Crystal Lake Outlines Large-Scale Copper-Gold-Rich System at Burgundy Ridge as Crews Prepare for Diamond Drilling
Momentum Public Relations
Press Release: July 16, 2019
Crystal Lake Mining Corporation (TSXV: CLM) (OTC Pink: SIOCF) (FSE: SOG-FF)(“Crystal Lake” or the “Company“) is pleased to announce that its ongoing Phase 1 exploration program has greatly expanded the target area at Burgundy Ridge, the newest drilling discovery in Northwest B.C.’s prolific Eskay Camp based on four shallow first-ever drill holes (reverse circulation) during winter conditions last fall (see March 7, 2019 news release).
Crews will be mobilizing for the maiden diamond drilling program at Burgundy Ridge during the week of July 22 to aggressively broaden this discovery (high-grade copper plus gold, silver, cobalt and zinc) laterally and at depth.
Highlights
- Mapping, prospecting, sampling and hyperspectral analysis have delineated a large 2 km x 2.5 km porphyry and skarn-style system open in multiple directions;
- The Burgundy Ridge system features multiple “hot spots” including a significant new surface discovery 600 metres west-southwest of October’s copper-gold-rich intersections – a k-spar epidote altered and brecciated intrusion containing disseminated copper sulphides in a high temperature alteration zone;
- High-grade mineralization at Burgundy Ridge occurs within breccias and intrusive dykes that are structurally controlled along the margin of a large dolomitic limestone body which has been intruded by a variety of porphyries (a 3-metre chip sample by Romios Gold in 2013, which should not be considered representative of mineralization in the target area, returned 5.1% Cu, 28.5 g/t Au and 89.7 g/t Ag).
Dr. Peter Lightfoot, Crystal Lake Technical Advisor, commented: “The data increasingly suggest that there is large-scale development at Burgundy Ridge of alkaline porphyritic stockwork vein systems with breccias. These are very messy alkalic porphyries – exactly the right type of rocks – and they are associated with carbonate-bearing country rocks.
Crystal Lake Mining’s Technical Advisor Dr. Peter Lightfoot Comments on the ‘impressive fluid highway’ indicative at the Newmont Lake project in the Eskay Camp, British Columbia
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/6406/46321_75b68f75a44e1a9c_002full.jpg
“Tight correlations between copper and silver, copper and gold, and copper and cobalt are indicative of significant and coherent underlying mineralization processes at Burgundy Ridge, driven in part by an impressive fluid highway,” Dr. Lightfoot concluded.
Newmont Lake Project General Update
Crystal Lake will commence its 2019 drilling at the Burgundy Ridge discovery while highly prospective targets elsewhere throughout the 550 sq. km (55,000 hectare) project, including the newly-defined Chachi Corridor, continue to be systematically explored and advanced with details expected shortly as more data becomes available.
- To date, within the last six weeks, over 4,000 rock and soil samples have been collected throughout the project and have been shipped for assay (includes an intensive chip sampling campaign for hyperspectral vectoring);
- Lithological and alteration mapping on the highest priority prospects has been carried out by 35-year Golden Triangle veteran Marco Vanwermeskerken who mapped the Eskay Creek deposit pre-to-post discovery;
- A broad scale geophysics program, including both ground and airborne methods, will soon be launched by Wolcott & Associates Geophysical Services.
Richard Savage, President and CEO of Crystal Lake, stated: “We are ready to leverage the hard work and expertise of our discovery-driven teams who have done a remarkable job to position shareholders for a summer to remember in the Eskay Camp. We’ve got the right people in the right area at the right time – drilling starts with bullseye targets at Burgundy Ridge to immediately expand the district’s newest discovery.”
Qualified Person
The technical information in this news release has been reviewed and approved by Mr. Maurizio Napoli, P. Geo., VP Exploration for Crystal Lake Mining, a Qualified Person responsible for the scientific and technical information contained herein under National Instrument 43-101 standards.
About Crystal Lake Mining
Crystal Lake Mining is a Canadian-based junior exploration company focused on building shareholder value through high-grade discovery opportunities in British Columbia and Ontario. The Company has an option to earn a 100% interest in the Newmont Lake Project, one of the largest land packages among juniors in the broader Eskay region in the heart of Northwest B.C.’s Golden Triangle.
On Behalf of the Board of Directors,
CRYSTAL LAKE MINING CORP.
