This is called a direct hit: The latest drilling results, the Blue Lagoon Resources (CSE BLLG / FWB 7BL) of its Dome Mountain gold project, once again confirm the presence of high grade gold mineralization on the property!
Drilling on the year-round property near Smithers Town is part of a 3,700 meter drill program that Blue Lagoon intends to move a significant portion of its existing Inferred Resources to Indicated. In addition, the company plans to test the upper, eastern limits of the Boulder vein system.
And Blue Lagoon was more than successful with it, as the highlights of the recently published results show:
– DM-20-116: 34.5 g / t gold and 54 g / t silver over 1.53 meters,
– DM-20-126: 41.86 g / t gold and 250.72 g / t silver over 1.32 meters,
– DM-20-127: 15.02 g / t gold and 101.53 g / t silver over 1.71 meters and
– DM-20-127: 20.6 g / t gold and 108 g / t silver over 1.24 meters!
Blue Lagoons chief geologist William Cronk is also satisfied, as the results of this first phase of drilling would once again reveal the high-grade nature of the mineralization of the Boulder vein system. The results to date would also have shown a strong consistency with the known mineralization while also identifying promising new areas that remain to be tested with drilling.
Blue Lagoon is working in parallel to continuously improve the work and has engaged the experts from Tripoint Geoservices to help with database, claim and property management and to provide geological and geotechnical support during the current program. So far, a team of four tripoint geologists has already taken soil samples and identified particularly promising targets. To date, 1,178 samples have been collected and sent to the laboratory for analysis.
Blue Lagoon has a project at Dome Mountain that has all permits to mine in addition to an existing resource totaling over 200,000 ounces of high grade gold. So while the company is carrying out the exploration work, it is working in parallel to meet the final requirements for a – potential – start of mining. This includes underground work, which Blue Lagoon says is progressing well.
In addition, a new hall has been set up for logging new drill cores, in which the samples can be processed by two drill rigs, as Blue Lagoon plans to use in a larger winter drilling program that is scheduled to start at the end of this year or early 2021! In addition, a building is being built in which up to 200 tons of ore can be stored per day.
In addition to further results from the drilling program in the Boulder vein system, investors can look forward to further news from Blue Lagoon. Since it was first mentioned by GOLDINVEST.de, the share has already risen from CAD 0.64 to CAD 0.87, which means a price increase of around 36%. Should the company continue to present such positive drilling results, as planned and successfully carry out a significantly larger drilling program and then actually start mining on Dome Mountain in the foreseeable future, this should only have been the beginning! We stay tuned to the exciting story, but point out that Blue Lagoon is still a risky speculation.
Risk notice: GOLDINVEST Consulting GmbH publishes comments, analyzes and news on https://goldinvest.de. This content serves exclusively to inform the reader and does not represent any kind of call for action, neither explicitly nor implicitly are they to be understood as a guarantee of possible price developments. Furthermore, they are in no way a substitute for individual, expert investment advice and represent neither an offer to sell the stock (s) in question nor an invitation to buy or sell securities. This is expressly not a financial analysis, but a promotional one / journalistic texts. Readers who make investment decisions or carry out transactions on the basis of the information offered here act entirely at their own risk. There is no contractual relationship between GOLDINVEST Consulting GmbH and its readers or the users of its offers, as our information only relates to the company, but not to the reader’s investment decision.
According to §34b WpHG and § 48f Abs. 5 BörseG (Austria) we would like to point out that GOLDINVEST Consulting GmbH and / or partners, clients or employees of GOLDINVEST Consulting GmbH hold shares in Blue Lagoon Resources and that there is therefore a conflict of interest. GOLDINVEST Consulting GmbH also reserves the right to buy or sell shares in the company at any time. In addition, GOLDINVEST Consulting GmbH is remunerated by Blue Lagoon Resources for reporting on the company. This is another clear conflict of interest.
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