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Bluestone Drills More High-Grade Intercepts at Cerro Blanco Including 32.7 g/t Au over 8.3 m and 16.7 g/t Au over 15.0 m (true width)

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Bluestone Drills More High-Grade Intercepts at Cerro Blanco Including 32.7 g/t Au over 8.3 m and 16.7 g/t Au over 15.0 m (true width)

 

 

 

 

 

Bluestone Resources Inc.  (TSX-V: BSR) (OTCQB: BBSRF) is pleased to announce further positive drill results from its resource definition drill program at the Cerro Blanco Gold project in Guatemala.

 

 

Assay results for a further six holes, which were drilled from various locations within the Cerro Blanco underground mine workings, are reported in this press release. Highlights include the following core intercepts representing true widths of the veins;

 

  • 17.2 g/t Au and 94.9 g/t Ag over 7.0 meters (UGCB18-86)
  • 32.7 g/t Au and 79.6 g/t Ag over 8.3 meters (UGCB18-86)
  • 16.7 g/t Au and 105.4 g/t Ag over 15.0 meters (UGCB18-89)
  • 14.3 g/t Au and 68.5 g/t Ag over 9.3 meters (UGCB18-89)

 

 

Holes UGCB18-86 and UGCB18-89 are fan holes that intercepted multiple zones of parallel veins from approximately 15 meters below the South Ramp underground workings. A plan view showing drill hole locations and cross sections can be accessed by clicking HERE. A selection of illustrative core photographs can be viewed HERE.

 

 

Included within these broad zones are bonanza intercepts of 163.3 g/t Au and 1,202 g/t Ag over 1.0 meter and 170.8 g/t and 421 g/t Ag over 1.2 meters. Visible gold can be observed associated with zones of dark grey quartz and acanthite (a silver sulphide mineral) within these high-grade vein intercepts.

 

 

Darren Klinck, President & CEO commented, “These recent results are significant and represent some of the highest gold and silver grades we have seen since the start of the program. The drilling continues to validate our understanding and confidence in the new geological interpretation of the deposit and will be fundamental to the planned updated resource estimate and engineering studies concurrent with our Feasibility Study.”

 

 

The underground results presented in this press release are drilled from platforms 4, 5, 6 and 9 (Figure 1 in the plan view) and complement drill results announced previously (see Company press releases dated April 17, 2018 and May 15, 2018).

 

 

Assay results from a further seven underground are still pending and will be reported when received. Results from all surface and underground drilling undertaken by Bluestone will be incorporated into an updated resource estimate expected in July.

 

 

Table 1: Drill Results Table

 

 

HOLE ID FROM (m) TO (m) CORE INTERVAL (m) EST. TRUE WIDTH (m) Au g/t Ag g/t Capped
Au g/t (i)
Capped
Ag g/t (i)
UGCB18-86 16.8 18.1 1.3 1.3 4.1 12.5    
  23.5 30.5 7.0 7.0 17.2 94.9    
  33.4 37.2 3.8 3.8 9.1 28.9    
  43.6 51.8 8.3 8.3 32.7 79.6 28.2  
Incl. 50.6 51.8 1.2 1.2 170.8 421.0    
  64.5 65.5 1.0 1.0 4.6 10.3    
  73.8 75.0 1.2 1.2 4.2 36.9    
  88.7 95.0 6.3 6.3 13.3 98.2    
  142.8 144.2 1.4 1.4 7.3 6.1    
UGCB18-87 97.7 98.8 1.1 1.1 16.0 26.8    
UGCB18-88 10.5 12.0 1.5 1.5 6.9 11.4    
  43.0 52.2 9.2 9.2 9.8 29.9    
  62.2 64.2 2.0 2.0 9.8 35.7    
  71.3 75.4 4.1 4.1 3.4 21.3    
  81.2 82.3 1.1 1.1 4.9 18.4    
  90.5 91.5 1.0 1.0 3.6 16.5    
  92.5 97.6 5.1 5.1 5.5 18.3    
UGCB18-89 30.1 35.5 5.4 5.4 5.7 56.0    
  39.7 46.6 6.9 6.9 4.4 16.0    
  50.7 65.7 15.0 15.0 16.7 105.4 15.2 65.2
Incl. 52.5 53.5 1.0 1.0 163.3 1,202.0    
  92.0 101.4 9.4 9.3 14.3 68.5    
  103.2 107.6 4.4 4.4 10.0 12.8    
UGCB18-90 100.0 101.0 1.0 1.0 4.1 4.9    
UGCB18-91 12.9 15.9 3.0 2.8 17.9 27.6    
  19.8 20.8 1.0 1.0 4.1 5.0    
  99.0 101.5 2.5 2.3 3.1 6.8    

 

 

 

Notes: (i) A top-cut of 140 g/t Au and 600 g/t Ag as utilized in the PEA resource estimate (02/06/17) was applied to sample assays exceeding these values (3 samples). Intervals in bold are cited in the text of the news release. Only intercepts averaging over 3 g/t Au when diluted to a minimum 3 meter true width are stated. A complete table with hole coordinates and azimuth/ dip information accompany the plan view attached to this release.

 

 

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. The Cerro Blanco Gold project economics, as disclosed in the Company’s Cerro Blanco Preliminary Economic Assessment which is available at www.sedar.com, and updated mineral resource estimate for Cerro Blanco, indicate a robust project with an expected nine-year mine life producing 952,000 ounces of gold and 3,141,000 ounces of silver. Initial capital expenditures in the PEA to fund construction and commissioning is estimated at US$170.8 million with all-in sustaining cash costs (as defined per World Gold Council guidelines, less corporate general and administration costs) estimated to be US$490 per ounce of gold produced.

 

Posted May 30, 2018

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