“Richard Savage”
President & CEO
Email: info@crystallakemining.com
crystallakemining.com
For further information please contact:
Momentum Public Relations
Tel: +1 (514) 815-7473
Email: mark@momentumpr.com
- Published in Crystal Lake Mining, Mining, News Home
Underground Channel Sampling Delivers 20.4 meters grading 18.9 g/t Au & 33 g/t Ag
Momentum Public Relations
Press Release: July 9, 2019
Bluestone Resources Inc. (TSXV: BSR) (OTCQB: BBSRF) (“Bluestone” or the “Company”) is pleased to announce channel sampling results taken across high-grade veins exposed in a recently opened cross-cut located in the North Zone of the Cerro Blanco underground workings. The samples were taken as horizontal channels perpendicular to the strike of the veins.
Cross-cut N734 was sealed off by the previous operator in 2015, but Bluestone recently re-opened and restored the initial 50 meters of tunnel as part of the Company’s successful ongoing exploration and underground development program. Channel sampling of both walls returned the following high-grade assays:
South Wall – 20.4 meters grading 18.9 g/t Au and 33 g/t Ag (est. true width 16.7 meters)
North Wall – 19.9 meters grading 17.1 g/t Au and 23 g/t Ag (est. true width 16.9 meters)
David Cass, Vice President of Exploration commented, “The successful re-opening of this exploration drive has permitted sampling of several key veins within the upper portion of the Cerro Blanco resource and helped validate their importance within the current resource model. These impressive high-grade assays are consistent with our sampling early last year of the same veins lower down in the main decline of the North Ramp some 50 meters away. The continuity and consistency of vein widths and grades is striking and supports our observations from the ongoing infill resource conversion drilling as we continue to advance our knowledge of the Cerro Blanco orebody and de-risk the project.”
A summary of results is shown in Table 1 below. A full set of individual assays, plans and photos showing the location of samples can be accessed here.
Table 1. Channel Sample Results
SOUTH WALL | |||||||||||
Sample # | Sample Width (m) |
True Width (m) |
Au g/t | Ag g/t | Vein ID | ||||||
RCB-3655 | 1.0 | 1.0 | 9.8 | 15.9 | VN-02 | ||||||
RCB 3570,3656 | 1.9 | 1.9 | 4.8 | 24.8 | NEW | ||||||
RCB 3657 | 1.0 | 1.0 | 16.7 | 19.6 | VN-03 | ||||||
RCB 3599-3609 | 7.5 | 7.0 | 19.4 | 25.2 | VN_05 | ||||||
inc. | 1.9 | 1.8 | 38.7 | 39.6 | |||||||
RCB 3612-13 | 2.0 | 1.8 | 6.9 | 16.9 | VN_06 | ||||||
RCB 3615-24 | 8.4 | 8.0 | 26.7 | 53 | VN_07 | ||||||
inc. | 1.3 | 1.2 | 98.8 | 197 | |||||||
20.4 | 16.7 | 18.9 | 33.2 | VN_05,06,07 |
NORTH WALL | |||||||||||
Sample # | Sample Width (m) |
True Width (m) |
Au g/t | Ag g/t | Vein ID | ||||||
RCB 3596 | 1.0 | 1.0 | 13.5 | 32.8 | VN_02 | ||||||
RCB3594 | 1.0 | 1.0 | 49.8 | 227 | VN_03 | ||||||
RCB 3625-32 | 7.8 | 7.3 | 21.0 | 25.8 | VN_05 | ||||||
inc. | 1.8 | 1.7 | 52.3 | 48.1 | |||||||
RCB 3635-36 | 2.3 | 2.2 | 5.1 | 15.3 | VN_06 | ||||||
RCB-3638-46 | 7.9 | 7.5 | 20.7 | 26.9 | VN_07 | ||||||
inc. | 1.3 | 1.2 | 77.2 | 63.6 | |||||||
19.9 | 16.9 | 17.1 | 23 | VN_05,06,07 |
A total of 47 samples were taken with a portable rock saw across exposures of five key veins VN-02, 03, 05, 06, and 07 as continuous channels approximately two inches wide and one inch deep. Individual sample widths ranged from 0.5 meter to 1.4 meters. Veins are parallel and dip between 60 to 65 degrees and consist of banded chalcedony quartz-adularia veins hosted within red siltstones. Assay results are in line with those previously reported from exposures of the same veins in the North Ramp (see Company press releases January 23, 2018 and April 9, 2018).
Sampling of the underground workings at Cerro Blanco continues to play a key role in identification of high-grade veins and in the validation of the geological model within and outside of the current resource envelope. Several additional veins are known to occur further east along the same cross-cut and will be sampled as rehabilitation of the cross-cut progresses.
