お知らせ • May 25
Blue Lagoon Resources Inc. Sees Potential for 1M+ Ounces Gold Along Boulder Vein
Blue Lagoon Resources Inc. provided a thorough interpretation of exploration results from recent work conducted at its 100% owned Dome Mountain Project, a short 50-minute drive from Smithers, British Columbia and accessible year-round. The Dome Mountain Project covers an historical area of precious metal bearing veins centred on the past-producing Dome gold-silver mine which exploited the Boulder Main vein (1989-1992). The Project area is predominantly underlain by the Lower to Middle Jurassic Hazelton Group Island arc assemblage. The Telkwa Formation, at the base of the Hazelton Group, is the thickest and most extensive formation. The Nilkitkwa Formation conformably to unconformably overlies the Telkwa Formation and is an important host for mineral occurrences. Almost 90,000 meters of drilling in 596 drill holes have been completed on the Property since 1985. Since 2020, the Company has completed 48,974 meters of drilling in 187 drill holes). The Boulder Main Vein, as well as its subsidiary veins, are characterized by quartz with lesser carbonate and sulphide mineralization. Past deposit models considered the veins as mesothermal, but some characteristics of the deposit style suggest a quartz carbonate hosted base metal rich gold-silver vein system. Quartz-carbonate veins lacking sulphides are typically barren with respect to gold and silver. Quartz occurs both as white and massive or as clear and translucent and associated with higher gold grades. Carbonate minerals (ankerite, siderite and calcite) occur as cream to beige crystals. Small scale folds in the veins attest to continued movement after their formation. Sulphide minerals in the Boulder Vein constitute approximately 10% of the vein mineralogy but can range to over 50%. In decreasing order of abundance, the sulphide minerals are pyrite (6%), sphalerite (2.5%), chalcopyrite (1%), and galena-tetrahedrite-arsenopyrite (<1%). Pyrite occurs as fine euhedral cubic crystals disseminated throughout the wall rock alteration and in quartz veins as blebs, stringers and massive selvages. In the upper portion of the Boulder Main vein gold values correlate well with zinc and/or galena. Recent deep intercepts also show increasing copper content. The overall carbonate content can rage as high as 30% and underlies the unit as a natural pH buffer and non-acid generating (NAG) system. Through the initial programs of infill drilling the Company was able to increase the total gold ounces in the indicated category by 145%, or 102,582 ounces. In addition, 45,000 ounces of gold were moved into the measured category, which was a first for the project. he Boulder Main Vein resource has a strike length of 530 meters and 200 meters down dip. Drilling to date has tested strike in both directions and down dip another 200 meters and has successfully shown the Boulder Vein mineralization continues for at least another 550 meters along strike (200+ meters west and 350+ meters east) and, 200+ meters down dip. Though sufficient infill drilling has not yet been completed to define the much larger resource, company geologists conclude that the drilling outlines potential for at least 1 million ounces gold and over 4 million ounces silver. In addition, deep holes at depth such as DM-22-273 showing increasing significance of copper mineralization (5.73 g/t Au, 80.9 g/t Ag and 1.21% Cu over 16.55 meters; including 5.65 meters returning 11.02 g/t Au, 115.8 g/t Ag and 2.31% Cu. The next phase(s) drilling will focus on expanding the known mineralization further along strike and at depth. The identification of zones of wide, well-mineralized veins in all directions indicates the ability to continue to grow the resource quickly (Figure 3, yellow). Successful on-strike and down-dip drilling in the next phase(s) would indicate the potential of an additional resource of 1M+ ounces Au resulting in a total potential deposit resource of 2M+ ounces Au. Infill drilling would commence and be paid for by funds generated from production of the Boulder Vein (currently in permitting) in order to upgrade the resource estimate. The Flat Chance vein was discovered in the Chance Structural Zone. This area is located less than a kilometer north of the Dome mine site. Drilling to date has defined a shallow-dipping, gold (±silver) vein-hosting structure approximately 100 meters below surface (see News Release dated September 19, 2022). A strike length of 400 meters and a down-dip extent of 400 meters has been defined by drilling (44 drill holes, 8,519 meters). Thickness of the vein and structural zone can vary from < 1 meter to over 5 meters. Gold grades are typically in the 1 to 3 g/t Au range over the entire width, but high-grade intersections (e.g., DM-21-200, 22.12 g/t Au over 2.14 meters) are noted in multiple drill holes. Visible gold was observed in drill hole DM-21-206. The Flat Chance vein remains open to the west and north. The Forks vein was the first identified mineralization in the Dome Mountain area and was explored and mined utilizing a shaft and several adits (ca. 1923). Drilling in 1985 by Noranda defined an historical resource of 20,000 tons at 23.6 g/t Au (EMPR Fieldwork 1986, page 212). The mineralization in the 9800 Zone demonstrated strong gold and silver grades and was briefly mined with 50.8 tonnes of ore shipped grading 30.17 g/t Au and 771.4 g/t Ag. These prospects are located approximately 500 meters southwest of the 1290 portal of the Dome mine. Drilling throughout the area, both historically and recently, indicates a flat-lying, relatively shallow precious and base metal enriched horizon occurring at the same stratigraphic level within the lower portion of the limy argillaceous siltstones of the Nilkitkwa Formation. This horizon is recognized over a minimum of 250 meters length and 200 meters width. The horizon is variable in thickness with mineralized intersections ranging from 0.25 meters to 5 meters. It appears that the mineralization may be related to the Forks mineralization, which is hosted in a large breccia up to 12 meters thick, dipping shallow to the northeast. Sulphide mineralogy and lithology is also comparable to the Argillite Vein, a splay off the Boulder Main Vein, although no direct connection has been established yet between these occurrences. Additional drilling is required in this area to fully assess the resource potential. A series of short (<50 meters) drill holes could expand and infill the area at 50-meter spacings or better.