Blue Lagoon Encounters Additional Significant Intersections from Drilling Along Strike West of The Boulder Vein Resource

Rhea-AI Summary

Blue Lagoon Resources announced the final results of its 2022 Phase II drilling program at the Dome Mountain Gold Project, located near Smithers, British Columbia. The program included 41 drill holes totaling 12,327 meters. Notable results from drill holes DM-22-280 and DM-22-283 revealed high-grade gold grades of 8.68 g/t Au and 7.28 g/t Au, respectively. Drilling targeted the Boulder Vein at depth and demonstrated significant mineralization potential. Quality assurance protocols were strictly followed, with analyses conducted by Activation Laboratories in Kamloops, BC. This data could positively influence future resource estimates and market performance for the stock symbol BLAGF.

Positive

• High-grade intersections: DM-22-280 (8.68 g/t Au, 68.4 g/t Ag) and DM-22-283 (7.28 g/t Au, 60.0 g/t Ag) highlight mineral potential.
• Total of 41 drill holes completed, totaling 12,327 meters, indicating extensive exploration efforts.
• Successful completion of a Phase II drilling program enhancing the resource model.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / February 14, 2023 / Blue Lagoon Resources Inc. (the "Company") (CSE:BLLG)(FSE:7BL)(OTCQB:BLAGF) is pleased to announce final results from the 2022 Phase II drilling program on its year-round, road accessible, Dome Mountain Gold Project, located a short 50-minute drive from Smithers, British Columbia.

Significant intersections from drill holes drilled along the western strike extension of the Boulder Vein, include:

• DM-22-280 - 8.68 g/t Au, 68.4 g/t Ag and 0.27% Cu over 3.55 meters including 24.40 g/t Au, 158.0 g.t Ag, 0.50% Cu over 0.60 metres, and,
• DM-22-283 - 7.28 g/t Au, 60.0 g/t Ag and 0.94% Cu over 3.87 meters, including 14.98 g/t Au, 78.5 g/t Ag, 0.53% Cu over 1.40 metres

These drill holes were part of a series of holes to test the Boulder structure at depth (> 200 metres from surface) and along strike to the west beyond the current (2021) resource model.

DM-22-280 intersected typical quartz-carbonate vein material within altered tuffs, mineralized with mainly pyrite and lesser chalcopyrite, sphalerite and galena at a drill depth of 226.00 to 229.55 metres grading 8.68 g/t Au, 68.4 g/t Ag and 0.27% Cu over 3.55 meters including 24.40 g/t Au, 158.0 g.t Ag, 0.50% Cu over 0.60 metres. The vein orientation appears to be steeper in this area - greater than 70° to the south.

DM-22-283 intersected two wide mineralized quartz-carbonate veins and strong clay-sericite altered zones, with the upper zone from 307.00 to 316.00 metres returning 3.69 g/t Au, 28.2 g/t Ag, and 0.43% Cu over 9.00 metres, including a higher grade core of 7.28 g/t Au, 60.0 g/t Ag and 0.94% Cu over 3.87 meters. The lower zone was drilled from 349.30 to 364.45 metres, returning 1.97 g/t Au, 38.5 g/t Ag and 0.39% Cu over 15.15 metres, including 4.30 g/t Au, 80.0 g/t Ag, and 0.79% Cu over 4.27 metres. The lower zone also included a short interval (0.43m) of massive sulphides.

Table 1: Selected significant intersections (>1 g/t Au)