Precious metal mineralization at Cerro Blanco is associated with classic low sulphidation adularia-sericite epithermal quartz veins and vein swarms hosted in altered sequence of volcanoclastic and sedimentary rocks. Higher grades (>20 g/t Au and >60 g/t Ag) are associated with visible gold and silver sulphides in ginguro-style colloform-banded veins.
Quality Analysis and Quality Control
Wire mesh was removed from sections to be sampled and walls cleaned by high-pressure power washing. Assay results were performed by Inspectorate Laboratories (“Inspectorate”), a division of Bureau Veritas, which are ISO 17025 accredited laboratories. Sampling was undertaken on site at Cerro Blanco by Company personnel under a QA/QC protocol developed by Bluestone under the supervision of David Cass, Qualified Person for Bluestone. Samples are transported in security-sealed bags to Inspectorate, Guatemala City, Guatemala, for sample preparation. Sample pulps are shipped to Inspectorate Laboratories in Vancouver, BC, Canada or Reno, NV, USA, and assayed using industry-standard assay techniques for gold and silver. Gold and silver were analysed by a 30-gram charge with atomic absorption and/or gravimetric finish for values exceeding 5 g/t Au and 100 g/t Ag. Analytical accuracy and precision are monitored by the analysis of reagent blanks, reference material, and replicate samples. Quality control is further assured by Bluestone’s QA/QC program, which involves the insertion of blind certified reference materials (standards) and field duplicates into the sample stream to independently assess analytical precision and accuracy of each batch of samples as they are received from the laboratory. Additionally, pulps and coarse rejects are routinely submitted to ALS Chemex Laboratories in Vancouver for check analysis and additional quality control.
Qualified Person
David Cass, P.Geo., Vice President Exploration, is the designated Qualified Person for this news release within the meaning of National Instrument 43-101 and has reviewed and verified that the technical information set out above in this news release is accurate and therefore approves this written disclosure of the technical information.
About Bluestone Resources
Bluestone Resources is a mineral exploration and development company that is focused on advancing its 100%-owned Cerro Blanco Gold and Mita Geothermal projects located in Guatemala. A Feasibility Study on Cerro Blanco returned robust economics with a quick pay back. The average annual production is projected to be 146,000 ounces per year over the first three years of production with all-in sustaining costs of $579/oz (as defined per World Gold Council guidelines, less corporate general and administration costs). The Company trades under the symbol “BSR” on the TSX Venture Exchange and “BBSRF” on the OTCQB.
On Behalf of Bluestone Resources Inc.
“Darren Klinck”
Darren Klinck | President, Chief Executive Officer & Director
For further information, please contact:
Bluestone Resources Inc.
Stephen Williams | VP Corporate Development & Investor Relations
Phone: +1 604 646 4534
info@bluestoneresources.ca
www.bluestoneresources.ca
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
This press release contains “forward-looking information” within the meaning of Canadian securities legislation and “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 (collectively, “forward-looking statements“). All statements, other than statements of historical fact, that address activities, events or developments that Bluestone Resources Inc. (“Bluestone” or the “Company“) believes, expects or anticipates will or may occur in the future including, without limitation: the conversion of the inferred mineral resources; increasing the amount of measured mineral and indicated mineral resources; the proposed timeline and benefits of further drilling; the proposed timeline and benefits of the Feasibility Study; statements about the Company’s plans for its mineral properties; Bluestone’s business strategy, plans and outlook; the future financial or operating performance of Bluestone; capital expenditures, corporate general and administration expenses and exploration and development expenses; expected working capital requirements; the future financial estimates of the Cerro Blanco Project economics, including estimates of capital costs of constructing mine facilities and bringing a mine into production and of sustaining capital costs, estimates of operating costs and total costs, net present value and economic returns; proposed production timelines and rates; funding availability; resource estimates; and future exploration and operating plans are forward-looking statements. These forward-looking statements reflect the current expectations or beliefs of the Company based on information currently available to Bluestone and often use words such as “expects”, “plans”, “anticipates”, “estimates”, “intends”, “may” or variations thereof or the negative of any of these terms.
