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Blue Star Gold Corp
Symbol BAU
Shares Issued 130,900,304
Close 2019-10-08 C$ 0.055
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Blue Star drills five m of 15.37 g/t Au at Hood River

2019-10-09 10:44 ET - News Release

Mr. Stephen Wilkinson reports

BLUE STAR REPORTS INITIAL FIVE DRILL HOLE RESULTS FROM HOOD RIVER CONCESSIONS IN NUNAVUT

Blue Star Gold Corp. has released the first analytical and assay results for the 2019 drill program on the company's Hood River concessions. The program that focused on the North Fold Nose (NFN) gold zone concluded on Sept. 29 and comprised 11 completed holes for approximately 1,540 metres (m) of core. A prospecting and sampling program ran in parallel with the drilling resulted in 698 samples being sent for analyses.

Highlights:

  • Drilling confirms high grades of surface samples with first intersections of:
    • 31.1 grams per tonne (g/t) gold (Au) over one m;
    • 15.37 g/t Au over five m;
    • 6.92 g/t Au over three m;
  • 11 core holes completed for a total 1,540 m;
  • Target mineralization intersected in all holes.

Stephen Wilkinson, the company's chief executive officer and president, commented: "We have seen a very successful conclusion to our 2019 exploration work of diamond drilling with detailed surface mapping and sampling. The Hood River concessions' NFN gold zone and associated areas of gold mineralization have been confirmed to hold the potential of new and accretive gold resources."

The 2019 diamond drill program was started on Sept. 4 with the collaring of hole HR-19-001. The first hole was designed to test the far western limb of the Ulu fold and to assist the drillers in procedures for drilling the complex geology of the NFN gold zone. Interestingly, this first hole intersected a 13-metre zone of anomalous gold between 107 m and 120 m, including one m of 1.11 g/t Au between 113 m and 114 m within strongly silicified fine schist. Holes HR-19-002 to -010, were drilled on the east fold limb to test the potential NFN gold zone, north of the historical (1990 and 1991) drilling of BHP (please see the company news release dated Sept. 5, 2019). The final hole, HR-19-011, was completed on Sept. 27, approximately 280 m south of the first 10 holes. Over the course of the last week and with the fieldwork of the program safely completed, the camp was prepared for winter and closed. The last crew members were flown out by Oct. 5.

Significant gold intersections were encountered in drill holes HR-19-002 to HR-19-005. HR-19-002 intersected an average 15.37 g/t Au over five m (including one m of 25.40 g/t Au and one m of 48.70 g/t Au), while HR-19-003 intersected 31.1 g/t Au over one m. HR-19-004 returned an average of 6.93 g/t Au over three metres. All assaying was conducted by ALS Global, an independent analytical laboratory. The drill intersections are displayed in the attached table.

Within the NFN gold zone, the intersected lithologies comprise poorly foliated dark green mafic metavolcanic units, gabbro sills, granitic dikes and micaceous metasedimentary schists. Metasediments are moderate to well foliated, fine-grained to medium-grained biotite schists and may be interbedded with basaltic metavolcanics. Grain sizes vary from a lithic wacke to siltstone and argillite equivalents. Cordierite and garnet porphyroblasts produce a knotty texture suggesting a high metamorphic grade. Drill holes HP-19-002, -003, -004 and -005 intersected the same metasedimentary unit in the nose and east limbs of a synclinal structure of NFN.

Alteration comprises veining and quartz flooding throughout the metavolcanic succession. It comprises hairline to 0.1-metre irregularly oriented veinlets of quartz, carbonate and calc silicates. Chlorite biotite accompanies the veining selvages. Crackle micro-brecciation occurs with strong silicification.

Polymetallic mineralization is generally located along a shear, which commonly does not exceed 0.8 m on the hanging wall in strongly silicified, flooded by quartz, partially brecciaed basaltic metavolcanic units. This shear zone is developed on the boundary of two major lithologies: massive, very competent, poorly foliated dark green metavolcanic at hanging wall versus well foliated, less competent, micaceous metasediments at footwall. Pyrrhotite, pyrite, sphalerite, chalcopyrite and less arsenopyrite occur ribbon concentrated at quartz veining edges.

Blue Star will further report on the results of the drilling and surface sampling upon receipt of the assays and analyses in a timely manner. The company believes that these results will be arriving over the course of the next three to four weeks and may be announced in one or more releases.

In addition, the company appreciates and wishes to thank the territorial and federal agencies that facilitated the permits to conduct its 2019 programs. In particular, Blue Star is grateful for the guidance and collaborativeness of the Nunavut Water Board, the Kitikmeot Inuit Association and Nunavut Tunngavik Inc. Furthermore, it was through the outstanding efforts of its major contractors, Matrix Kitikmeot Inc., Northtech Drilling Ltd. and Summit Helicopters Ltd., working under the difficult conditions of approaching winter that Blue Star was able to achieve such a successful inaugural drill campaign.

Quality assurance/quality control (QA/QC) program for the 2019 exploration work

The company, in addition to the QA/QC protocols of ALS Global, maintains its own program of inserting standard reference material in the form of standards and blanks into the sampling stream, prior to being shipped to ALS's preparation facility in Yellowknife.

Qualified person

Warren Robb, professional geoscientist, is a qualified person under National Instrument 43-101 and has reviewed and approved the geological information contained in this news release.

About Blue Star Gold Corp.

Blue Star is a Vancouver-based gold and silver exploration company focused on exploration and development within Nunavut, Canada. The company, through its subsidiary, Inukshuk Exploration Inc., owns the highly prospective 8,015-hectare Hood River gold property located contiguous to the Ulu mining lease. Blue Star has recently exercised its option to acquire the Ulu, an advanced gold and silver project, and awaits regulatory approvals for the transmittal of the lease and assignment of the permits and licences.

We seek Safe Harbor.

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