become a significant contributor to the overall resources outlined. At the Gnu (Nutaaq) Zone, located ~750 metres northeast of the Flood Zone deposit, an undrilled mineralisation trend can be traced for several hundred metres southeast of the resource area, providing strong expansion potential. The newly defined NFN Zone, located ~5 kilometres north of the Flood Zone deposit, has significant down dip and down plunge potential for resource growth. In addition to the considerable potential at the three main resource centres, numerous new target areas with no resources yet defined provide opportunity for additional discoveries.

Highlights:

  • Recently updated Mineral Resource Estimate for the Ulu Gold Project shows a significant high-grade gold resource:
    • Measured and Indicated Resource of 2.535 Mt @ 7.02 g/t gold for 572,000 ounces of gold and Inferred Resource of 1.283 Mt @ 7.34 g/t gold for 303,000 ounces of gold.
  • Strong 2022 exploration program results to follow up:
    • 15.00 g/t gold over 17.65 m, including 27.68 g/t gold over 5.0 m intercepted at the Flood Zone (DD22-FLO-002, see news release dated July 20, 2022), represents Company’s best intercept to date;
    • Gnu (Nutaaq) Zone drilling returned strong drill intercepts of 8.18 g/t gold over 4.2 m, including 13.53 g/t gold over 2.19 m (DD22-MSK-005, see news release dated Sept. 7, 2022), with similar mineralisation mapped 600 metres to the southeast, substantially expanding the prospectivity of the eastern limb of the Ulu Fold;
    • Unconstrained high-grade NFN intercepts, including 10.10 g/t gold over 2.05 m provide excellent potential for follow up drilling to expand the mineral resource (21BSG-017, see news release dated Feb. 15, 2022);
    • Mapping and prospecting programs advanced several priority targets that have potential for new discovery, including ~700-metre-long Bouncer prospect, the Zebra-Dagg target and the +500-metre-long Gravy trend; and
    • Targets at Roma Main – follow up on historical intercept of 12.38 g/t gold over 2.31 m (MD-01); and 1.36% Zn & 5.83 g/t Ag over 4 m intersected in a historical drill hole.

Blue Star’s CEO, Grant Ewing, commented, “Blue Star has made excellent progress improving and expanding the Ulu Gold Project resource, and we are excited to have numerous target areas that provide potential for considerable growth to our overall mineral resources. Upcoming exploration work will build off the knowledge acquired in prior programs with respect to new mineralisation styles and controls, as well as continued systematic assessment of the targets in the historical data in an effort to make important new mineral discoveries.”

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