All forward-looking statements are made based on the Company’s current beliefs as well as various assumptions made by them and information currently available to them. Generally, these assumptions include, among others: the ability of Bluestone to carry on exploration and development activities; the price of gold, silver and other metals; there being no material variations in the current tax and regulatory environment; the exchange rates among the Canadian dollar, Guatemalan quetzal and the United States dollar remaining consistent with current levels; the presence of and continuity of metals at the Cerro Blanco Project at estimated grades; the availability of personnel, machinery and equipment at estimated prices and within estimated delivery times; metals sales prices and exchange rates assumed; appropriate discount rates applied to the cash flows in economic analyses; tax rates and royalty rates applicable to the proposed mining operation; the availability of acceptable financing; anticipated mining losses and dilution; success in realizing proposed operations; anticipated timelines for community consultations and the impact of those consultations on the regulatory approval process.
Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements and, even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, Bluestone. Factors that could cause actual results or events to differ materially from current expectations include, among other things: risks relating to variations in the mineral content within the mineral identified as mineral resources from that predicted; risks and uncertainties related to expected production rates, timing and amount of production and total costs of production; risks and uncertainties related to ability to obtain or maintain necessary licenses, permits, or surface rights; risks associated with technical difficulties in connection with mining development activities; risks and uncertainties related to the accuracy of mineral resource estimates and estimates of future production, future cash flow, total costs of production and diminishing quantities or grades of mineral resources; risks associated with geopolitical uncertainty and political and economic instability in Guatemala; risks and uncertainties related to interruptions in production; the possibility that future exploration, development or mining results will not be consistent with the Company’s expectations; uncertain political and economic environments and relationships with local communities; variations in rates of recovery and extraction; developments in world metals markets; risks related to fluctuations in currency exchange rates; as well as those factors discussed under “Risk Factors” in the Company’s Amended and Restated Annual Information Form.
Any forward-looking statement speaks only as of the date on which it was made, and except as may be required by applicable securities laws, Bluestone disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although Bluestone believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to their inherent uncertainty. There can be no assurance that forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements.
Non-IFRS Financial Performance Measures
The Company has included certain non-International Financial Reporting Standards (“IFRS“) measures in this new release. The Company believes that these measures, in addition to measures prepared in accordance with IFRS, provide investors an improved ability to evaluate the underlying performance of the Company and to compare it to information reported by other companies. The non-IFRS measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. These measures do not have any standardized meaning prescribed under IFRS, and therefore may not be comparable to similar measures presented by other issuers.
All-in sustaining costs
The Company believes that all-in sustaining costs (“AISC“) more fully defines the total costs associated with producing gold.
The Company calculates AISC as the sum of refining costs, third party royalties, site operating costs, sustaining capital costs and closure capital costs all divided by the gold ounces sold to arrive at a per ounce amount. Other companies may calculate this measure differently as a result of differences in underlying principles and policies applied. Differences may also arise due to a different definition of sustaining versus non-sustaining capital.
Total cash costs
Total cash costs is a common financial performance measure in the gold mining industry but has no standard meaning. The Company reports total cash costs on a gold ounce sold basis. The Company believes that, in addition to measures prepared in accordance with IFRS, such as revenue, certain investors can use this information to evaluate the Company’s performance and ability to generate operating earnings and cash flow from its mining operations. Management uses this metric as an important tool to monitor operating cost performance.
Total cash costs include (cost of sales such as mining, processing, maintenance and site administration, royalties, selling costs and by-product credits) to arrive at total cash costs per ounce of gold sold. Other companies may calculate this measure differently.
AISC and total cash costs reconciliation
ASIC and total cash costs are calculated based on the definitions published by the World Gold Council (“WGC“) (a market development organization for the gold industry comprised of and funded by 18 gold mining companies from around the world). The WGC is not a regulatory organization.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/46135
- Published in Bluestone Resources, Mining, News Home
Romios Receives Third $250,000 Option Payment and Appoints a Director on Crystal Lake’s Board
Momentum Public Relations
Press Release: July 8, 2019
Romios Gold Resources Inc. (TSXV: RG) (OTC Pink: RMIOF) (FSE: D4R) (“Romios” or the “Company”) today announced that Crystal Lake Mining Corp. (“CLM“) has made the third $250,000 option payment under the agreement (the “Definitive Agreement”) whereby Romios’ Newmont Lake Property (“Newmont Lake“) has been optioned to CLM. Under the terms of the Definitive Agreement, Romios has appointed Lawrence Roulston as its nominee on CLM’s Board of Directors.
Over the next three years, CLM can earn a 100% working interest in Newmont Lake in consideration for, among other things, issuing to Romios 12 million common shares of CLM, 4 million of which have been received, and paying a further $1 million ($1 million has been received to date) upon CLM earning its 100% interest in Newmont Lake through the expenditure of $8 million on Newmont Lake over a 3-year period. CLM is required to spend $3 million on Newmont Lake by September 20, 2019. Romios retains a 2% Net Smelter Returns Royalty (“2% NSR“) on Newmont Lake, or on any after-acquired claims within a 5 km radius of the current boundaries of Newmont Lake. The 2% NSR may be reduced at any time to a 1% NSR on the payment of $2 million per 0.5% NSR.
