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Blue Star Gold (TSXV:BAU) adds second drill rig to Nunavut exploration program

Mining
TSX:WPCZF
22 July 2020 13:25 (EDT)

Blue Star Gold (BAU) is expanding its exploration program in the Kitikmeot Region of Nunavut with the addition of a second drill rig.

As part of a 7,000 metre drill program at the company’s Hood River and Ulu properties, an initial rig has already completed five drill holes for a total of 833.5 metres at the North Fold Nose Zone.

Now, a second drill rig has been commissioned and has begun work at the Flood Zone, which sits adjacent to the Ulu Mining lease. It will focus on identifying further gold mineralisation at the Flood Zone, as well as at the Gnu Zone later on in the program.

According to a technical report from July 10, 2015, and utilising a cut-off grade of four grams per tonne, the Flood Zone is thought to host a measured and indicated resource of 2.5 million tonnes at 7.53 grams per tonne of gold, which equates to 605,000 ounces of gold.

In addition, the current program will test a number of other gold targets that have been identified along the company’s recently discovered Robb Trend, which is thought to host at least seven substantial occurrences across its five-kilometre-long strike.

The Gnu Zone sits within this trend and, according to the same technical report from 2015, is estimated to hold an inferred resource of 370,000 tonnes grading 5.57 grams per tonne of gold for a total of 66,000 ounces of gold.

Peter Kuhn, Interim CEO of Blue Star Gold, said he is very pleased to have started drilling with the second rig.

“We look forward to expanding the existing resources as well as identifying additional gold zones in the newly targeted areas in both the Robb Trend and the Eastern Hood River Zone,” he added.

Blue Star Gold (BAU) is up 10 per cent and is trading at C$0.11 per share at 12:27pm EDT.

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