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Bluestone Resources Inc.
Summary
| Project: | Cerro Blanco | |
|---|---|---|
| Deposit: | Cerro Blanco | |
| Location: | Guatemala | |
| Commodities: | Gold-Silver | |
| Date: | 1/9/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 9-1-2019: Bluestone Resources Inc. announces an Exploration/Drilling Update report for its Cerro Blanco deposit at the Cerro Blanco project. Drilling results incl. 1.0m @ 86.9g/t Au, 227.0g/t Ag from 217.8m. Vancouver, British Columbia--(Newsfile Corp. - | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: David Cass (Internal) | |
| ABSTRACT: | Vancouver, British Columbia--(Newsfile Corp. - January 9, 2019) - Bluestone Resources Inc. (TSXV: BSR) (OTCQB: BBSRF) ("Bluestone" or the "Company") today announced initial assays from the ongoing 3,500 meter infill drilling program currently underway at its high-grade Cerro Blanco Gold project. The primary focus of the program is to upgrade the Inferred resources identified during the drill program completed last year and to define new resources along veins in the mine plan that extend outside of the current resource envelope. In addition, a new mineralized vein was drilled in hole UGCB18-101 that assayed 2.7 meters of 12.6 g/t Au. This new vein is in the North Zone and was drilled underground from the positive ramp. Two LM-75 drill rigs are situated within the North Zone of the Cerro Blanco underground workings and are targeting specific areas of veins in the upper part of the Cerro Blanco resource that can be converted to the Indicated resource category by infill drilling. Additionally, certain veins with Indicated resources are expected to be upgraded into Measured resources where drill density is sufficient. "Initial results from this program validate our belief in the exploration and growth potential of Cerro Blanco, advance our nearterm goal of upgrading and converting resources from Inferred resources into Indicated resources, and potentially add new ounces outside of the area hosting the current resource estimate," stated Darren Klinck, Bluestone's President and CEO. "The resource estimate announced in September 2018 defined 360,000 ounces in the Inferred resource category [1] . The conversion of a large portion of these ounces into the Indicated resource category represents a significant opportunity to add value to the economics of the project. The majority of the current Inferred resource ounces are located on veins which already demonstrate Measured and Indicated resources with adequate grades and widths for mining. These Inferred resources are to be incorporated into a mine plan once upgraded. The current program is intended to provide the greater drilling density required to upgrade these resources to Measured and Indicated resource status." | |
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