Featured Company /
Blue Star Gold Corp.
The Witwatersrand Gold Rush in the late 19th Century was the biggest ever seen, as prospectors from all around the world flocked to exploit the rich deposits of South Africa. 130 years later, more than 2 billion ounces of gold have been mined from Witwatersrand, equating to 40-50% of all the gold produced globally in that time frame.
No one knows if there will ever be another Witwatersrand on Earth, but there could be. According to some scientists, there are “striking” similarities to the scale and geologic setting of the deposits of Witwatersrand and those halfway around the world to the north near Canada’s Arctic Coast, about 155 kilometers southeast of Kugluktuk in Nunavut.
Not far from that discovery, Nunavut is alive with mining and exploration activity. Notably, Agnico Eagle (TSX:AEM) (NYSE:AEM)
Both Hope Bay and Back River Belts have been significantly explored to prove expansive gold resources. What is particularly interesting is a third point in a Nunavut triangle to the west of these greenstone belts called the High Lake Belt. This is the area of focus of Blue Star Gold Corp. (TSX-Venture:BAU) (OTCPK:BAUFF)
Drilling Equals Gold Resource
There is no doubt that value is found in the drill bit of explorers. All the talk in the world about neighboring projects, historical production, management’s experience, and infrastructure doesn’t amount to anything if drilling doesn’t assay strongly. Period. Explorers drilled and drilled at Back River and Hope Bay, and continue to expand their resources.
Over 801,000 meters have been drilled at Back River, according to a Mineral Resource estimate of Sabina Gold & Silver (TSX:SBB) (OTCQX:SGSVF)
TMAC’s 43-101 report on Hope Bay showed 21.82 MT at 7.4 g/t gold for 5.17 million ounces of gold Measured and Indicated and 10.92 Mt at 6.1 g/t gold Inferred for 2.13 million ounces of gold. Therefore, 788,000 meters of drilling showed 7.3 million ounces of gold.
At High Lake, drilling is comparatively at an earlier stage than Back River or Hope Bay, but the correlation looks similar. Blue Star’s Ulu project at High Lake is the subject of an extensive dataset of sampling, geophysics, underground drilling data, 1.7 kilometers of underground development, and over 100,000 meters of diamond drilling. According to a 2015 technical report on Ulu 108,000 meters of drilling showed 2.5 Mt at 7.5 g/t gold Measured and Indicated for 605,000 ounces of gold and another 1.3 Mt at 5.6 g/t gold Inferred for 225,000 ounces of gold. In simple terms, 108,000 meters of drilling resulted in 830,000 ounces of gold.
The image below is an easy visual for these projects.
Investors will also be watching for more drilling and resources to help build Blue Star’s market capitalization, which stands around only C$33 million presently. Blue Star’s bigger brethren of Sabina and Agnico Eagle have valuations of C$553.1 million and C$18.8 billion, respectively.
Biggest Land Holder
Blue Star is the largest title holder in the High Lake Belt, controlling over 20,000 hectares. The company’s projects bookend a large portion of land under a prospecting permit held by Agnico Eagle. The Ulu project and adjacent Hood River project are to the south, while the Roma projects (Main claim, MEA and North claim block) are located to the north. The Roma claims were acquired in February, adding 7,700 hectares (and 4,000 hectares via MEA application in process) to the portfolio to create a district-scale project.
Numerous high-grade gold showings and zones were discovered at the Roma claims in the 1990's with little to no follow-up work conducted. Grab samples up to 126 g/t gold and chip samples up to 24 g/t gold over 1.5 meters have been recorded. Limited shallow drilling (10 holes for 465 m) returned 12.38 g/t gold over 2.31 meters and 8.69 g/t gold over 1.87 meters.
The Flood and Gnu zones of the 950-hectare Ulu provided the data undergirding the aforementioned 830,000 ounces of gold. The two relatively small areas could represent a mere microcosm of what the broader land package hosts for Blue Star, particularly at the adjoining Hood River property, which has the same deformation history (including tight folding), multiple known targets and identified gold showings.
