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 Ulu 2024 Exploration Program Summary

Details
Category: 2024 Exploration Program

 2024 Exploration Program Summary

Blue Star mobilized its 2024 exploration program in May and completed the program in September. The program focused on the Company’s Ulu Gold Project and Roma Project in the Kitikmeot region of Nunavut.

Highlights:

  • Mobilization of the discovery drill program at Ulu and Roma Projects occurred in May
  • Gold focus, with a component of the program dedicated to discovery of critical mineral deposits
  • Priority targets were drilled based on potential for discovery, scale, and proximity to existing resources, including:
    • Evaluation of higher-grade, larger targets within and near the Flood deposit
    • Initial drill test of the 2023 Mikigon surface discovery, a new style of mineralization at Ulu
    • Testing mineralized structures and targets in the trend that hosts the Gnu deposit
    • Other high-potential targets were evaluated (both gold and critical minerals)
  • 16 diamond drill holes for ~4,000 metres across five main target areas were completed, including: HI (Ataani), Mikigon, Penthouse, Gnu Zone (Nutaaq), and the Flood Zone
  • Highlights from the Ulu Gold Project drilling:
    • Targeted Flood Zone structure returned 3.66 metres of 8.46 g/t Au including 1.00 metre of 15.25 g/t Au
    • Extended Flood Zone with drillhole intercepts of 9.61 metres of 1.83 g/t Au including 1.36 metres of 3.66 g/t Au, and 3.22 metres of 7.52 g/t Au including 2.01 metres of 10.38 g/t Au in a 30-metre step-out from the existing resource model
    • Mikigon drilling indicated a pathfinder halo for the system that includes 1+ g/t Au intervals associated with quartz veining, arsenopyrite and elevated bismuth and tellurium values
    • Results from drill holes testing both the Nutaaq veins and the inaugural test of the Zebra prospect include:
      • Nutaaq veins returned 17.3 metres of 2.60 g/t Au including 1.0 metre of 23.5 g/t Au, and 6.6 metres of 2.63 g/t Au
      • Prospecting samples from the Nutaaq trend returned 23.0, 8.96, 6.03, and 2.49 g/t Au
      • Prospecting samples from the Zebra prospect returned grades of 28.1, 14.6, and 5.01 g/t Au
      • Inaugural drilling of the Zebra prospect returned encouraging results of 3.6 metres of 1.73 g/t Au including 2.9 metres grading 2.01 g/t Au
  • Highlights from the Roma Project drilling:
    • A program of Fixed Loop Electromagnetic ("EM") surveying outlined a 320 metre by 100 metre EM plate representing a zone of strong conductivity located 180 metres below surface
    • The inaugural critical minerals component of the drill program included 1,365 metres of drilling at the Ataani discovery (Roma, HI property)
    • Five holes for 1,365 metres were undertaken
      • Hole 1: intersected 17.1 metres of 0.973% copper equivalent (CuEq*) from a zone of stringer to massive sulphides
      • Hole 2: targeted ~45 metres below the 17.1 metre sulphide intercept in the first hole and intersected a 37.25 metre zone of stringer to massive sulphide mineralisation. A 26.9 metre stringer to massive sulphide section returned 0.576% CuEq, including a 7.2 metre zone grading 1.145% CuEq
      • Hole 3: was drilled ~50 metres down dip of the 37.25 metre mineralized zone intersected in the second hole, and intersected a 1.7 metre mineralized zone grading 0.880% CuEq
      • Two additional drill holes, totalling 492 metres, tested the ground along strike 110 metres to the south and 110 metres to the north of the reported drill holes. Both holes intersected the mineralized zone.

*Metal Equivalents: Copper Equivalent (CuEq) and Gold Equivalent (AuEq) mentioned above for drill intersections are calculated on a basis of US$ 3.75/lb for Cu, US$ 1,900/oz for Au, US$ 20/oz for Ag, US$ 1/lb for Zn, and US$ 0.95/lb for Pb with metallurgical recoveries assumed for all metals based on the values in the MMG 2023 Mineral Resource and Ore Reserves Statement. The assays have not been capped. CuEq = Cu + 0.279 * Zn + 0.231 * Pb + 0.623 * Au + 0.007 * Ag; calculations reviewed with Equivalent Grade Calculator (aaronmcm.com).

