Blue Lagoon Starts 2021 Soil Sampling Program at Dome Mountain

Rhea-AI Summary

Blue Lagoon Resources Inc. (OTCQB: BLAGF) has commenced its 2021 soil sampling program at the Dome Mountain Gold Project, located near Smithers, B.C. This follows the successful 2020 program that identified strong gold anomalies in soil samples, highlighting new zones of interest. Approximately 4,000 soil samples are expected to be collected this season, with results from prior samples indicating potential for significant mineralization. The company has also engaged Volume Hunters for a 12-month marketing contract worth $35,000 to enhance investor engagement.

Positive

• Identification of strong anomalous gold in 2020 soil sampling, focusing exploration efforts for 2021.
• Discovery of new gold zones at the Dome Mountain Gold Project suggesting potential mineralization.
• Engagement of marketing firm Volume Hunters to increase public awareness and investor engagement.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / June 29, 2021 / Blue Lagoon Resources Inc. (the "Company") (CSE:BLLG) (FSE:7BL) (OTCQB:BLAGF) is pleased to announce that crews have begun the 2021 soil sampling program on its Dome Mountain Gold Project - a year-round accessible property located a short 50-minute drive from Smither B.C.

The Company's 2020 soil sampling program resulted in identifying strong anomalous gold in soils zones which will be the focus of immediate follow-up during this year's field program (see press release February 24, 2021). During the 2020 program, 1178 B-soil samples were collected (including 10% QAQC samples blanks, duplicates and standards inserted into the sample stream). Also, the 2020 program focused on near mine locations including sampling over known mineralization at the Boulder and Forks zones (see figure one) which were designed to investigate the soils response over the known mineralization and were confirmed by the anomalous gold values as expected.

The values returned from just south of the Freegold veins are new and clearly show a new south trending zone of interest. This area will be the immediate focus of the Company's 2021 exploration season.

Figure 1. Property map showing 2020 soil sample locations and gold on Airborne MAG and proposed 2021 sample locations (solid black lines).

Figure 2. Shows gold in soils results at Freegold from the 2020 soils program and priority soils sampling to take place immediately: approximately 600 soil samples.

Figure 3. Copper in soils results from 2020 work at Freegold and priority sampling locations to begin immediately: approximately 600 soil samples.

Anomalous pathfinder elements associated with the high gold-in-soils values at Boulder include antimony, zinc, lead, and silver. At Forks, anomalous pathfinder elements associated with anomalous gold include arsenic, bismuth, lead, molybdenum, and antimony.

Anomalous pathfinder elements associated with gold-in-soils anomalies at Freegold include antimony, copper, molybdenum, zinc, lead, mercury, bismuth, uranium and silver. These coincident anomalies represent the potential for a significant underlying mineralized system.

Some of these anomalous zones will be the focus of diamond drilling this summer however, all will be the focus of follow-up soil sampling and prospecting and prioritization as drilling targets. In addition, property wide soil sampling and prospecting will continue along lithological-structural areas as defined by the 2020 airborne magnetic and electromagnetic geophysics program.

In total, 4,000 soil samples are expected to be collected this season.

QUALITY ASSURANCE AND CONTROL

All rock analyses were completed by Bureau Veritas out of Vancouver. Core selected for sampling was cut with a core saw in half with one half bagged for shipping. Strict chain of custody storing, and shipping protocol were maintained. Core was crushed, split, and pulverized with 250 grams passing 200 mesh. Each sample was analyzed by MA370 4-acid digestion ICP with ES finish and FA 150 fire assay with ICP-MS finish, and all Au over limits <1ppm were analyzed with FA 550 fire assay and gravimetric finish. Standards and Blanks were inserted by Company staff. The sampling program was undertaken by Company personnel by and under the direction of William Cronk, P.Geo.

SAMPLE PROTOCOLS

Soil sample analysis at ALS started with Prep 41 (dry and sieve to -80 mesh) and followed up with Au-AA24 and ME-MS61, which is a 48 element four acid digestion for ICP-MS.

The company is also pleased to announce that it has entered into a marketing contract with Volume Hunters of Vancouver, B.C. The agreement is for a period of 12 months at a cost of $35,000. Volume Hunters will raise public awareness of the Company, including its social media presence and facilitate greater investor engagement and widespread dissemination of the Company's news.

The scientific and technical data contained 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.

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FAQ

What is the latest development from Blue Lagoon Resources regarding the Dome Mountain Gold Project?

Blue Lagoon Resources has started its 2021 soil sampling program, following successful results from the 2020 program.

How many soil samples will be collected in Blue Lagoon's 2021 program?

The company expects to collect approximately 4,000 soil samples during the 2021 exploration season.

What is the stock symbol for Blue Lagoon Resources?

The stock symbol for Blue Lagoon Resources is BLAGF, trading on the OTCQB.

Who has Blue Lagoon Resources contracted for marketing efforts?

Blue Lagoon has contracted Volume Hunters for a 12-month marketing agreement costing $35,000 to boost investor engagement.

What were the findings of the 2020 soil sampling program by Blue Lagoon Resources?

The 2020 program identified strong anomalous gold zones, confirming mineralization at the Boulder and Forks zones.