First to Use GIS
Blue Star is taking a methodical approach using modern technologies to minimize risk and maximize returns on its projects. The company is taking all available data to create a GIS (geographic information system) database. The company is digitizing historic geology maps, structural data, drill data and much more to generate 2-dimensional and 3-dimensional models to better understand the geology and mineralization trends. This is technology not available to historic explorers and will help considerably in identifying drill targets to build the resource.
This digital compilation into 3D has allowed for identification of likely controls on gold transport and localization at Ulu. Much of this data becomes highly technical and the topic of table talk for P.Geo’s, such as understanding the fluid focus along a fold axis or capture of fluid by planar quartz feldspar porphyry dikes, but the long-and-short in retail terms is it points to where the gold collected over hundreds of millions of years of evolution.
Speaking of, retail shareholders are the smallest demographic in ownership of Blue Star. Management and the board of directors hold 44% of the company’s stock (50.2 million outstanding, 54.98 million fully diluted). Funds and high net worth investors are a close second, holding 42%, leaving only 14% for retail investors at this point to get a piece of Blue Star.
Laser Focused
With 20,000+ hectares to consider, it could be quite easy to get distracted. Blue Star is staying focused on systematic advancement. 7,621 meters were drilled in 38 diamond drill holes during the 2020 program. 10 holes were drilled at the Ulu and Gnu Zone deposits to expand known resources and provide data for resource modeling, and 28 holes were drilled to test exploration targets on both the Ulu and Hood River properties, including 14 in the North Fold Nose (NFN) Zone.
One fold of high priority for Blue Star begins at the Flood Zone deposit and travels north six kilometers to NFN, in addition to being open to the south. Discoveries have been found across many of the seven known zones in this fold, including 52.7 g/t gold across 2 meters, 20.69 g/t gold over 1.16 meters, 25.63 g/t gold over 1.54 meters, and 177 g/t gold in a surface sample.
In July, a 5,000+ meter, multi-drill diamond drill program commenced focusing on Ulu and Hood River. To fund this work, Blue Star completed a non-brokered private placement raising gross proceeds of +$8 million last month.
Objectives of this year's program include better understanding the controls of higher-grade zones within the structures, evaluating additional structures on and adjacent to the Ulu fold hinge, and expanding and infilling previously known but poorly interpreted mineralized zones. Secondary priorities are also being considered that will provide valuable insight in the northern part of the Ulu fold and in a fold in the eastern part of Hood River between the Pro and Crown zones.
While drilling is happening, Blue Star’s team will continue detailed geophysics and prospecting to refine targets for additional testing next year in other areas of its properties, giving investors plenty to look forward to in the near future as the company aims to prove that the High Lake Belt is on par with Hope Bay and Back River.
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Corporate Snapshot:
Blue Star Gold Corp.
Stock Symbol:
CA
Stock Exchange:
TSX-Venture
Sector:
Natural Resources
52 Week High:
$1.2000
52 Week Low:
$0.5500
Alt Exchange/Ticker:
OTCPK:BAUFF
Current Stock Quote / Chart / News: Click here
Information as of
August 31, 2021
The Witwatersrand Gold Rush in the late 19th Century was the biggest ever seen, as prospectors from all around the world flocked to exploit the rich deposits of South Africa. 130 years later, more than 2 billion ounces of gold have been mined from Witwatersrand, equating to 40-50% of all the gold produced globally in that time frame.
No one knows if there will ever be another Witwatersrand on Earth, but there could be. According to some scientists, there are “striking” similarities to the scale and geologic setting of the deposits of Witwatersrand and those halfway around the world to the north near Canada’s Arctic Coast, about 155 kilometers southeast of Kugluktuk in Nunavut.
Not far from that discovery, Nunavut is alive with mining and exploration activity. Notably, Agnico Eagle (TSX:AEM) (NYSE:AEM)
Both Hope Bay and Back River Belts have been significantly explored to prove expansive gold resources. What is particularly interesting is a third point in a Nunavut triangle to the west of these greenstone belts called the High Lake Belt. This is the area of focus of Blue Star Gold Corp. (TSX-Venture:BAU) (OTCPK:BAUFF)
Drilling Equals Gold Resource
There is no doubt that value is found in the drill bit of explorers. All the talk in the world about neighboring projects, historical production, management’s experience, and infrastructure doesn’t amount to anything if drilling doesn’t assay strongly. Period. Explorers drilled and drilled at Back River and Hope Bay, and continue to expand their resources.
