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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

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Bluestone Resources Inc. (TSX-V: BSR) (OTCQB: BBSRF) 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, 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.

 

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).

 

Posted July 3, 2019

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