Blue Lagoon Resources Inc. (the “Company“) (CSE: BLLG)(FSE:7BL)(OTCQB: BLAGF) is pleased to announce that it has added a second drill rig to the current drill program on its Dome Mountain Gold Project – a year-round accessible property located a short 50-minute drive from Smither B.C.
On January 11, 2021, the Company announced the start of its 20,000-meter drill program of which 7,176.5 meters were completed by March 29, 2021. The start of the Company’s Phase Two drill program, announced on June 14, 2021, to which a second drill rig has been added, will consist of approximately 12,500 meters.
“Our entire technical team is working very hard, excited and focused on advancing the Dome Mountain Gold Project as rapidly as possible in order to increase shareholder value on this highly prospective large land package of nearly 19,000 hectares, 90% of which has yet to be explored,” said Rana Vig, President and CEO of Blue Lagoon Resources. “Currently our site is a hub of activity with one crew in the field working on collecting soil samples and prospecting; another crew working underground extracting 6,000 plus tonnes of mineralized material and loading trucks daily and sending them to our toll mill partner Nicola Mining; and now two crews working on two drill rigs that are currently focused on drilling targets at Freegold,” he added.
This phase of the drilling continues to target geophysical, gold in soils and high-grade vein targets on the Freegold showing which is of particular interest because it not only includes historically sampled high-grade quartz-carbonate veins and underground workings but also results from the Company’s 2020 Airborne Geophysical survey (the first property-wide survey ever conducted on the property) clearly defined that the Freegold veins are hosted within a potential Cu porphyry-style Mag anomaly hosted within a distinct intrusive and located along the southeast end of prominent Mag high linear.
DRILL RIG NUMBER ONE
Drill rig one has been drilling on the east margin of the MAG high at Freegold (figure 1). The first hole was drilled at 260-degree azimuth to cut the MAG high. Lithologies encountered include QFP and slightly to moderately magnetic volcanic including strong local epidote-magnetite alteration. The second hole from the same pad is currently drilling and targeting the off margin of the MAG high where soil samples collected in 2020 show anomalous values in gold, silver, antimony, copper and bismuth.
DRILL RIG NUMBER TWO
Drill rig two is now collared just south of the NW trending high grade veins on Freegold and drilling NE to intercept the SE extension of those veins (figure 1). Historic values are one ounce plus per tonne and last year’s rock sampling on their surface exposure highlighted their anomalous nature including 53.2 g/t Au; 14.1 g/t Au; 90.6 g/t Au; and 59 g/t Ag; 61.5 g/t Ag and 129 g/t Ag respectively (see press release dated January 18, 2021).
INVESTOR RELATIONS AND MARKETING AGREEMENT
The Company also announces that it has entered into an investor relations and marketing agreement with Wallace Hill Partners Ltd., (“WHP“) a Vancouver B.C. company. WHP will provide financial publishing and digital marketing services to the Company and, Pursuant to the agreement, will raise public awareness of the Company, including its social media presence, and will promote the Company’s business. The agreement is for an initial term of one year at a cost of US$200,000.
The scientific and technical data contained 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:
President and Chief Executive Officer Telephone: 604-218-4766
SOURCE: Blue Lagoon Resources Inc.