Blue Lagoon toll plant partner begins shipping gold and silver concentrate
VANCOUVER, BC / ACCESSWIRE / September 1, 2021 / Blue Lagoon Resources Inc. (the ‘Society‘) (CSE: BLLG) (FSE: 7BL) (OTCQB: BLAGF) is pleased to announce that the Company’s custom machining partner, Nicola Mining (‘ Nicola ‘), has started shipping manufactured concentrate from mineralized material from its Dome Mountain underground mine. To date, 140 dry metric tonnes of gold and silver concentrate grading approximately 90 g / t Au and 500 g / t Ag have been prepared by Nicola for shipment. All concentrate assays were performed at Base Met Labs, an accredited metallurgical testing facility located in Kamloops, British Columbia.
âWe are very pleased with the opportunity to monetize this storage material which has been underground in the mine for some time,â said Rana Vig, President and CEO of Blue Lagoon Resources. “With already healthy $ 9 million in cash flow, over 4 million warrants outstanding and no debt, the additional cash from the sale of this concentrate will continue to ensure that we have a strong lead to execute on our business. aggressive exploration on this relatively unexplored project, âhe added.
Bags filled with gold and silver concentrate made from Dome Mountain mineralized materials wait to be loaded at Nicola’s mill in Merritt, British Columbia.
Trucking of mineralized materials from Dome Mountain, which began on June 14, 2021, went smoothly with approximately 15 trucks leaving the mine site each week. To date, over 90 40 tonne trucks have been shipped to Nicola, delivering over 3,500 tonnes of high grade mineralized material from Dome Mountain. Weekly shipments are expected to continue until more than 6,000 tonnes of material has been removed from the underground mine and processed at the Nicola Mining plant (see press release of July 7, 2021).
The scientific and technical data contained in this press release has been approved by William Cronk, geologist, a qualified person within the meaning of NI 43-101 and a consultant to the Company.
For more information, please contact:
President and CEO Telephone: 604-218-4766
Email: [email protected]
The CSE has not reviewed and accepts no responsibility for the adequacy or accuracy of this release.
This press release includes certain statements which may be considered “forward-looking statements”. All statements in this press release, other than statements of historical fact, that deal with events or developments that Blue Lagoon Resources Inc. (the âCompanyâ expects to occur) are forward-looking statements. Forward-looking statements are statements which are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intentions”, “estimates” , âProjectsâ, âpotentialâ and similar expressions, or that events or conditions âwillâ, âwouldâ, âcouldâ, âcouldâ or âshouldâ 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 of forward-looking statements. Factors that could cause actual results to differ materially from those of forward-looking statements include results of exploration activities which may not show the quality and quantity necessary to improve the classification of the mineralization or for exploration and development. additional exploitation of mineral deposits, market prices and continued availability. capital and financing, permits and other approvals, and general economic, market or business conditions. Investors are cautioned that these 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 management of the Company 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 in the event that the beliefs, estimates or opinions of management, or other factors, should change.
THE SOURCE: Blue Lagoon Resources Inc.
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