Precious Metals

Blue Lagoon Resources Inc. (the "Company") (CSE:BLLG; FSE:7BL; OTCQB:BLAGF) is pleased to announce significant mineralized intercepts from the first holes of the Phase Two 2022 drill program on its all year-round and road accessible Dome Mountain Gold Project, located a short 50-minute drive from Smithers, British Columbia. Drill results include 126 gt Au and 404 gt Ag over 0.41 meters from the Chance Structural Zone (CSZ) in hole DM-22-247

"While drilling the mineralized flat structural zone in the CSZ ("Flat Chance") we have encountered what we believe to be a new vein system of higher grade than those hosted in the Flat Chance Structure", said Bill Cronk, Chief Geologist for Blue Lagoon Resources. "The Flat Chance Structure has been drilled down dip for 400 meters and along strike for 200 meters and the structure has been hit in all holes so far. This structural zone ranges from less than 1 meter up to 15 meters thick which may host multiple gold mineralized veins and attendant alteration. Our drilling to extend along strike also intersected a new structure that lies orthogonal to the Flat Chance Structure and appears, at least initially, much higher grade, and offers another opportunity to develop additional mineralized resources at Dome Mountain."

Blue Lagoon Resources Inc. , Monday, September 19, 2022, Press release picture

Figure 1 Drilling on the chance Structural Zone. Not a-a' cross sections for figure 3

As mentioned, the Flat Chance is a shallow-dipping to flat-lying structural zone extending at least 400 meters down dip at about 12°dip (Figure 2). Thickness of the structural zone ranges from 1 to 15 metres. Hole DM-22-247 (Figure 1 and Figure 3) was intended to target this structure but also encountered an upper vein which ran 126 grams/tonne gold and 404 grams/tonne silver over 0.41 meters (core length) and, along with other holes which have hit this structure, points to another mineralized structure which can be defined by drilling in the near future.

Blue Lagoon Resources Inc. , Monday, September 19, 2022, Press release picture

Figure 2
Map shows drilling at Chance and highlights flat lying mineralized structure ( Fl;at Chance).
Flat Chance is defined downdip and open along strike. Sufficient drilling has yet to be performed to delineate resource.

Hole DM-22-247, 248 and 250 were all successful hitting the Flat Chance Structure as well as this new mineralized structure. (Figure 3). This new mineralized vein structure has a thickness of up to 1.73 meters including the vein itself and mineralized wallrock. * (Table 1).

Blue Lagoon Resources Inc. , Monday, September 19, 2022, Press release picture

Figure 3: Map showing cross section A-A' from figure 1. High grade vein cutting Flat Chance Zone

TABLE 2 Significant intercepts in 2022 Phase 2 drilling at Chance. Yellow highlights maximum thickness of new high grade mineralized zone drilled to date. Drilling in this area will continue as part of the 2022 Phase 2 Program.

Blue Lagoon Resources Inc. , Monday, September 19, 2022, Press release picture

*All intersection widths are drill indicated lengths as insufficient work has been done to determine orientations

A second drill has been added to the program. Drilling will continue to the Christmas break.

In addition to drilling, Blue Lagoon has completed a ground-based IP and CSAMT geophysical survey over the Chance Structural Zone and the Freegold Intrusion. The final report is yet to be delivered.

Soil sampling has been completed on the 2022 Dome Mountain Summer program. A total of 2,453 soil samples have been collected with results for 53% yet to be received. It is expected that the final results will be returned by mid October.

QUALITY ASSURANCE AND CONTROL

Core selected for sampling was cut in half with a core saw or split with a hydraulic splitter with one half bagged for shipping. Strict chain of custody storing, and shipping protocol was maintained. All core preparation and analyses were completed by Activation Laboratories Ltd. located in Kamloops, BC. Core was crushed, split, and pulverized with 250 grams passing 200 mesh. Each sample was analyzed for gold by fire assay with ICP-OES finish (Act Labs Code 1A2-ICP) and for multi-elements by 4-acid total digestion ICP with OES finish.(Act Labs Code 1F2) Any gold overlimits (>30 ppm Au) were analyzed by gravimetric fire assay. Standards and blanks were inserted by Company staff. The sampling program was undertaken by Company personnel and under the direction of Ted Vanderwart, P.Geo.

The scientific and technical disclosure in this news release was approved by William Cronk, P.Geo, a Qualified Person as defined in NI 43-101 and a consultant to the Company.

For further information, please contact:
Rana Vig
President and Chief Executive Officer
Telephone: 604-218-4766
Email: rana@ranavig.com

The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Statement Regarding Forward-Looking Information: This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that 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", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include results of exploration activities may not show quality and quantity necessary for further exploration or future exploitation of minerals deposits, volatility of gold and silver prices, and continued availability of capital and financing, permitting and other approvals, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and 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 on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

SOURCE:Blue Lagoon Resources Inc.