121024 Figure 1

 

Flood Zone Drilling121024 Figure 1

Ataani Drilling121024 Figure 1

Program

Prospecting Program, Rock Samples

Base metals Note
Cu_ppm Pb_ppm Zn_ppm Co_ppm  
131 13.8 121 10  
41.7 20 15 6.6  
215 53.3 203 47.7  
288 70.1 99 54.8  
58.2 383 647 45.4  
149 22 134 49.2  
2640 6560 94600 73.7 9.46 % Zn
12.6 98.1 79 22.7  
86.4 18.9 130 37.9  
93.1 103.5 270 27  
104.5 279 753 203  
49.5 30.8 184 32.4  
48.3 36.2 380 22.6  
79.4 33.3 146 46.3  
933 22.8 859 62.3  
157.5 23.4 66 1.6  
14 39.5 35 0.2  
120 14.3 202 34.7  
195.5 17 144 64.2  
57 6.8 191 37.6  
70.6 5.9 182 42.1  
186.5 13.3 227 34  
189 36.6 239 45.9  
113.5 15.9 369 39.6  
135 20.2 111 31.3  
46.7 4.9 169 35  
413 40.6 197 49.6  
130 16.7 191 48.7  
300 2210 156 38.8  
331 18.8 591 49.7  
720 2.8 20 74.3  
203 12.6 66 42.1  
424 3.8 27 192  
1160 1.4 92 29.7  
788 2.6 39 55.2  
745 2 32 171.5  
2230 1.4 90 35  
162.5 3.6 39 33.3  
193.5 16.9 46 13  
289 4.7 207 29.4  
287 26.6 231 75.7  
802 202 253 31.1  
6800 16 67 129  
109.5 4.3 4 1.9  
534 27.9 49 81.1  
464 1.9 3 84.8  
1090 16.6 61 67.2  
1205 1.5 7 250  
936 0.9 11 8.3  
740 1.5 11 166.5  
349 0.7 1 2  
167.5 5.1 18 3.6  
1420 6.1 127 57.4  
12100 86.8 11450 32.5 1.21 % Cu and 1.145 % Zn
4000 829 355 260  
2070 11 89 12.8  
40700 20400 9950 38.6 4.07% Cu, 2.04% Pb, 0.995% Zn
4250 119.5 248 74.2  
25700 76.7 424 61.3 2.57% Cu
749 41 933 21.7  
78.4 19.3 135 25.1  
79.1 34.3 77 25.4  
35.3 35.3 57 16.9  
362 26.9 39 10.5  
378 3.8 3 52.3  
492 17.2 29 47  
85.6 15.8 69 18.5  
230 10.5 74 276  
170 16.6 83 21  
401 95.2 1160 270  
37 2720 2130 1.7  
27 8.5 37 20.5  
47.4 13.2 67 18.5  
58.4 29.4 94 26.1  
22.6 11.5 25 28.7  
23 2.2 88 24.1  
21.8 17.1 119 22  
49.4 10 37 20.6  
397 5.3 39 42.7  
22.8 5.8 76 45.8  
71.7 35.3 2250 0.5  
79.1 22.5 153 29.7  
108.5 19800 17650 14.5 1.98% Pb and 1.76% Zn
89.6 12.9 71 35.8  
43.4 14.8 116 39.7  
109.5 22 69 35.2  
182 14.3 110 71.2  
56.2 1.9 47 22.3  
7.4 7.5 9 0.4  
205 29.5 63 18.7  
176.5 19.5 65 18.5  
1225 34.6 65 82  
2.9 12.3 42 23.9  
71.5 9.4 55 30.7  
41.7 5.3 51 31.8  
22.7 23.1 2830 31.3  
125 20 75 8.9  
221 3.3 17 56  
13.2 15.9 22 20.2  
65.2 11.8 210 6.7  
55.6 41.8 102 13.8  
18.8 54.5 88 15.8  
13550 19.3 70 15.7 1.35% Cu
972 4.7 58 32.4  
39.5 28.2 20 15.8  
1815 93.9 81 260  
