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This Canadian Gold Stock Continues to Shine After Solid Results

Stockhouse Editorial
4 Comments| September 7, 2021

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(Wet and dry photos of 21BSG007 NQ drill core from approximately 160m - 172m. Image via Blue Star Gold Corp.)


A top Canadian gold company has just crossed the halfway mark in exploring the planned metres of its exploration in Nunavut.

Click to enlarge


In an update issued to investors in early September, Blue Star Gold Corp. (TSX-V: BAU, OTC: BAUFF, Forum) stated that two drills are operating at its Ulu and Hood River Projects with 3,000 metres of diamond drilling completed to date in 14 drill holes, representing approximately 55%.

Situated in Nunavut’s Kitikmeot region, roughly 525 kilometres north-northeast of Yellowknife, the Ulu Project hosts the advanced-stage Flood and Gnu Zone deposits, where a major high-grade gold resource has been identified.

There are also several other zones – North Fold Nose, Zebra, Bizen, Apex and Contact – which are thought to be associated with the Ulu regional fold, that extend more than 5km from the Ulu lease to the north of the neighbouring Hood River property. Drilling has focused on targets proximal to the historical Flood Zone resource area with the initial two holes, evaluating lightly drilled geologically complex areas in the Flood Zone.

Subsequent drilling has evaluated parallel altered and mineralized trends within 500 metres of the Flood Zone and stepped out to the Gnu Zone for revaluation of historical drilling. Drilling has recently commenced on the North Fold Nose Zone which was a focus of previous programs.


In the news:

All located in the High Lake Greenstone Belt, Nunavut, the company highlighted the fact that Hole 21BSG007, one of its follow-up holes beneath a previous hole intersected a new vein system.

Specifically in the Gnu area, mineralization was strong, and results came in at 8.15 metres of 20.8 gram per tonne (g/t) gold (from 162.10 to 170.25 metres). In the Flood Zone, two holes intersected fine-grained acicular arsenopyrite mineralization and zones of massive, felted acicular arsenopyrite. The company noted that visible gold was observed in all of these holes, while core logging, and remaining results are pending.

Having conducted further airborne magnetic surveys, the company also staked out a maiden exploration campaign on the Roma Project, following a detailed heliborne magnetometry survey over a portion of the project area. The team conducted field evaluation of known historical high priority targets, mapping, rock sampling as well as drift prospecting of key target areas.

In a media release, Blue Star Gold’s Vice President Exploration, Darren Lindsay commented that the exploration campaign is progressing exceptionally well, given some early start up hurdles.

“Drilling is systematically evaluating our targets however the drill program remains very adaptive to the rocks we see coming from each target test. As a result, some meterage will be re-allocated to follow up on the excellent results from 21BSG007 as subsequent field work has confirmed this as a significant new target in the Gnu Zone and could be the team's first new discovery on the Blue Star Projects. The majority of holes completed to date display expected sulphide mineralization similar to those encountered in historical drilling and the 2019 and 2020 drill campaigns.”


A deeper look into 21BSG007:

CEO Lindsay specifically pointed to Hole 21BSG007 and a strongly veined section that was intersected above the target horizon.

This section consisted of generally white quartz veins that contain pyrite, pyrrhotite, and sphalerite with minor chalcopyrite, arsenopyrite and local visible gold. This vein system is interpreted to be parallel to the Gnu-Polymetallic target and currently is inferred to be part of a system of veins formed due to slip along sedimentary units located at the contacts of the gabbro body.

Field follow-up in the area uncovered at least one series of tight shear zones and quartz veins hosting similar sulphide mineralization over 5 metres – 10 metres wide and traceable on surface for greater than 60 metres. More work, such as drilling, will determine the extent of what is believed to be a newly discovered vein system.

Results received to date for 21BSG007 targeting the historic Gnu-Acicular trend:

From (m) To (m) Interval (m)* Gold (g/t)** Zn (%) Note
157.86 158.84 0.98 26.5 0.020 unknown type
162.10 170.25 8.15 20.8 0.309 polymetallic
includes 162.10 164.00 1.90 61.7 0.199 polymetallic
and 168.00 169.56 1.56 28.8 0.978 polymetallic
211.22 212.22 1.00 16.5 0.007 polymetallic
*Intervals are core lengths; not enough drilling has been completed to determine true widths.
**Gold assay values are uncut.




(Map of the Ulu and Hood River Area via Blue Star Gold Corp. Click to enlarge.)


The project at a glance:

The 2021 exploration campaign is evaluating several high priority targets in the known high-grade Flood Zone Gold Deposit on the Ulu Project, as well as high potential targets along the Ulu fold hinge.


(Plan map of 2021 drilling via Blue Star Gold Corp. Click to enlarge.)

Objectives of this year's program include gaining a better understanding the controls of higher-grade zones within the structures, evaluating additional structures on and adjacent to the Ulu fold hinge, and expanding and infilling previously known mineralized zones that have had only limited drilling.

Blue Star Gold began drilling at its Ulu and Hood River Projects back in July 2021, where several high-grade gold showings had already been identified.


Investment Opportunity:

Blue Star now controls over 160 square km of highly prospective and underexplored mineral properties in Nunavut’s High Lake Greenstone Belt.

Initial 2021 fieldwork to evaluate known targets and geological controls on the Roma Project and the Crown-Pro section of the Hood River Project could add to the company’s robust pipeline of targets for its extensive 100% controlled land package.

To keep up to date on the company’s news and operations, visit bluestargold.ca.



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





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