View source version on accesswire.com:
https://www.accesswire.com/716456/Blue-Lagoon-Hits-126-gt-Au-and-404-gt-Ag-at-Chance

News Provided by ACCESSWIRE via QuoteMedia

BLLG:CNX
Blue Lagoon Encounters Significant Mineralization on the Boulder Vein - Adds Over 200 Meters of Strike Length to Previous Deep Intercept 200 Meters Below Current Resource

Blue Lagoon Encounters Significant Mineralization on the Boulder Vein - Adds Over 200 Meters of Strike Length to Previous Deep Intercept 200 Meters Below Current Resource

Blue Lagoon Resources Inc. (the "Company") (CSE:BLLG); (FSE:7BL); (OTCQB:BLAGF) is pleased to announce significant mineralized intercepts from the last of the 2022 Phase One drill results on its all year-round and road accessible Dome Mountain Gold Project, located a short 50-minute drive from Smithers, British Columbia. Drill results include 124 gt Au and 36.7 gt Ag over 0.76 meters from the Argillite Vein in hole DM-22-233 and 31.67 gt Au and 473 gt Ag over 1.09 meters from the Boulder Vein in hole DM-22-229

Drilling deep and on strike in the Boulder Vein encountered very significant mineralization which added over 200 m of strike length to the already deep intercepts 200 meters below the current 43-101 resource on the Boulder Vein System. Results include 31.67 g/t Au and 473.0 g/t Ag over 1.09 meters (including 86.20 g/t Au and 1280 g/t Ag over 0.39 meters) from DM-22-229 and 11.22 g/t Au and 15.4 g/t Ag over 0.94 meters and 6.99 g/t Au and 37.7 g/t Ag over 4.63 meters ( including 10.28 g/t Au and 37.7 g/t Ag over 1.88 meters) both from DM-22-231. True thicknesses of these intersections are estimated at 70% of the drill indicated length.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Blue Lagoon Kicks Off 2022 Phase Two Drill And Exploration Program On Its Dome Mountain Gold Project

Blue Lagoon Kicks Off 2022 Phase Two Drill And Exploration Program On Its Dome Mountain Gold Project

Blue Lagoon Resources Inc. (the "Company") (CSE:BLLG) (FSE:7BL) (OTCQB:BLAGF) is pleased to announce that a crew has been mobilized to commence its Phase Two 2022 drill program on the Company's all year-round road accessible Dome Mountain Gold Project, located a short 50-minute drive from Smithers, British Columbia. A continuation of the 20,000-meter drill program announced in January 2022, the Phase 2 program is expected to be a minimum of 13,000 meters of diamond drilling

The Phase Two drilling, which starts today, will commence in the Chance Structural Zone, testing the hypothesis of a flat-lying structure hosting Au-bearing quartz-carbonate veins, intersected in the 2021 Phase 2 drill program ( Figure 1). The first hole will target between the DM-21-206 (14.49 g/t Au, 29.2 g/t Ag over 1.91m) and DM-21-218 (7.05 g/t Au, 17.4 g/t Ag over 3.98m). This initial target will test the flat lying target concept and follow up by using additional holes to define the extents of a possible new resource at Dome Mountain. Based on in house 3D modelling the minimum extents of a flat lying mineralized structure are at least 300m by 300m. Current modelling shows a mineralized structure dipping at approximately 12-15 degrees southwest.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Greenwing Resources

Strategic Transaction With NIO Inc.

Greenwing Resources Ltd (Greenwing or the Company) (ASX: GW1) is pleased to announce a strategic funding transaction with NIO Inc. (through its wholly owned subsidiary, Blue Northstar Limited) (NIO), enabling Greenwing to accelerate its exploration program at San Jorge Lithium Project in Catamarca province, Argentina and aligning NIO as the Company’s potential joint venture and offtake partner.

Keep reading...Show less
Aurora Energy Metals Limited

Aurora Energy Metals Project Update

Uranium and lithium-focused advanced explorer, Aurora Energy Metals Limited (Aurora or the Company) (ASX:1AE) is pleased to provide a detailed update of project activities relating to the Company’s 100%- owned Aurora Energy Metals Project. These activities have been taking place in Oregon and in Nevada.

Keep reading...Show less
Belararox Limited

Belararox Raises $3.85 Million in Oversubscribed Placement

New equity to fund Phase 2 Drill Program at Belara Project

Belararox Limited (ASX:BRX) (“Belararox” or “the Company”) is pleased to announce a placement (“Placement”) raising $3,850,000 at $0.55 per share (before costs). The Placement received strong support from both new and existing sophisticated and professional investors (Investors). Subject to shareholder approval, investors in the Placement will also receive a 1 for 1 attaching Listed Option (ASX:BRXO).

Keep reading...Show less
earth mover at a mine

The Lifecycle of a Mine: Discovery to Reclamation (Updated 2022)

The lifecycle of a mine is one of the key processes investors interested in the mining industry should understand. Each step in the lifecycle of a mine may take years, and these different processes all involve different levels of investment risk.

The early stages in the lifecycle of a mine are particularly risky. Junior miners are still a long way from production, and will face many obstacles before they get there. However, even this type of mining company can be a good investment for those who do their due diligence and ask the right questions.

With that in mind, here’s an overview of the lifecycle of a mine. There are five main stages: prospecting and exploration, assessment and approval, construction, production and reclamation.

Keep reading...Show less
Accelerate Resources Limited

New Targets Identified At East Pilbara Lithium Project Sampling Program Planned

Accelerate Resources Limited (ASX:AX8) ("AX8" or the “Company") is pleased to provide an exploration update on the Company’s Lithium projects in the East Pilbara.
Keep reading...Show less
What are Prefeasibility and Feasibility Studies? (Updated 2022)

What are Prefeasibility and Feasibility Studies? (Updated 2022)

Resource investors new to the market might see quite a few unfamiliar phrases in news releases. Prefeasibility and feasibility studies are definitely two key mining terms to know.

Prefeasibility and feasibility studies are inherently linked to each other — understanding their differences creates a clearer idea of what they are and how they’re used. Their key similarity is that they represent milestones for mining and exploration companies.

On that note, let’s take a closer look at what exactly prefeasibility and feasibility studies are, as well as how they fit into company plans and the lifecycle of a mining project.

Keep reading...Show less

Latest Press Releases

Related News

×