If CLM is successful in acquiring Newmont Lake, and in the event an NI-43-101compliant resource estimate is issued in respect of any part of Newmont Lake which exceeds 1 million ounces of gold equivalent resources, Romios will be issued an additional 2 million common shares of CLM. It will also receive an additional 1 million common shares of CLM for each additional1 million ounces of gold equivalent resource on any part of Newmont Lake.
In addition to Newmont Lake, Romios holds approximately 390 sq km in the Golden Triangle area in BC, near the Galore Creek project held by Newmont and Teck Resources. The Company is planning exploration and drilling in the area this summer. Romios has also been conducting exploration and drilling on the Lundmark-Akow Lake Cu-Au-Ag project in northwestern Ontario over the past two months.
- Published in Crystal Lake Mining, Mining
Bluestone Drilling Delivers 7.9 meters of 19 g/t Au & 44 g/t Ag and 9 meters of 8.4 g/t Au & 53 g/t Ag at Cerro Blanco
Momentum Public Relations
Press Release: July 3, 2019
Bluestone Resources Inc. (TSXV: BSR) (OTCQB: BBSRF) (“Bluestone” or the “Company”) is pleased to announce additional high-grade drill assays from its ongoing infill resource conversion program at its Cerro Blanco Gold project.
The Cerro Blanco Feasibility Study (see press release January 29th, 2019) highlighted 357,000 ounces of Inferred Resources (1.4 Mt grading 8.1 g/t Au) that could be potentially converted to Measured and Indicated Resources through infill drilling. The focus of the current program is the conversion of Inferred Resources within key veins in the upper part of the Cerro Blanco ore body and vein extensions outside of the current resource.
A total of eight holes are reported in this press release and 47 holes have been reported to date, for 4,992 meters of infill drilling undertaken since the Feasibility Study.
Table 1. Significant Intercepts (this Press Release)
HOLE ID
|
FROM (m)
|
TO (m)
|
CORE INTERVAL (m)
|
TRUE WIDTH (m)
|
Au g/t
|
Ag g/t
|
Vein ID
|
UGCB19-137
|
6.3
|
7.4
|
1.1
|
1.1
|
5.4
|
6.3
|
VN_29_New
|
49.2
|
50.3
|
1.1
|
1.1
|
12.7
|
12.0
|
VN_18
|
|
UGCB19-138
|
18.6
|
19.6
|
1.0
|
1.0
|
3.9
|
6.6
|
VN_20
|
37.5
|
38.5
|
1.0
|
1.0
|
4.9
|
34.1
|
VN_18
|
|
112.3
|
113.3
|
1.0
|
1.0
|
7.9
|
81.9
|
VN_02
|
|
121.2
|
122.2
|
1.0
|
1.0
|
5.6
|
45.4
|
VN_05
|
|
128.6
|
129.7
|
1.1
|
1.0
|
7.8
|
71.4
|
VN_06
|
|
UGCB19-139
|
32.6
|
34.9
|
2.3
|
2.0
|
8.1
|
24.1
|
VS_31
|
50.6
|
51.5
|
0.9
|
0.9
|
6.0
|
22.3
|
–
|
|
94.8
|
95.7
|
0.9
|
0.9
|
4.7
|
19.6
|
VS_24
|
|
97.8
|
99.0
|
1.2
|
1.0
|
5.3
|
21.6
|
VS_24
|
|
105.5
|
106.7
|
1.2
|
1.2
|
4.0
|
10.5
|
–
|
|
UGCB19-140
|
14.2
|
15.2
|
1.0
|
1.0
|
4.5
|
33.5
|
VN_29_New
|
29.0
|
30.0
|
1.0
|
1.0
|
11.7
|
29.0
|
VN_01
|
|
75.0
|
76.0
|
1.4
|
1.4
|
7.4
|
19.1
|
VN_18
|
|
UGCB19-141
|
38.0
|
39.0
|
1.0
|
1.0
|
3.8
|
9.9
|
VN_18
|
120.2
|
121.7
|
1.5
|
1.5
|
26.8
|
189.0
|
VN_02
|
|
UGCB19-142
|
8.0
|
9.0
|
1.0
|
1.0
|
4.1
|
21.5
|
VN_29_New
|
UGCB19-143
|
2.4
|
3.7
|
1.2
|
1.2
|
7.4
|
23.2
|
VS_20
|
6.3
|
7.3
|
1.0
|
1.0
|
6.7
|
32.6
|
VS_20
|
|
10.9
|
12.0
|
1.1
|
1.1
|
12.6
|
24.5
|
VS_15
|
|
57.0
|
66.0
|
9.0
|
9.0
|
8.4
|
53.2
|
VS_07, 08
|
|
incl.
