Exploration Program Summary

Exploration
2022 Exploration Program

The program entailed a multi-prong exploration effort across the Ulu, Hood River, and Roma projects with two key focuses: infill and expansion drilling, and pipeline target review and development throughout the Company’s highly prospective landholdings.

Blue Star Gold’s Projects

The Company’s Ulu-Hood River properties are located approximately 525 km NNE of Yellowknife, NT in the Kitikmeot region of western Nunavut. The hamlet of Kugluktuk is approximately 210 km to the NW. The Roma property lies approximately 30 km north of the Ulu-Hood River properties. The total area of Blue Star’s projects encompasses  267 square kilometres of the highly prospective and underexplored High Lake Greenstone Belt.

The Ulu mining lease hosts the advanced stage Flood Zone gold deposit, where a significant high-grade gold resource has been outlined. Several additional gold prospects (including, but not limited to, Zebra, Contact, Central, Axis, and Gnu) are spatially related to the axis of the 5 km long Ulu Fold, which extends from the Ulu lease onto the northern part of the Hood River property and culminates at the North Fold Nose Zone. The recent expansion of the Hood River concession added several new target zones south of the Flood Zone gold deposit. The eastern side of the Hood River property is contiguous to the Ulu lease, and hosts over twenty known gold showings. The Hood River prospects have the same deformation history (including tight folding) as well as similar mineralization styles (acicular arsenopyrite and polymetallic quartz veins) and stratigraphic sequences as the Flood Zone. One of the most prospective target areas on the eastern Hood River property is the 4 km long Crown-Pro trend which has seen only limited drilling.

The Roma project lies in the northern section of the High Lake Greenstone Belt. The project covers high grade gold showings discovered by previous explorers, notably BHP Minerals from 1988 to 1994. Multiple significant gold showings are present within a 6.5 km x 2.4 km area on the historic Roma claim block. The original showing is a 0.30 to 3.0 m wide quartz vein exposed in outcrop and boulders for 2.0 km. In 1991, BHP drilled 10 shallow holes totalling 465 metres to test 1.72 km of strike of the vein. All drill holes intersected quartz veins from 15 m to 37 m vertically below surface. Visible gold was noted in three of the drillholes and the best results were 12.38 g/t Au over 2.31 m (including 64.0 g/t Au over 0.37 m) from DDH MD-01, and 8.69 g/t Au over 1.87 m from MD-03. No drilling was conducted downdip of the high-grade intersection in DDH MD-01 and no step out drilling to the north from this intercept was conducted. No follow up drilling is known to have been completed on this property since BHP’s initial drill program in the 1990’s. The Company has not verified the historical results from the Roma property and has presented information obtained from two assessment reports submitted by BHP Minerals Canada Ltd.; McMaster, G., (1995). Roma 3,4,5 and 6 Claims 1995 Geological and Geochemical Report, and Anonby, L. and Jopson, W., (1992). Geological, Geochemical, Geophysical and Drilling Report on the Roma 1 and 2 Claims.

The site of the future deep-water port at Gray’s Bay is 40 – 100 km to the north of the properties, and the proposed route corridor for the all-weather Gray’s Bay road passes in close proximity to the Roma, Ulu, and Hood River projects.

Highlights:

