VANCOUVER, BC / ACCESSWIRE / June 14, 2021 / Blue Lagoon Resources Inc. (the "Company") (CSE:BLLG) (FSE:7BL) (OTCQB:BLAGF) is pleased to announce that a crew has been mobilized to commence its Phase Two 2021 drill program on the Company's all year-round road accessible Dome Mountain Gold Project, located a short 50-minute drive from Smithers, British Columbia. A continuation of the 20,000-meter drill program announced in January 2021, the Phase 2 program is expected to be a minimum of 12,500 meters of diamond drilling.
The Phase Two drilling, which starts today, will begin by targeting geophysical, gold in soils and high-grade vein targets on the Freegold showing. The Freegold Showing 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 Cu porphyry style Mag anomaly hosted within a distinct intrusive and located along the southeast end of prominent Mag high linears. Drill holes will not only target the veins but also test the MAG depleted zone at depth.
"We are very excited to kick off this Phase Two drilling at Dome Mountain" said Bill Cronk, Chief Geologist of Blue Lagoon Resources." We are jumping off the Boulder Vein System and resource to look for and define further targets on our property that will add considerable value to Blue Lagoon as a growing company. Freegold as a priority drill target is very exciting as historically sampled high grade gold veins sitting above a Cu porphyry type geophysical target in addition to anomalous multi-element pathfinders in soils creates several compelling targets for us. As the summer progresses, we will be very busy following up with more drilling in areas prioritized by boots on the ground exploration and, amongst some of the already defined high grade gold occurrences documented on the Dome Mountain Gold Property," he said.
Figure 1 Location of Proposed Drill Holes located on MAG image of entire Dome Mountain Gold Project property
PHASE TWO DRILLING
The first hole of the Phase Two drill program will be drilled from the southeast margin of the Freegold Intrusive in hole DM-21-172 (see figure 2 and 3). This hole is designed to test not only the margin of the intrusive with coincident soils anomalies, but to also test the mag depleted core of the intrusive at depth. Two holes will be drilled from this setup: one at a -45 degree angle and another at a -65 degree angle. Depending upon results this pad location will be undercut by another set of holes starting in line and 100 meters back as a true fence.
All holes will provide oriented NQ core.
Figure 2 Focus on proposed Drilling at Freegold with proposed drill holes located on MAG with 2020 GOLD in soils
Figure 3 Focus on Freegold with proposed drilling on MAG with 2020 COPPER in soils
The scientific and technical disclosure 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:
Rana Vig
President and Chief Executive Officer
Telephone: 604-218-4766
Email: rana@ranavig.com
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Statement Regarding Forward-Looking Information: This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that Blue Lagoon Resources Inc. (the "Company") expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include results of exploration activities may not show quality and quantity necessary for further exploration or future exploitation of minerals deposits, volatility of gold and silver prices, and continued availability of capital and financing, permitting and other approvals, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
SOURCE: Blue Lagoon Resources Inc.
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