2022-04-20 | CSE:BLLG | Press release
VANCOUVER, BC / ACCESSWIRE / April 20, 2022 / Blue Lagoon Resources Inc. (there “Company“) (CSE:BLLG);(FSE:7BL);(OTCQB:BLAGF) is pleased to report that recent laboratory results from its 2021 Phase Two program have encountered high-grade vein intersections, some with visible gold, 100% owned, accessible year-round, the Dome Mountain Gold Project is located a 50-minute drive from Smithers, British Columbia
- 16.8 g/t Au over 0.42 meters, 22.12 g/t Au over 2.14 meters and 33.08 g/t Au over 1.40 meters in hole DM-21-200
- 10.51 g/t Au over 1.05 meters and 14.49 g/t Au over 1.91 meters in hole DM-21-206 with visible gold
The significant new results analyzes for the holes drilled in the Chance Zone are fully summarized in Table 1. These results continue to show the high degree of prospectivity offered by the Chance Zone and clearly indicate that follow-up drilling is warranted.
Drilling in the Chance Zone was designed to test this northwest trending structural zone for high grade quartz carbonate veining. Several holes were drilled from the same pads at different azimuths designed to test the limits of the structural zone. Recent results show that several new veins were impacted in most holes, including DM-21-200 which encountered 16.8 g/t Au over 0.42 metres; 22.12 g/t Au over 2.14 meters and 33.08 g/t Au over 1.40 meterss and hole DM-21-206 which met 10.51 g/t Au over 1.05 meters and 14.49 g/t Au over 1.91 meters including some intervals displayingvisible gold (Figure 1).
Gold mineralization is consistently associated with quartz-carbonate veins containing pyrite and other sulphides including galena, sphalerite, arsenopyrite and chalcocite. Strong carbonate alteration of the host rock is pervasive and narrow, zone-parallel quartz carbonate veinlets of up to 30-50 veins per meter are common in the hangingwall and footwall of the mineralized zones.
Hole DM-21-200 was drilled from a pad 275 meters southwest of the pad for holes DM-21-186 (with visible gold) to DM-21-189. Hole 200 was drilled below vertical (-85 degrees) and encountered sulphide-rich quartz carbonate veins between 77.5 meters and 78.9 meters that contained 10% pyrite and traces at 2% arsenopyrite grading 33.08 g/t Au and 72.3 g/t Ag.
Hole DM-21-206 was drilled from a basement located 130 meters southeast of hole DM-21-200. Hole 206 was drilled at an azimuth of 235 degrees and an inclination of -50 degrees and encountered an intersection of 1.91 meters from 101.32 to 103.23 meters including visible gold at 103.10 meters grading 14.49 g/t Au and 29.2 g/t Ag hosted in a quartz carbonate vein with up to 20% pyrite.
“The significance of these intersections cannot be underestimated,” said Bill Cronk, chief geologist at Blue Lagoon Resources. “Most of the holes drilled to date have encountered multiple high-grade veins, which underscores the fact that there are many new veins to follow in the newly identified prolific Chance structural zone. Only about 1/3 of the strike of this area has been tested and every single rig drilled to date has resulted in significant gold intercepts,” he added.
*Actual widths not yet defined
Geological, geochemical and structural data and observations support the current deposit model as a carbonate-hosted base metal (alkali gold) gold deposit.
QUALITY ASSURANCE AND CONTROL
Core selected for sampling was cut in half using a core saw or split using a hydraulic splitter and one half was bagged for shipment. A strict chain of custody, storage and shipping protocol has been maintained. All core preparation and analysis was performed by Bureau Veritas Minerals, located in Vancouver, British Columbia. The core was crushed, split and pulverized with 250 grams passing 200 mesh. Each sample was analyzed for gold by fire assay with ICP-MS finish (BVM code FA350) and for multi-elements by ICP 4-acid digestion with ES finish (BVM code MA250). by gravimetric fire analysis (BVM code FA550). Standards and blanks were inserted by company staff. The sampling program was undertaken by Company personnel by and under the direction of Lorrie Farrell P.Geo.
The scientific and technical data contained in this press release has been approved by William Cronk, P.Geo., a qualified person as defined in NI 43-101 and a consultant to the Company.
For more information, please contact:
President and CEO
Email: [email protected]
The CSE has not reviewed and accepts no responsibility for the adequacy or accuracy of this release. Statement Regarding Forward-Looking Information: This release includes certain statements that may be considered “forward-looking statements.” All statements contained in this release, other than statements of historical facts, which address events or developments that Blue Lagoon Resources Inc. (the “Company”) expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”. , “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “could”, “might” or “should” occur. Although the Company believes that the expectations expressed in these forward-looking statements are based on reasonable assumptions, these statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include results of exploration activities which may not show the quality and quantity necessary to continue exploring for and exploiting mineral deposits. , market prices and the continued availability of capital and financing, permitting and other approvals, and general economic, market or business conditions. Investors are cautioned that such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management as of the date the statements are made. Except as required by applicable securities laws, the Company assumes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change.
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