Momentum Public Relations
Press Release: September 26, 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.
Several high-grade intercepts were drilled including:
- 1.0 meter grading 28.6 g/t Au & 186.0 g/t Ag
- 5.2 meters grading 8.2 g/t Au & 10.8 g/t Ag
- 6.1 meters grading 13.7 g/t Au & 10.8 g/t Ag
- 6.1 meters grading 11.9 g/t Au & 18.0 g/t Ag
- 11.1 meters grading 8.5 g/t Au & 7.1 g/t Ag
The focus of the current drill program is the conversion of Inferred Resources within key veins in the upper part of the Cerro Blanco deposit and vein extensions outside of the current resource. The Cerro Blanco Feasibility Study (see press release January 29, 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.
Darren Klinck, President and CEO commented, “We are pleased with the continued success of the infill drill program in the North Zone of the deposit which has been a focus for us the last six months. We expect to put out an updated resource in the coming weeks reflecting the additional information generated from the drilling in the North Zone. As well, with the positive impact this program will ultimately have on adding value to the Cerro Blanco project, we are continuing to drill, shifting our focus to the South Zone for the next several months.”
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 |
UGCB19-153 | 115.7 | 116.7 | 1.0 | 1.0 | 28.6 | 186.0 | VN_02 |
138.3 | 139.3 | 1.0 | 1.0 | 16.7 | 47.2 | VN_05 | |
UGCB19-154 | 79.8 | 83.6 | 3.8 | 3.1 | 3.2 | 14.2 | VN_02,03 |
107.0 | 108.0 | 1.0 | 1.0 | 11.8 | 26.3 | VN_06 | |
UGCB19-155 | 3.7 | 4.8 | 1.1 | 1.0 | 4.9 | 6.2 | VN_27 |
14.5 | 15.5 | 1.1 | 1.0 | 7.9 | 9.6 | VN_26 | |
64.8 | 70.4 | 5.6 | 5.2 | 8.2 | 10.8 | VN_02,03 | |
75.3 | 82.3 | 7.0 | 6.1 | 11.9 | 18.0 | VN_05,06,07 | |
CB19-410 | 134.9 | 135.9 | 1.0 | 1.0 | 6.7 | 17.2 | VN_30 |
145.5 | 146.5 | 1.0 | 1.0 | 5.6 | 15.5 | VN_16 | |
152.2 | 155.5 | 3.3 | 3.1 | 3.6 | 5.1 | VN_15 | |
162.6 | 165.9 | 3.3 | 3.0 | 8.6 | 17.9 | VN_14 | |
181.0 | 182.6 | 1.7 | 1.3 | 25.5 | 12.6 | VN_13 | |
211.7 | 218.2 | 6.5 | 6.1 | 13.7 | 10.8 | VN_11 | |
222.4 | 233.9 | 11.5 | 11.1 | 8.5 | 7.1 | VN-10 | |
241.7 | 242.7 | 1.0 | 1.0 | 5.8 | 6.9 | VN_09 | |
CB19-413 | 128.9 | 129.9 | 1.0 | 1.0 | 4.6 | 4.3 | – |
133.5 | 134.5 | 1.0 | 1.0 | 7.3 | 6.7 | VN_17 | |
143.3 | 144.3 | 1.0 | 1.0 | 5.6 | 25.7 | VN_16 | |
224.1 | 225.1 | 1.1 | 1.0 | 7.5 | 9.3 | VN_11 | |
244.2 | 245.1 | 0.9 | 0.9 | 3.7 | 3.8 | VN_09 | |
254.8 | 255.8 | 1.0 | 1.0 | 4.0 | 3.7 | VN_01 | |
CB19-414 | 164.5 | 165.6 | 1.1 | 1.0 | 3.9 | 21.1 | VN_15 |
239.7 | 247.4 | 7.7 | 7.5 | 4.8 | 11.7 | VN_09,25 | |
CB19-415 | 137.1 | 141.2 | 4.1 | 4.0 | 4.1 | 8.2 | VN_30 |
159.6 | 160.6 | 1.0 | 1.0 | 4.8 | 26.8 | VN_16 | |
166.0 | 168.0 | 2.0 | 1.9 | 9.1 | 8.9 | VN_15 | |
196.0 | 197.5 | 1.5 | 1.2 | 3.8 | 2.9 | VN_13 | |
217.4 | 218.4 | 1.0 | 1.0 | 22.3 | 64.5 | VN_12 | |
231.6 | 235.9 | 4.3 | 4.2 | 4.8 | 3.9 | VN_10 | |
250.1 | 251.1 | 1.0 | 1.0 | 3.9 | 2.9 | VN_09 | |
CB19-416 | 182.6 | 183.6 | 1.0 | 1.0 | 4.0 | 4.3 | – |
241.6 | 242.6 | 1.0 | 1.0 | 7.4 | 5.9 | VN_25 | |
253.7 | 254.7 | 1.0 | 1.0 | 4.5 | 5.0 | VN_08 |
Intervals in bold are cited in the text of this 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.
A plan showing drill hole locations can be accessed by clicking HERE.
Underground drill holes UGCB-153 and 154 were sub-horizontal holes drilled from two different locations in the North Zone workings and both reached their objective of intersecting the south-westerly extension of vein VN_02. Hole UGCB-155, drilled to the east, intersected multiple veins including 6.1 meters (true width) grading 11.9 g/t Au (VN_05, 06, 07). Holes CB19-410, and 413-416 were drilled from surface to test for multiple veins at deeper elevations in the North Zone resource, with a best intercept of 8.5 g/t Au over 11.1 meters true width in vein VN_10.
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 scientific and technical information set out above in this news release is accurate and therefore approves this written disclosure of the technical information.
Base Shelf Prospectus
The Company is pleased to announce that that it has filed a final short form base shelf prospectus (the “Final Prospectus”) with the securities commissions in each of the provinces of Canada, except Quebec.
The Final Prospectus will, subject to the filing of a shelf prospectus supplement (the “Prospectus Supplement”), allowing Bluestone to offer up to an aggregate of C$200,000,000 of common shares, preferred shares, debt securities, subscription receipts, units, warrants and share purchase contracts from time to time over the 25-month period, until the Final Prospectus expires on October 26, 2021.The specific terms of any future offering will be established in a Prospectus Supplement, which will be filed with the applicable Canadian securities regulatory authorities.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which an offer, solicitation or sale would be unlawful prior to registration or qualifications under the securities laws of any such jurisdiction.
A copy of the Final Prospectus may be obtained from the Corporate Secretary of the Company by directing a request to Bluestone at Suite 1020, 800 West Pender Street, Vancouver, British Columbia, Canada, V6C 2V6, Attn: Corporate Secretary, or can be downloaded from SEDAR at www.sedar.com.
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 (see press release January 29, 2019) 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