|
57.9
|
59.7
|
1.8
|
1.8
|
24.9
|
134.8
|
VS_08
|
67.8
|
68.8
|
1.0
|
1.0
|
4.8
|
43.3
|
VS_06
|
|
74.5
|
75.6
|
1.1
|
1.1
|
91.7
|
561.0
|
VS_06
|
|
150.0
|
152.8
|
2.8
|
2.8
|
8.2
|
57.1
|
Vein New
|
|
185.4
|
187.9
|
2.5
|
2.5
|
13.6
|
52.8
|
Vein New
|
|
UGCB19-144
|
4.2
|
5.2
|
1.0
|
1.0
|
5.4
|
7.5
|
VN_27_New
|
89.3
|
95.8
|
6.5
|
6.1
|
4.0
|
3.5
|
VN_02, 03, 05
|
|
98.8
|
106.7
|
7.9
|
7.5
|
19.0
|
44.3
|
VN_06, 07, 09
|
|
incl.
|
105.7
|
106.7
|
1.0
|
1.0
|
98.5
|
271.0
|
VN_09
|
112.3
|
113.9
|
1.6
|
1.6
|
75.1
|
56.2
|
VN_10
|
|
126.2
|
136.0
|
9.8
|
9.4
|
7.2
|
8.7
|
VN_11
|
|
144.4
|
146.9
|
2.5
|
2.3
|
64.3
|
159.3
|
VN_12
|
|
155.1
|
156.0
|
0.8
|
0.8
|
9.1
|
5.9
|
Vein New
|
|
159.9
|
160.9
|
1.1
|
1.1
|
6.9
|
5.8
|
VN_21
|
Notes: Intervals in bold are cited in the text of the press release. Only intercepts averaging over 3 g/t Au when diluted to a minimum 3 meters true width are stated. Hole coordinates and azimuth/dip information accompany the plan view attached to this release.
Darren Klinck, President & CEO commented, “The drilling program which has been focused on the North zone at Cerro Blanco over the past few months has demonstrated remarkable continuity and consistency intercepting targeted veins. Additionally, as can be common with these types of deposits, the program continues to identify new veins that will require follow-up and should ultimately be positive for future resource updates. We are very excited with the results to date as well as with the continued strengthening of our understanding on the geologic model which we believe will continue to add significant value to the project.”
All holes cited in this press release were drilled from various platforms located within the underground workings at Cerro Blanco that extend over three kilometers. All holes were designed to target Inferred Resources within the upper parts of the current resource, with all holes drilled in the North Zone with the exception of UGCB19-139 and UGCB19-143 which were collared in the South Zone.
Hole UGCB19-144 drilled in the southern part of the North Zone resource successfully intercepted a total of 12 veins including a new vein, VN_19. The best intercept was 19 g/t Au and 44 g/t Ag over 7.5 meters (true width) pertaining to veins VS_06, VS_07 and VS_09, including 1 meter grading 98.5 g/t Au and 271 g/t Ag. Holes UGCB19-137, UGCB19-140, UGCB19-142 were all drilled west from the main North Ramp decline and were successful in intercepting new veins VN_18 and VN_29 located in the footwall of the current resource. UGCB19-138 and UGCB19-141 were drilled at positive angles (35 and 50 degrees respectively) and successfully confirmed the extension of vein VN_02 into the overlying Salinas conglomerates.
Hole UGCB19-143 drilled in the South Zone assayed 8.4 g/t Au and 53.2 g/t Ag over 9 meters (true width) from 57 meters pertaining to vein VS_07 and VS_08.
A plan view showing drill hole locations can be accessed by clicking HERE.
Results for a total of 47 holes have now been released to date as part of the Infill resource conversion program. Drilling is ongoing and further results will be reported in due course.
Precious metal mineralization at Cerro Blanco is associated with classic low sulphidation adularia-sericite epithermal quartz veins and vein swarms hosted in altered sequence of volcanoclastic and sedimentary rocks. Higher grades (>20 g/t Au and >60 g/t Ag) are associated with visible gold and silver sulphides in ginguro-style colloform-banded veins.
