Blue Lagoon Resources Inc C.BLLG

Blue Lagoon Strategic Agreement with Crescat & Dr. Hennigh

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BLUE LAGOON ENTERS INTO STRATEGIC SHAREHOLDER AGREEMENT WITH CRESCAT AND ITS GEOLOGIST, DR. QUINTON HENNIGH

 
August 3, 2021 – Vancouver, British Columbia – Blue Lagoon Resources Inc. (the “Company”) (CSE: BLLG; FSE: 7BL; OTCQB: BLAGF) is pleased to announce it has entered into a Strategic Shareholder Agreement with Crescat Capital LLC, and its geologist, Dr. Quinton Hennigh. As announced on July 8, Crescat made a strategic investment of C$1.5 million in Blue Lagoon, also securing participation rights for future financings. Under the agreement, Dr. Hennigh will provide expertise regarding Blue Lagoon’s exploration and development strategy and other geological and technical matters.
 
“Quinton brings valuable experience and technical knowledge relevant to our operations at Dome Mountain which will prove to be greatly beneficial as we work towards advancing this highly prospective and under explored project,” said Rana Vig, President & CEO.
 
Upon review of the Company’s flagship project, Dr. Hennigh commented, "Blue Lagoon's Dome Mountain project displays characteristics of a certain type of intermediate sulfidation system called a carbonate-base metal-gold deposit. Examples of such deposits around the world include Kelian in Indonesia, Buritica in Colombia, and Highland Valley in Papua New Guinea. Although Dome Mountain has seen virtually no modern exploration, the property hosts a number of high-grade gold veins, in places quite closely spaced such as at the Freegold target. Blue Lagoon has already encountered multiple high-grade intercepts in some of their first drill holes on the project. Crescat is very excited to help fund a very aggressive drill program at Dome Mountain this year, one that could result in the recognition of Dome Mountain as a potentially large, high-grade gold system," he added.
 
Dr. Hennigh is an economic geologist with 25 years of exploration experience who, early in his career, explored for major mining firms including Homestake Mining Company, Newcrest Mining Ltd and Newmont Mining Corporation.  He then joined the junior mining sector in 2007 and has been involved with a number of Canadian listed gold companies, including Gold Canyon Resources Inc., where he led exploration at the Springpole alkaline gold project near Red Lake Ontario, a 5-million-ounce gold asset that was sold in 2015 to First Mining Gold Corp. He is founder and Chairman of Novo Resources, an Australian focused gold producer and explorer. Dr. Hennigh was also instrumental in Kirkland Lake Gold’s acquisition of the Fosterville gold mine, which is located in Australia and was previously owned by Newmarket Gold Inc.
 
Crescat is a global macro asset management firm headquartered in Denver, Colorado. Crescat's mission is to grow and protect wealth over the long term by deploying tactical investment themes based on proprietary value-driven equity and macro models. Crescat's goal is industry leading absolute and risk-adjusted returns over complete business cycles with low correlation to common benchmarks. Crescat's investment process involves a mix of asset classes and strategies to assist with each client's unique needs and objectives and includes Global Macro, Long/Short, Large Cap and Precious Metals funds.
 
For further information, please contact:
 
Rana Vig, President and Chief Executive Officer
 
604-218-4766
[e-mail]