Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.

Advanced Gold Company Makes Moves in Canada’s Far North

Stockhouse Editorial
0 Comments| July 17, 2020

{{labelSign}}  Favorites
{{errorMessage}}


(Image via Blue Star Gold Corp.)


Looking for a solid play in the wake of the uncertainty caused around the COVID-19 coronavirus pandemic?

Click to enlarge
Investors have been flocking to gold mining stocks, a solid defensive asset that has grown nearly 15% since the beginning of the year. By mid-July, gold prices have shot up higher than $1,800 an ounce (USD) and experts forecast that within the next 18 months, it will break its all-time high of $1,923.

On July 13th, 2020, Blue Star Gold Corp. (TSX-V: BAU, OTC: WPCZF, Forum) announced that its 7,000 metre drill program is underway at its Nunavut properties, with the first planned diamond drill hole at the North Fold Nose Zone. The first of two drill crews have set up and began drilling a series of shorter holes with the goal to extend the gold mineralization identified in 2019 in the northern part of the Robb Trend on the Hood River property.

As the Vancouver-based gold and silver Company engages its exploration program, Blue Star Gold’s Interim Chief Executive Officer, Peter Kuhn, noted for investors in a news update that, especially given the COVID-19 related restrictions in place, all of the Company’s workers are taking associated precautions during all aspects of the program.

“We are grateful for the ongoing work of the Chief Public Health Officer and his team. Our top priority is the safety and well-being of our workers and communities.”


(Blue Star Gold stock chart – March 2020 – July 2020.)


Shares in BAU are trading around $0.10 (CAD) this week, doubling in value over the past several months.

Based on the Exposure Control Plan and the Health & Safety Plan that Blue Star Gold submitted to the Department of Health in Nunavut, the Chief Public Health Officer recently confirmed in early July 2020 that BAU can commence its work programs on the advanced gold and silver Hood River and Ulu projects, with regulatory approvals in place. Now that the Company is opening its Ulu camp and the second drill crew is heading to the site, the Ulu-based drill and crew can now focus on the Flood and Gnu zones at Ulu , before they move to new targets in the eastern part of the Hood River property.

The Company's projects are all located in western Nunavut including Ulu gold property, and the Hood River. Blue Star controls nearly 100 square kilometres (10,000 hectares) of prospective mineral claims and the Company has identified more than 40 gold occurrences within.

This continues a positive news flow from Blue Star Gold, as Company leadership recently declared it to be well-funded, having closed its non-brokered private placement, issuing a total of 4,100 units of the Company at a price of $1,000 per unit, raising total gross proceeds of $4,100,000. The proceeds from this private placement will be earmarked for the exploration and development of the Company’s Hood River and Ulu mineral projects, as well as general working capital.

As the drills are set to begin churning at its flagship project, Blue Star Gold Corp. is riding a wave of success that investors should keep track of over the next few months to assess returns and check on the value of this stock.



FULL DISCLOSURE: This is a paid article produced by Stockhouse Publishing.



{{labelSign}}  Favorites
{{errorMessage}}

Comments

No comments yet. Be first to comment!

Leave a Comment

You must be logged in to be able to post a comment.

Get the latest news and updates from Stockhouse on social media

Follow STOCKHOUSE Today