  • Blue Star is the largest title holder in the highly prospective and underexplored High Lake Greenstone Belt in Nunavut, controlling +45 km of the Belt.
  • The Company holds a 100% interest in three projects including the Ulu Gold project, the contiguous Hood River project, and the Roma project.
  • The Ulu project hosts the Flood Zone deposit, where a significant high-grade gold resource has been outlined.
  • Excellent resource expansion potential exists in a number of identified targets over the Company’s extensive landholdings. The first ever compilation and systematic desktop review of +100 historical exploration targets was recently completed; abundant discovery potential exists in the pipeline of prospects with drill-ready targets.
  • 2022 program drill results reported to date:
    • 15.00 g/t gold over 17.65 m, including a 6.00 m interval of 25.74 g/t gold from DD22-FLO-002. This represents the highest value (grams gold x width metres) of all intercepts drilled by the Company.
    • 52 g/t gold over 17.4 m, including 9.96 g/t over 6.3 m in DD22-FLO-001.
    • DD22-MSK-005 returned 8.18 g/t gold over 4.2 m, including 13.53 g/t over 2.19 m starting at 94.08 m downhole; additional assays pending.
    • DD22-MSK-001 returned 8.50 g/t gold over 2.4 m, including 20.10 g/t over 0.60 m starting at 124.24 m downhole.
  • A total of 3,690 metres of NQ diamond drilling was completed across four key target areas during the program, including the Flood Zone, the Axis Zone, the Gnu Zone and the Central-C Zone.
  • Approximately 50% of the samples from the program are pending assay results.
  • The geophysical component of the 2022 program included 1,690 line km at 50 – 100m line spacing flown over the entire Roma landholdings, and 1,365 line kms at 50m line spacing flown over the entire Ulu lease and Hood River concession that was not previously conducted in the 2021 survey.
Blue Star Projects
Plan map of drill hole locations from 2022 drill program.
Table of results to date.
DD22-FLO-002 - visible gold in interval of 17.65 m grading 15.00 g/t gold.

Technical Disclosure

Drill holes reported had core samples cut by core saw with one half of the core retained and the other half sent for analysis. Samples were prepared by ALS Yellowknife-Geochemistry and analyzed at ALS Global, North Vancouver. Gold analysis was by fire assay using ALS code Au-AA26 and multielement analysis by code ME-MS61. Control samples include a crush duplicate every twenty samples; certified reference material was inserted once every ten samples. Reported assay intervals are uncapped, use a minimum 1 g/t gold assay cut off with the inclusion of up to 2 m of material below cut-off. True widths for all but the Flood Zone are not known due to lack of drilling and may range from 50% to 95% of drilled lengths.

DetectORE™ is a new rapid geochemical analysis technique developed by Portable PPB Pty Ltd to be used at exploration sites. Regional geochemical samples (1000m x 50m grid) consisting of till samples collected from frost boils were sieved to <1 mm to capture approximately 2kg of material; samples were dried with a 500 gram split used in the analysis technique which includes final reading of the sample collector devices by pXRF, reject material was also analyzed by pXRF for multi-element review and retained. The QP has ensured the QAQC program of detectORE™ of two reference materials per processing batch (90 samples) and at least two certified collector devices are analyzed during the analysis stage was followed. Additionally, the Company inserted one blank, one duplicate, and one known anomalous sample into the initial processing batches.

Qualified Person

Darren Lindsay, P. Geo. and Vice President Exploration for Blue Star, is a Qualified Person under National Instrument 43-101 (“NI 43-101”) and has reviewed and approved the technical information contained above.

Exploration
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Exploration
2021 Exploration Program Summary

Highlights from the 2021 exploration drill program at the Ulu and Hood River Projects and the maiden exploration campaign on the Roma Project, all located in the High Lake Greenstone Belt, Nunavut.

  • Twenty-five drill holes completed for 5,012m of diamond core drilling evaluated 11 targets in six target zones; 2,534 core samples were collected for analysis.
  • Excellent results delivered from first two holes of the program; and rushed results from a new vein system:
    • New vein system discovered that returned 8.15m of 20.8 g/t gold ~750 metres northeast of the Flood Zone deposit; two Flood Zone holes returned 4.91m of 19.1 g/t gold, 7.00m of 6.9 g/t gold, and 2.64m of 13.0 g/t gold.
  • Flood Zone style mineralization intersected in several proximal targets including down to the 300m vertical level at the Central Zone and up to 2.5m wide in the Axis Zone.
  • Second consecutive successful exploration season with no COVID issues; 471 tests completed during the program.
  • 2,495-line km of airborne magnetometry data was collected.
  • Remediation effort relocated 5,134 (compacted) cubic metres of historical solid waste to the approved landfill to satisfy the Company’s Land Use Permit.
  • Safely completed inspections by CIRNAC and the Kitikmeot Inuit Association.
Exploration
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Exploration
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