Over 801,000 meters have been drilled at Back River, according to a Mineral Resource estimate of Sabina Gold & Silver (TSX:SBB) (OTCQX:SGSVF)
TMAC’s 43-101 report on Hope Bay showed 21.82 MT at 7.4 g/t gold for 5.17 million ounces of gold Measured and Indicated and 10.92 Mt at 6.1 g/t gold Inferred for 2.13 million ounces of gold. Therefore, 788,000 meters of drilling showed 7.3 million ounces of gold.
At High Lake, drilling is comparatively at an earlier stage than Back River or Hope Bay, but the correlation looks similar. Blue Star’s Ulu project at High Lake is the subject of an extensive dataset of sampling, geophysics, underground drilling data, 1.7 kilometers of underground development, and over 100,000 meters of diamond drilling. According to a 2015 technical report on Ulu 108,000 meters of drilling showed 2.5 Mt at 7.5 g/t gold Measured and Indicated for 605,000 ounces of gold and another 1.3 Mt at 5.6 g/t gold Inferred for 225,000 ounces of gold. In simple terms, 108,000 meters of drilling resulted in 830,000 ounces of gold.
The image below is an easy visual for these projects.
Investors will also be watching for more drilling and resources to help build Blue Star’s market capitalization, which stands around only C$33 million presently. Blue Star’s bigger brethren of Sabina and Agnico Eagle have valuations of C$553.1 million and C$18.8 billion, respectively.
Biggest Land Holder
Blue Star is the largest title holder in the High Lake Belt, controlling over 20,000 hectares. The company’s projects bookend a large portion of land under a prospecting permit held by Agnico Eagle. The Ulu project and adjacent Hood River project are to the south, while the Roma projects (Main claim, MEA and North claim block) are located to the north. The Roma claims were acquired in February, adding 7,700 hectares (and 4,000 hectares via MEA application in process) to the portfolio to create a district-scale project.
Numerous high-grade gold showings and zones were discovered at the Roma claims in the 1990's with little to no follow-up work conducted. Grab samples up to 126 g/t gold and chip samples up to 24 g/t gold over 1.5 meters have been recorded. Limited shallow drilling (10 holes for 465 m) returned 12.38 g/t gold over 2.31 meters and 8.69 g/t gold over 1.87 meters.
The Flood and Gnu zones of the 950-hectare Ulu provided the data undergirding the aforementioned 830,000 ounces of gold. The two relatively small areas could represent a mere microcosm of what the broader land package hosts for Blue Star, particularly at the adjoining Hood River property, which has the same deformation history (including tight folding), multiple known targets and identified gold showings.
First to Use GIS
Blue Star is taking a methodical approach using modern technologies to minimize risk and maximize returns on its projects. The company is taking all available data to create a GIS (geographic information system) database. The company is digitizing historic geology maps, structural data, drill data and much more to generate 2-dimensional and 3-dimensional models to better understand the geology and mineralization trends. This is technology not available to historic explorers and will help considerably in identifying drill targets to build the resource.
This digital compilation into 3D has allowed for identification of likely controls on gold transport and localization at Ulu. Much of this data becomes highly technical and the topic of table talk for P.Geo’s, such as understanding the fluid focus along a fold axis or capture of fluid by planar quartz feldspar porphyry dikes, but the long-and-short in retail terms is it points to where the gold collected over hundreds of millions of years of evolution.
Speaking of, retail shareholders are the smallest demographic in ownership of Blue Star. Management and the board of directors hold 44% of the company’s stock (50.2 million outstanding, 54.98 million fully diluted). Funds and high net worth investors are a close second, holding 42%, leaving only 14% for retail investors at this point to get a piece of Blue Star.