Quality Analysis and Quality Control
Assay results listed within this release were performed by Inspectorate Laboratories (“Inspectorate”), a division of Bureau Veritas, which are ISO 17025 accredited laboratories. Logging and sampling are undertaken on site at Cerro Blanco by Company personnel under a QA/QC protocol developed by Bluestone. Samples are transported in security-sealed bags to Inspectorate, Guatemala City, Guatemala, for sample preparation. Sample pulps are shipped to Inspectorate Laboratories in Vancouver, BC, Canada or Reno, NV, USA, and assayed using industry-standard assay techniques for gold and silver. Gold and silver were analyzed by a 30-gram charge with atomic absorption and/or gravimetric finish for values exceeding 5 g/t Au and 100 g/t Ag. Analytical accuracy and precision are monitored by the analysis of reagent blanks, reference material, and replicate samples. Quality control is further assured by Bluestone’s QA/QC program, which involves the insertion of blind certified reference materials (standards) and field duplicates into the sample stream to independently assess analytical precision and accuracy of each batch of samples as they are received from the laboratory. A selection of samples is submitted to ALS Chemex Laboratories in Vancouver for check analysis and additional quality control.
Qualified Person
David Cass, P.Geo., Vice President Exploration, is the designated Qualified Person for this news release within the meaning of National Instrument 43-101 and has reviewed and verified that the technical information set out above in this news release is accurate and therefore approves this written disclosure of the technical information.
Investor Relations Services
As part of Bluestone’s capital markets initiatives planned throughout the year, the Company has retained PI Financial Corp. (“PI”) to provide market-making services in accordance with TSX Venture Exchange (“TSXV”) policies. In consideration of the services provided by PI, Bluestone will pay PI a monthly cash fee of $5,000. PI will not receive shares or options as compensation; however, PI and its clients may have or may acquire a direct interest in the securities of Bluestone. Bluestone and PI are unrelated and unaffiliated entities. PI is a member of the Investment Industry Regulatory Organization of Canada (IIROC) and can access all Canadian stock exchange and alternative trading systems. The capital and securities required for any trade undertaken by PI as principal will be provided by PI.
About Bluestone Resources
Bluestone Resources is a mineral exploration and development company that is focused on advancing its 100%-owned Cerro Blanco Gold and Mita Geothermal projects located in Guatemala. A Feasibility Study on Cerro Blanco returned robust economics with a quick pay back. The average annual production is projected to be 146,000 ounces per year over the first three years of production with all-in sustaining costs of $579/oz (as defined per World Gold Council guidelines, less corporate general and administration costs). The Company trades under the symbol “BSR” on the TSX Venture Exchange and “BBSRF” on the OTCQB.
On Behalf of Bluestone Resources Inc.
“Darren Klinck”
Darren Klinck | President, Chief Executive Officer & Director
For further information, please contact:
Bluestone Resources Inc.
Stephen Williams | VP Corporate Development & Investor Relations
Phone: +1 604 646 4534
info@bluestoneresources.ca
www.bluestoneresources.ca
- Published in Bluestone Resources, Mining, News Home
CROP’s DVG Subsidiary Acquires Adjacent Tenanted Outdoor Farm in Washington
Momentum Public Relations
Press Release: June 25, 2019
CROP INFRASTRUCTURE CORP. (CSE: CROP) (OTC: CRXPF) (Frankfurt: 2FR) announced today that its 30% owned DVG, LLC partner has acquired additional facilities for a tenanted outdoor cannabis farm in Grant County, Washington.
In return for acquiring the turnkey infrastructure and branding assets for DVG company, CROP infrastructure is issuing 2,000,000 shares at a deemed price of $0.30 per share and has paid $46,000 USD cash.
The farm is operated by a Tier 3 licensed Tenant and is fully planted for the 2019 season.
The strains being planted for the 2019 outdoor season are Bubba Kush, Dutch Hawaiian, Ghost Train, Green Crack, Star Killer and WA Cookies, predominantly for extraction at the adjacent processing facility.
CROP CEO, Michael Yorke, stated: “In the roll out of the Hempire and Evolution brands we have continually worked with the team tenanted at these locations. It seemed only natural to align all parties’ interests as we continue to execute on our America-wide focus with this team.”
About CROP
Crop is publicly listed on the CSE and trades under the symbol “CROP”. CROP is focused on cannabis branding and real estate assets. CROP’s portfolio of projects includes cultivation properties in California, two in Washington State, a 1,000-acre Nevada Cannabis farm, 1,865 acres of CBD farms, extraction in Nevada and joint ventures on West Hollywood and San Bernardino dispensary apps with a growing portfolio of common share equity in upcoming listings within the cannabis space.
