CSE:BLLG - Post Discussion
Post by
alphaflight on Jul 02, 2021 11:16am
C.BLLG: Near Term Production With Vast Blue Sky Potential
| In this part 2 of our welcome email series, we would like to expand on the details of our projects and explain why the Blue Lagoon team is so excited about their growth prospects.
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Near Term Production With Vast Blue Sky Exploration Potential
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| The Dome Mountain Gold Project, located a short 50 minute drive from Smithers, B.C., holds both a Mining Permit and a Environmental Management Act Permit (EMA) providing for up to 75,000 tonnes production annually. In order to re-commence mining, the company only needs to satisfy 3 key amendments to the permit - finish the ground management plan (completed); finish the water treatment system (March 2021); and update the mine reclamation plans (April 2021). Once these three requirements are completed, the company expects to be in a position to make a decision with regards to production.
On the exploration side, only the Boulder vein system is the most explored portion, with 15 high-grade gold veins already identified within the property. During the recently completed 2020 drill program, the company drilled the Boulder vein at depth and hit 17.69 g/t gold and 70.40 g/t gold (including 0.65 m running 48.4 g/t gold and 95 g/t gold) over 3.13 m at a downhole depth of 338 m. This was the deepest hole on the Boulder vein to date.
Our 20,000 m diamond drilling program currently underway, will not only target the Boulder vein system at deeper levels but also test its extension to the east. The first ever property wide air borne geophysical survey flown recently identified numerous new targets including a mag structure at the edge of the known mineralization at the east end of the Boulder vein.
The Pellaire gold property possesses 10 mineralized gold - and - silver-bearing quartz veins. There are 24,000 tonnes of stockpiled mineralized rock on the surface, approximately 3 km from the existing camp and plant location. The material remains to be tested and processed, giving the company an excellent opportunity to potentially generate cash in the near future without dilution. No permit is required to move this particular material.
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The Golden Wonder Property is comprised of five contiguous mineral claims that cover an area of approximately 7,327 Ha. In 2019, Dahrouge Geological Consulting Ltd. undertook phase one fieldwork at the Property. During the 2019 program, a total of 207 soil samples and 17 rock samples were collected. Furthermore, a ground magnetic survey was conducted atop the Golden Wonder area, where a zone of gold, copper and cobalt is known to extend approximately 500 m along strike length.
Our Big Onion Porphyry Copper Project is a copper/molybdenum porphyry system. In 2016, a 630 km heliborne magnetic geophysical survey was completed on the Property by Walcott & Associates, outlining additional 2D and 3D magnetic anomalies with recommendations for drilling. This project holds high blue-sky potential, as no follow-up exploration work has been done in recent years.
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Canada: CSE: BLLG USA: OTCQB: BLAGF Germany: 7BL | |
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