Laser Focused
With 20,000+ hectares to consider, it could be quite easy to get distracted. Blue Star is staying focused on systematic advancement. 7,621 meters were drilled in 38 diamond drill holes during the 2020 program. 10 holes were drilled at the Ulu and Gnu Zone deposits to expand known resources and provide data for resource modeling, and 28 holes were drilled to test exploration targets on both the Ulu and Hood River properties, including 14 in the North Fold Nose (NFN) Zone.
One fold of high priority for Blue Star begins at the Flood Zone deposit and travels north six kilometers to NFN, in addition to being open to the south. Discoveries have been found across many of the seven known zones in this fold, including 52.7 g/t gold across 2 meters, 20.69 g/t gold over 1.16 meters, 25.63 g/t gold over 1.54 meters, and 177 g/t gold in a surface sample.
In July, a 5,000+ meter, multi-drill diamond drill program commenced focusing on Ulu and Hood River. To fund this work, Blue Star completed a non-brokered private placement raising gross proceeds of +$8 million last month.
Objectives of this year's program include better understanding the controls of higher-grade zones within the structures, evaluating additional structures on and adjacent to the Ulu fold hinge, and expanding and infilling previously known but poorly interpreted mineralized zones. Secondary priorities are also being considered that will provide valuable insight in the northern part of the Ulu fold and in a fold in the eastern part of Hood River between the Pro and Crown zones.
While drilling is happening, Blue Star’s team will continue detailed geophysics and prospecting to refine targets for additional testing next year in other areas of its properties, giving investors plenty to look forward to in the near future as the company aims to prove that the High Lake Belt is on par with Hope Bay and Back River.
About AllPennyStocks.com:
AllPennyStocks.com Media, Inc., founded in 1999, is one of North America’s largest and most comprehensive small-cap / penny stock financial portals. With Canadian and U.S. focused penny stock features and content, the site offers information for novice investors to expert traders. Outside of the countless free content available to visitors, AllPennyStocks.com Pro (premium service) caters to traders looking for that trading edge by offering stock picks, daily penny stock to watch trade ideas, market commentary and more.
As a result of its commitment to journalistic excellence and abundance of information in a particular area of equity investing (micro-cap investing) where there aren’t many credible sources of information, AllPennyStocks.com continues to have one of the largest audiences of micro-cap investors on the internet.
Forward Looking Statements
This report includes forward-looking statements that reflect current expectations about its future results, performance, prospects and opportunities. Blue Star Gold Corp. has tried to identify these forward-looking statements by using words and phrases such as "may," "will," "expects," "anticipates," "believes," "intends," "estimates," "plan," "should," "typical," "preliminary," "we are confident" or similar expressions. These forward-looking statements are based on information currently available and are subject to a number of risks, uncertainties and other factors that could cause Blue Star Gold Corp.'s actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and other factors include, without limitation, the Company's growth expectations and ongoing funding requirements, and specifically, the Company's growth prospects with scalable customers, and those outlined above. Other risks include the Company's limited operating history, the Company's history of operating losses, consumers' acceptance, the Company's use of licensed technologies, risk of increased competition, the potential need for additional financing, the terms and conditions of any financing that is consummated, the limited trading market for the Company's securities, the possible volatility of the Company's stock price, the concentration of ownership, and the potential fluctuation in the Company's operating results.
Disclaimer
AllPennyStocks.com feature stock reports are intended to be stock ideas, NOT recommendations. Please do your own research before investing. It is crucial that you at least look at current SEC filings and read the latest press releases. Information contained in this report was extracted from current documents filed with the SEC, the company web site and other publicly available sources deemed reliable. For more information see our disclaimer section, a link of which can be found on our web site. This document contains forward-looking statements, particularly as related to the business plans of the Company, within the meaning of Section 27A of the Securities Act of 1933 and Sections 21E of the Securities Exchange Act of 1934, and are subject to the safe harbor created by these sections. Actual results may differ materially from the Company's expectations and estimates. This is an advertisement for Blue Star Gold Corp. The purpose of this advertisement, like any advertising, is to provide coverage and awareness for the company. The information provided in this advertisement is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation or which would subject us to any registration requirement within such jurisdiction or country.
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