CROP has developed a portfolio of assets including Canna Drink, a cannabis infused functional beverage line, US and Italian distribution rights to over 55 cannabis topical products and a portfolio of 16 Cannabis brands. CROP’s infrastructure has over 150,000 sq ft of built canopy and over 2,900 acres of real estate.
Company Contact
Michael Yorke – CEO and Director
E-mail: info@cropcorp.com
Website: www.cropcorp.com
Phone: (604) 484-4206
Crystal Lake Announces Signing of Arrangement Agreement to Create Sassy Spinout
Momentum Public Relations
Press Release: June 25, 2019
Crystal Lake Mining Corporation (TSXV: CLM) (OTC PINK: SIOCF) (FSE: SOG-FF) (the “Company” or “Crystal Lake“) is pleased to announce that it has entered into an arrangement agreement dated June 25, 2019, with wholly-owned subsidiary Sassy Resources Corporation (“Sassy Resources” or “Sassy“).
Crystal Lake will transfer to Sassy its Northwest Ontario nickel asset (Nicobat Project), and its Letter of Intent dated June 24, 2019, to acquire the Foremore claims in Northwest B.C.’s Golden Triangle, by way of a plan of arrangement pursuant to the Business Corporations Act of British Columbia. Sassy Resources will become a reporting issuer in the provinces of British Columbia and Alberta upon completion of the arrangement.
Highlights:
- Pursuant to the arrangement, shareholders of Crystal Lake on the Share Distribution Record Date (to be determined) will receive a total of 10 million common shares of Sassy Resources;
- The spinout will keep Crystal Lake strategically focused on its Newmont Lake Project in the prolific Eskay Camp while CLM shareholders as of the record date will get ownership in an attractive new entity aimed at unlocking the value of the Nicobat Project and the Foremore claims;
- Following Crystal Lake shareholder approval and regulatory approvals of the arrangement, Sassy Resources will apply for listing on the TSX Venture Exchange.
Richard Savage, President and CEO of Crystal Lake, commented: “Sassy will have a team and a brand that will excite investors and advance its projects in an efficient and bold way. We look forward to announcing the Sassy CEO in the very near future. Sassy also intends to complete a financing on its own before the completion of the arrangement for general working capital purposes including certain exploration initiatives.”
Nicobat and Foremore
The Nocobat Project consists of the “Emerald Lake” assets, specifically the Iron Property, Farm Property, EL1 and EL5 Properties, and Properties #1, 2, 3, 4, 5, 7 and 8 and Property 6, located in Dobie, Kingsford, Mather, Potts and Tait townships, in the Dogpaw Lake and Heronry Lake areas of Emo, Ontario.
The Letter of Intent with Lorne Warren dated June 24, 2019, includes the Foremore claims covering 145.3 sq. km adjacent to the northern boundary of Crystal Lake’s Newmont Lake Project.
Required Approvals
The arrangement is subject to the approval of the Supreme Court of British Columbia, the approval by the Crystal Lake shareholders at an annual general and special meeting to be held on September 25, 2019 (the “Meeting“), and the approval by TSX Venture Exchange.
Details of the arrangement will be provided in a management information circular that will be mailed to all Crystal Lake shareholders prior to the September 25 Meeting. At the Meeting, shareholders will be asked to vote on a special resolution approving the arrangement, among other resolutions.
The arrangement will be posted on SEDAR under the profile of the Company.
Share Distribution Record Date
The Share Distribution Record Date will be determined by the board of directors of Crystal Lake and will be announced by way of a news release following required approvals. No outstanding warrants or options of Crystal Lake will be exchanged for the warrants or options of Sassy Resources.
About Crystal Lake Mining
Crystal Lake Mining is a Canadian-based junior exploration company focused on building shareholder value through high-grade discovery opportunities in British Columbia and Ontario. The Company has an option to earn a 100% interest in the large Newmont Lake Project in the broader Eskay region in the heart of Northwest B.C.’s Golden Triangle.
On Behalf of the Board of Directors,
CRYSTAL LAKE MINING CORP.
“Richard Savage”
President & CEO
Email: info@crystallakemining.com
www.crystallakemining.com
For further information please contact:
Momentum PR
Mark Turcotte
Tel: +1 (514) 815-7473
Email: mark@momentumpr.com
- Published in Crystal Lake Mining, Mining, News Home