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Bluestone Resources Inc.
Summary
| Project: | Cerro Blanco | |
|---|---|---|
| Deposit: | Cerro Blanco | |
| Location: | Guatemala | |
| Commodities: | Gold-Silver | |
| Date: | 4/17/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 17-4-2018: Bluestone Resources Inc. announces an Exploration/Drilling Update report for its Cerro Blanco deposit at the Cerro Blanco project. Drilling results incl. 34.49m @ 5.83g/t Au, 18.59g/t Ag from 12.61m. April 17, 2018 – VANCOUVER, BRITISH COLUMBIA | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: David Cass (Internal) | |
| ABSTRACT: | April 17, 2018 – VANCOUVER, BRITISH COLUMBIA – Bluestone Resources Inc. (TSXV:BSR | OTCQB:BBSRF) ("Bluestone" or the "Company") is pleased to announce initial drill results from its Cerro Blanco Gold project in Guatemala, where the Company is carrying out resource definition drilling concurrent with its feasibility study planned for completion by the end of 2018. The Company currently has a total of five drill rigs operational on the project. Three drill rigs are stationed within the underground development primarily carrying out in-fill drilling. Two portable drill rigs are drilling from surface targeting deeper and peripheral extensions to mineralized veins. Gold and silver mineralization at Cerro Blanco is associated with epithermal quartz-adularia veins and vein swarms that sit immediately below a silicified cap that forms a low-lying hill. The Cerro Blanco project consists of 3.2 kilometers of underground development, including two underground declines from surface (North and South Ramps). Prior to the acquisition of Cerro Blanco by Bluestone in 2017, a total of 155,500 meters were drilled in 522 holes by previous operators. All Figures referred to in this press release including location of drill holes, drill sections and photos can be accessed by clicking HERE. Underground Drilling Fan drilling is underway at specific locations throughout the north, south and central areas of the underground development (see FIGURE 1). Drilling is designed primarily to provide additional information within key areas of the resource model and validate previous historical drilling. A total of 2,030 meters in 14 holes have been completed to date. Average hole depth is 150 meters and a minimum of 4,000 meters of underground drilling is planned. Assay results from six holes have been received and are presented in Table 1 below. Epithermal mineralization at Cerro Blanco is associated with chalcedony-adularia-calcite veins with very minor pyrite. Highest precious metal grades are associated with dark colloform-banded chalcedony (quartz) and adularia often with black ginguro banding comprising of mainly acanthite (a silver sulphide mineral) and finegrained pyrite. Visible gold is rarely observed with a hand lens but is commonly viewed with a microscope. Selected core photos are shown in FIGURE 6. | |
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