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Blue Lagoon Grab Samples up to 300g/t Au on Phase One Program at Pellaire

Monday, September 23, 2019 3:15 AM
Blue Lagoon Resources Inc.

VANCOUVER, BRITISH COLUMBIA / ACCESSWIRE / September 23, 2019 / Blue Lagoon Resources Inc. ("Blue Lagoon") (CSE:BLLG)(FSE:7BL)(OTC:BLAGF) is pleased to announce the results from rock sampling during a Phase One program completed on its Pellaire project west of Upper Taseko Lake, British Columbia.

The Phase One Program began June 12 and extended to July 3, 2019. A total of 312 rock samples were collected and included samples from several stockpiles on site. The stockpiles consist of unprocessed material left over from a large bulk sample from the #3 vein at Pellaire in 2000 (upper stockpile), and three smaller stockpiles located at the Pellaire camp site and Falls River camp site of leftover material from a smaller bulk sample taken in 1998-1999. The collected samples were selected samples and not representative of the mineralization hosted on the property.

The 312 rock samples collected included 129 samples systematically collected from unprocessed vein and alteration material at the upper stockpile and 72 samples taken from stockpiles at the Falls River camp site. The remainder of the samples were taken around the Pellaire Mine area including Pellaire East Ridge and Twin Peaks as well as three samples taken from the Northwest (NW) Copper claims.

The samples taken from the upper stockpile returned average results of 6.24g/t Au and 25.95 g/t Ag (including a high of 300g/t Au and 1200g/t Ag). Results from duplicate field samples indicate a potential for nugget effect (e.g. one field duplicate pair returning values of 0.5 g/t Au, and 23.4 g/t Au). The upper stockpile consists of material selected from the number three vein and generally crushed to -2 inches. This stockpile is the largest of four stockpiles on the property and consists of approximately 10,000m3.

Most of the material in these stockpiles was removed during the 1998-1999 bulk sampling programs conducted by Jaguar International Equities.

The average results from the 72 samples were as follow:

  • Stockpile #1: 2.10 g/t Au, 8.72 g/t Ag;
  • Stockpile #2: 1.54 g/t Au, 6.28 g/t Ag;
  • Stockpile #3: 1.91 g/t Au, 8.03 g/t Ag.

Outcrop sampling in the Pellaire vein area focused on ridge top exposures of the number 3, 4 and 5 veins. Results from the 2019 program include a sample containing 40.2 g/t Au from outcropping fractured quartz vein (#3 vein) containing disseminated au-bearing tellurides.

Outcrop sampling results showed a statistical mean of 2.75g/t Au and 19.8g/t Ag.

The number 3, 4 and 5 veins represent granodiorite hosted north dipping multigeneration quartz veins ranging from <1m to 7.5m in true width.

Outcrop sampling to the west and east of the Pellaire did not identify any additional gold bearing veins but did highlight copper and zinc anomalies. Anomalous copper and zinc values were returned from samples of silicified intermediate volcanics and quartz, containing disseminated chalcopyrite + pyrite ± pyrrhotite.

Three samples collected from the NW Copper claims highlighted two samples with values of 0.527% and 0.289% Cu with visible azurite and malachite.

All rock samples were sent to ALS in Vancouver and lab methods include fire assay gold and ME-MS61. QA/QC includes inserted lab standards blanks and field duplicates (10%). Chain of custody protocol was maintained by onsite QP, all samples were kept in secure storage and hand delivered by the company geologist to ALS Labs in Vancouver.

The scientific and technical data contained in this news release was prepared and reviewed by William Cronk, P.Geo., a non-independent qualified person to the Company. Mr. Cronk is responsible for ensuring that the geologic information provided in this news release is accurate and acts as a qualified person pursuant to National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

For further information, please contact:

Rana Vig

President and Chief Executive Officer
Telephone: 604-218-4766
Email: [email protected]

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 and exploitation of minerals deposits, market 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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