3990 187.5 149 84.9  
708 145 177500 5.2 17.75% Zn
85.1 496 6460 25.9  
12.3 21.1 329 61.6  
1.9 6.9 8 3  
90.9 3.2 71 7.5  
2210 38.3 34 68.2  
5.8 5.7 59 22.2  
9.8 10.2 52 25.6  
27.1 4.5 27 24.1  
27.6 5.9 18 60.7  
4.5 17.2 20 4.7  
28.1 4.3 22 46  
26.5 279 88 75.7  
408 22 60 4.9  
88.1 29.4 40 37.4  
38.4 18.1 29 79  
4110 48.3 64 6.9  
15 17.1 37 14.7  
27.5 14 64 49  
4410 22.8 38 2.9  
9.1 20 37 0.5  
15.5 4.4 60 11.7  
16.4 96.5 447 3.6  
24.8 9.9 41 74.6  
3.3 8.6 84 7.9  
16.9 8.1 28 86.9  
76.3 620 1755 0.8  
30.7 2000 1450 0.8  
105.5 1540 15 19.7  
110 138 136 9  
23.9 76.4 25 1  
840 389 48700 26.6 4.87% Zn
1745 31800 35700 15.4 3.18% Pb and 3.57% Zn
7.2 53500 686 3.7 5.35% Pb
83.3 178.5 533 0.3  
12.8 12.4 44 4.1  
517 14.6 174 10.4  
62.8 377 86 0.7  
59.2 9.9 39 10.1  
30.5 403 285 6.3  
87.7 33.3 978 37.3  
120.5 11.5 1885 15.4  
400 3 60 38.5  
152 15.9 90 30.7  
43.7 7.2 42 23.4  
47.1 71.1 99 93.4  
456 60.9 161 299  
70.9 136 111 145  
41.4 120.5 84 198.5  
204 370 86 789  
49.9 1980 9080 58.6 0.908% Zn
14 221 65 646  
627 54 1685 12.7  
7 40.9 32 566  
716 230 67 56.6  
865 111 147 41.5  
47.4 22 69 140  
278 13.8 136 25.5  
21.2 84.2 44 17.9  
151 13.6 70 43  
48.9 7260 29 1.1  
192 16.2 131 72.2  
91.4 13.8 105 21.1  
152 13.4 106 21  
7.8 8.9 49 5.4  
40.5 6.2 56 9.7  
220 12.7 97 24.4  
91 18.4 123 29.8  
194 10 218 27.4  
88.6 11.1 143 32.5  
81.4 7 120 23.4  
175 4.8 119 27.7  
155 11.6 183 28.5  
147 7.4 166 47.9  
187 16.6 180 52.5  
431 8 144 42.6  
110 4.8 158 37.5  
130 8.2 159 48.6  
73.6 7.6 138 43.5  
150.5 18.8 338 45.3  
86.1 7.5 21 2  
666 30 180 65.2  
236 9.6 125 58.8  
290 15.2 16 13.3  
119.5 7.8 73 21.1  
199 13.4 19 31.4  
2740 2220 10850 232 0.27% Cu and 1.085% Zn
145 114 110 47.4  
152 16.4 93 39.5  
511 19 114 75.8  
285 11 94 51.4  
241 1.7 119 13  
1065 10.6 77 51.9  
701 4.7 106 36.6  
185 6 132 54.4  
502 18.1 122 39.5  
190 4.1 117 33.6  
486 5.2 108 35.1  
356 6.9 121 41.8  
28.2 0.6 6 6.3  
1100 4.8 150 45.6  
527 2.3 94 63.9  
118.5 2.1 132 58.1  
371 2 79 18.7  
741 4 121 176.5  
615 4.1 264 41.8  
228 3.8 130 43.6  
199 3.7 160 47.3  
507 7.2 38 61.4  
608 24.7 97 46.6  
229 2.4 30 31.5  
8100 1.8 19 47.1 0.8% Cu
202 0.25 2 20.6  
58.6 1.1 30 7.6  
74.5 13.1 77 26.3  
298 16.1 178 51.6  
360 10.1 343 67  
316 12.1 336 47.5