Blue Lagoon adds a second drill to its 20,000 meter drilling program on Dome Mountain | 2022-02-01 | Press Releases

VANCOUVER, BC /ACCESSWIRE/February 1, 2022 / Blue Lagoon Resources Inc. (the “Company“) (CSE: BLLG) (FSE: 7BL) (OTCQB: BLAGF) is pleased to announce that it has mobilized a second team to support the recently announced 20,000 meter drill program at its Dome Mountain Gold Project, a year-round accessible property located a 50 minute drive from Smithers BC.

The second drill will initially focus on the Boulder Vein where holes will be drilled from two pads and directed to drill high angle into the known Boulder Vein, targeting mineralization down dip below the 1000 meter level. Using the HQ core, five to six holes are planned to be drilled at the same azimuth from each platform with a goal in mind to drill from the known to the unknown with great attention to core orientation .

HOW DEEP DOES IT GO?

In 2020, hole DM-20-139 returned 17.69 g/t Au and 70.41 g/t Ag from a depth of 335.47 m to 338.6 m (3.13 meters), the deepest intersection to date on the Boulder Vein which essentially extended the down-dip extent. of the Boulder vein for an additional 200 meters (see press release dated December 9, 2020).

“While drill number one focuses on follow-up drilling on new and recently discovered areas of high interest, this second drill will again target the Boulder Vein, this time at even deeper levels, and continue to test proof of concept.’ that the gold mineralization at Boulder Vein goes much deeper than historical drilling has shown,” said William Cronk, chief geologist of Blue Lagoon Resources.

Dome Mountain’s geology bears a remarkable resemblance to the world-class Buritica gold deposit in Colombia. Buritica is composed of a swarm of near-vertical sheet-like high-grade veins that strike at depths of at least 1.5 km and remain open at depth. Using this as a geological model and the fact that hole DM-20-139 intersected 17.69 g/t Au and 70.41 g/t Ag at a depth of 335.47 m to 338.6 m (3. 13 meters) at least 200m below the existing resource, The Blue Lagoon Geological Team is confident that there is substantial benefit to extending the Boulder Vein and possibly finding additional veins nearby.

Figure 1

Boulder Resource section showing the pierce point of Boulder Vein hole DM-20-139 at depth, relative to the modeled Boulder Vein resource. The high-grade gold intercept, the deepest intercept to date on the Boulder Vein, is 150 meters deeper than the lowest elevation of the Boulder Resource.

The first phase of the company’s recently announced 20,000 meter drill program will continue through mid-March 2022 and is expected to resume shortly after snowmelt and ice breakup, and ground conditions will become more favorable for the remobilization of drilling teams.

The scientific and technical disclosure 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:

Rana Vig

President and CEO

Phone: 604-218-4766

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 for further exploration or exploitation of mineral deposits. , gold and silver price volatility and the continued availability of capital and financing, clearances 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.

THE SOURCE: Blue Lagoon Resources Inc.

See the source version on accesswire.com:

https://www.accesswire.com/686679/Blue-Lagoon-Adds-Second-Drill-Rig-To-Its-20000-Meter-Drill-Program-On-Dome-Mountain

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