Market Herald logo


Be the first with the news that moves the market
  • Blue Star returned two significant intercepts – 15 grams/tonne (g/t) gold over 17.65 metres, including a 6 metre interval of 25.74 g/t gold starting at 115.14 m downhole, and 5.31 g/t gold over 5.70 metres
  • Intercept DD22-FLO-001 also returned strong intervals of acicular arsenopyrite mineralisation from 5.36 metres to 12.00 metres (6.64 metre core length) and from 14.70 metres to 17 metres (2.30 metres core length) – assays are pending
  • Intercept DD22-MIQ-001 intersected a new blind polymetallic vein in the Gnu Zone, from 95.90 metres to 100.25 metres (4.35 metre core length) – assays are pending.
  • Four additional drill holes have been completed in the Gnu Zone target area with samples shipped with assays pending
  • Heli-borne-geophysics data acquisition and processing has been completed
  • Blue Star Gold Corp. (BAU) is up 3.45 per cent in early morning trading at C$0.60 per share

Blue Star Gold (BAU) has announced the first drill results from its 2022 exploration program on the Ulu, Hood River and Roma projects.

The projects are located in the Kitikmeot Region of Nunavut.

Figure 6: Blue Star projects.

Assays from the initial Flood Zone drill hole are reported above. The company is also providing an update on additional exploration activities on its multi-prong exploration effort across its highly prospective Ulu, Hood River, and Roma projects.

The Ulu mining lease hosts the advanced stage Flood Zone gold deposit, where a significant high-grade gold resource has been outlined.

Blue Star’s CEO, Grant Ewing, commented on the results.

Photo courtesy Blue Star Gold Corp.

“Our 2022 exploration campaign has begun with impressive results returned from DD22-FLO-002, which has the highest value (grams gold x width metres) of all intercepts drilled by Blue Star. The intercepts in FLO-002 are expected to allow the conversion of existing inferred ounces to an indicated category and expand the Flood Zone resource. Our understanding of controls on mineralization has improved significantly over the last several months and this has contributed to better targeting at both the deposit and property scale. Several promising target areas throughout our prospective landholdings will be assessed during the current program.”

The drilling at the Flood Zone is designed to provide additional data in areas where geological and resource modeling have data gaps and drilling at the Gnu Zone area is designed to expand the known extents of mineralised structures.

Blue Star is a gold company focused on exploration and development within Nunavut, Canada. Blue Stars landholdings total approximately 270 square kilometres of highly prospective and underexplored mineral properties in the High Lake Greenstone Belt in Nunavut.

The company owns the Ulu Gold Property mining lease – an advanced gold project, the highly-prospective Hood River Property that is contiguous to the Ulu lease, and the Roma Project.

A significant high-grade gold resource exists at the Flood Zone deposit (Ulu lease), and numerous high-grade gold occurrences and priority targets occur throughout the Ulu, Hood River and Roma Projects.

Blue Star Gold Corp is up 3.45 per cent in early morning trading at C$0.60 per share.

More From The Market Herald

" Victoria Gold (TSXV:GCX) reports Q2 2022 results

Victoria Gold (GCX) released its Q2 2022 results, mostly stemming from its Eagle Gold Mine in Yukon.

" Sandstorm Gold receives court approval for Nomad Royalty (TSX:NSR) acquisition

Nomad Royalty Company (NSR) announced that the Superior Court of Québec has issued a final order approving its acquisition by Sandstorm Gold Ltd.
Grizzly Discoveries Inc. - President & CEO, Brian Testo

" Grizzly (TSXV:GZD) to begin drilling targets

Grizzly Discoveries Inc. (GZD) has announced plans to begin drilling on the Greenwood Project before the end of this month.

" Winshear Gold (TSXV:WINS) upsizes private placement

Winshear Gold (WINS) has increased its previously announced non-brokered private placement financing to $650,000.