Hole	Intersection (m)				Grade
	From	To	Length	True Width 1	Au (g/t)	Ag (g/t)	Cu (%)	Pb (%)	Zn (%)
DM-22-276	234.00	236.00	2.00	1.33	2.42	10.7	0.050	<0.001	0.050
DM-22-276	242.00	244.00	2.00	1.33	1.04	5.2	0.070	<0.001	0.150
DM-22-277	244.90	247.00	2.10	1.84	1.92	14.6	0.090	0.230	0.370
DM-22-277	371.61	371.85	0.24	0.21	5.19	73.7	0.060	0.430	0.160
DM-22-278	6.23	6.55	0.32	0.25	7.26	87.0	0.730	0.100	0.050
DM-22-278	38.45	38.75	0.30	0.23	5.10	21.5	0.170	0.010	0.110
DM-22-278	123.30	125.30	2.00	1.49	1.55	1.5	0.010	<0.001	0.400
DM-22-278	321.56	322.00	0.44	0.32	1.73	96.0	0.340	0.360	0.630
DM-22-280	87.66	88.11	0.45	0.41	6.94	16.5	0.270	0.000	0.010
DM-22-280	226.00	229.55	3.55	3.14	8.68	68.4	0.270	0.410	2.310
incl	226.00	226.60	0.60	0.53	24.40	158.0	0.500	0.580	4.760
incl	227.09	228.37	1.28	1.13	6.31	42.1	0.170	0.160	3.010
incl	228.95	229.55	0.60	0.53	11.30	129.0	0.490	1.470	2.130
DM-22-280	332.00	334.00	2.00	1.76	1.02	0.9	0.010	<0.001	0.020
DM-22-281	216.00	219.00	3.00	2.20	1.35	11.7	0.100	<0.001	0.530
DM-22-281	237.30	238.00	0.70	0.51	1.25	1.2	0.010	<0.001	0.020
DM-22-281	323.75	323.95	0.20	0.14	4.18	291.0	3.430	0.260	0.400
DM-22-282	198.25	198.84	0.59	0.51	1.11	0.4	0.000	<0.001	0.010
DM-22-282	238.08	239.45	1.37	1.17	4.60	58.5	0.130	0.090	0.130
DM-22-283	307.00	310.00	3.00	2.14	1.66	6.3	0.050	0.010	0.200
incl	309.70	310.00	0.30	0.21	5.56	38.5	0.270	0.020	0.150
DM-22-283	312.13	316.00	3.87	2.75	7.28	60.0	0.940	0.270	0.550
incl	312.13	313.53	1.40	1.00	14.98	78.5	0.530	0.540	0.960
incl	313.99	315.00	1.01	0.72	5.42	87.0	2.020	0.190	0.580
DM-22-283	349.30	364.45	15.15	10.70	1.97	38.5	0.390	0.270	0.400
incl	360.18	364.45	4.27	3.01	4.30	80.0	0.790	0.500	0.730
DM-22-284	23.72	25.00	1.28	1.13	22.00	11.0	0.020	0.020	0.030
DM-22-284	240.00	241.00	1.00	0.88	3.86	0.8	0.000	<0.001	0.020

¹ True widths are estimates, vein dip is variable.

Figure 1: 2022 Phase 2 Boulder-Cabin area drilling plan map

The 2022 Phase 2 drill program totalled 41 drill holes totalling 12,327 meters (Figure 1).

Figure 2: Schematic long section, Boulder Vein, looking north

Previously released results (January 16, 2023) from shallow, up-dip drilling in this area included DM-22-263 (3.68 g/t Au and 37.4 g/t Ag over 6.44 meters and including 1.24 meters of 15.10 g/t Au and 103 g/t Ag) and DM-22-264 (7.76 g/t Au and 218.3 g/t Ag over 1.82 meters and including 0.89 meters of 13.80 g/t Au and 345 g/t Ag).

QUALITY ASSURANCE AND CONTROL

Core selected for sampling was cut in half with a core saw or split with a hydraulic splitter with one half bagged for shipping. Strict chain of custody storing, and shipping protocol was maintained. All core preparation and analyses were completed by Activation Laboratories Ltd. located in Kamloops, BC. Core was crushed, split, and pulverized with 250 grams passing 200 mesh. Each sample was analyzed for gold by fire assay with ICP-OES finish (Act Labs Code 1A2-ICP) and for multi-elements by 4-acid total digestion ICP with OES finish.(Act Labs Code 1F2) Any gold overlimits (>30 ppm Au) were analyzed by gravimetric fire assay. Standards and blanks were inserted by Company staff. The drilling and sampling program was undertaken by Company personnel and under the direction of Ted Vanderwart, P.Geo.

The scientific and technical disclosure in this news release was approved by William Cronk, P.Geo, a Qualified Person as defined in NI 43-101 and a consultant to the Company.

For further information, please contact:

Rana Vig
President and Chief Executive Officer
Telephone: 604-218-4766
Email: rana@ranavig.com

The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Statement Regarding Forward-Looking Information: This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that Blue Lagoon Resources Inc. (the "Company") expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include results of exploration activities may not show quality and quantity necessary for further exploration or future exploitation of minerals deposits, volatility of gold and silver prices, and continued availability of capital and financing, permitting and other approvals, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

SOURCE: Blue Lagoon Resources Inc.

View source version on accesswire.com:
https://www.accesswire.com/739256/Blue-Lagoon-Encounters-Additional-Significant-Intersections-from-Drilling-Along-Strike-West-of-The-Boulder-Vein-Resource

FAQ

What are the significant drilling results from Blue Lagoon Resources' recent press release related to BLAGF?

The recent press release highlighted key drilling results from DM-22-280 with 8.68 g/t Au and DM-22-283 with 7.28 g/t Au.

How many drill holes were completed in the 2022 Phase II drilling program by Blue Lagoon Resources?

A total of 41 drill holes were completed in the 2022 Phase II drilling program.

What is the location of the Dome Mountain Gold Project announced in BLAGF's recent press release?

The Dome Mountain Gold Project is located near Smithers, British Columbia.

What was the total depth drilled during Blue Lagoon Resources' 2022 Phase II program?

The total depth drilled during the 2022 Phase II program was 12,327 meters.

What analytical laboratory conducted the assays for the 2022 drilling program of Blue Lagoon Resources?

Analyses were conducted by Activation Laboratories Ltd. located in Kamloops, BC.