Vancouver, British Columbia–(Newsfile Corp. – July 13, 2020) – Blue Star Gold Corp. (TSXV: BAU) (FSE: 5WP) (the “Company“) announces that its 7,000m drill program started last Friday with the first planned DD hole at the North Fold Nose Zone.
The first of 2 drill crews set up and started drilling a series of shorter holes with the goal to extend the gold mineralization identified in 2019 in the northern part of the Robb Trend on the Hood River property.
The Ulu camp opening is under way. The second drill and crew are expected to arrive by the end of the week. The Ulu-based drill and crew focus on the Flood and Gnu zones at Ulu first before moving to new targets in the eastern part of the Hood River property.
Peter Kuhn, Interim CEO comments: “We are very pleased to have commenced our exploration program, especially given the COVID-19 related restrictions in place and associated precautions all of our workers must take during all aspects of the program. We are grateful for the ongoing work of the Chief Public Health Officer and his team. Our top priority is the safety and well-being of our workers and communities.”
About Blue Star Gold Corp.
Blue Star is a Vancouver-based gold and silver company focused on exploration and development within Nunavut, Canada. The Company, through its subsidiary, Inukshuk Exploration Inc. (“Inukshuk“), owns the highly prospective 8,015 ha Hood River gold concessions located contiguous with the Ulu mining lease. Inukshuk acquired its interest in the Hood River property through a renewable, 20-year Mineral Exploration Agreement with Nunavut Tunngavik Incorporated (“NTI“) which holds subsurface title to Inuit Owned Lands (“IOL“). The Hood River property located within the CO-20 IOL parcel is administered by the NTI through the HOODRIVER-001 MEA signed between Inukshuk and NTI dated June 01, 2013. Blue Star has recently acquired the Ulu Gold Property, an advanced gold and silver project and with regulatory approvals has completed the transmittal of the mining lease and assignment of the permits and licenses. Together with the Hood River concessions, Blue Star controls nearly 10,000 ha of prospective mineral claims within which the Company has identified more than 40 gold occurrences.
Blue Star has 143,245,846 common shares outstanding and is listed on the TSX Venture Exchange under the symbol: BAU and on the Frankfurt Exchange under the symbol: 5WP. For information on the Company and its projects, please visit our website: www.bluestargold.ca.
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Qualified Person: Warren Robb, P.Geo. a Qualified Person under National Instrument 43-101 (“NI 43-101“), has reviewed and approved the geological information contained in this news release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the Policies of the TSX-Venture Exchange) accepts responsibility for the adequacy or accuracy of this Release.
Certain information contained herein constitutes “forward-looking information” under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the Private Placement, the use of proceeds, the cancellation and refund of the Debentures and notification thereof, the automatic expiration of the Warrants, and the payment of finder’s fees. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “may be”, “intends” or variations of such words and phrases or statements that certain actions, events or results “will” occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including: the receipt of all necessary regulatory approvals, capital expenditures and other costs, and financing and additional capital requirements. Although management of the Company have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.