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Blue Lagoon Resources Inc. (BLAGF) is a mining company based in Vancouver, BC, focused on the Dome Mountain gold project. The company recently achieved milestones in permitting and engagement with the Lake Babine Nation. With the signing of a mine restart agreement, Blue Lagoon Resources is dedicated to responsible mining practices and working in partnership with the Indigenous community to bring economic benefits to the region. The company closed an oversubscribed private placement offering, demonstrating confidence in the Dome Mountain Project's potential.
Blue Lagoon Resources Inc. has announced the completion of its water treatment plant, a crucial step toward resuming mining at its Dome Mountain Gold Project. Located near Smithers, BC, the project holds permits for annual production of up to 75,000 tonnes and has 15 known high-grade gold veins. The plant's operation is critical for fulfilling environmental permitting requirements. The company has completed various essential tasks including underground bolting and emergency egress installation. Additionally, it has sold the Golden Wonder property to Gama Explorations for shares and cash, allowing it to focus on more advanced projects.
Blue Lagoon Resources Inc. (OTCQB: BLAGF) announced promising results from its soil sampling program at the Dome Mountain Gold Project, revealing significant gold anomalies and multi-element associations. The 2020 program identified multiple gold zones, prompting a follow-up exploration with at least 4,000 additional samples planned for 2021. The high-grade rock samples, including values of 90.6 g/t Au and 129 g/t Ag, from the Freegold vein further support the site's potential. The company is prioritizing this area for upcoming drilling, aiming to enhance mineral exploration effectively.
Blue Lagoon Resources (OTCQB:BLAGF) announced that President & CEO Rana Vig increased his holdings by 1 million shares, totaling 3,264,268 shares, or approximately 4.5% of the company's outstanding shares. With over $5 million in treasury and no debt, the company is working on three key mining permit amendments, one of which is completed. The Dome Mountain Gold Project has 15 high-grade gold veins, with 90% of its area unexplored. The company also expanded its land package to 18,934.55 hectares and is conducting a 20,000-meter drill program.
Blue Lagoon Resources Inc. (CSE:BLLG)(FSE:7BL)(OTCQB:BLAGF) has announced a fully subscribed private placement offering of 2,202,000 flow-through units at $1.00 each and 148,352 common shares at $0.91, totaling $2,337,000 in gross proceeds. The offering closes on November 23, 2020. Proceeds will support exploration at the Dome Mountain gold project and general working capital. A 6% finder's fee will be paid, along with warrants. The company's upward financing indicates investor confidence and potential growth for shareholders.
Blue Lagoon Resources Inc. (OTCQB: BLAGF) announced significant results from its Dome Mountain Gold Project in British Columbia, following a 3,700-meter drilling program. Notable assay results include hole DM-20-132, which returned 25.92 g/t Au and 169.46 g/t Ag over 4.52 meters. Another hole, DM-20-131, yielded 45.5 g/t Au over 0.65 meters. The company is advancing construction of an Ore Storage building capable of handling 200 tonnes of mineralized material daily. Phase two drilling is expected to commence in early January 2021.
Blue Lagoon Resources has announced an update on its Dome Mountain Gold Project, which holds significant mining permits allowing for annual production of up to 75,000 tonnes. The company's drilling program, part of a 3,700-meter work initiative, aims to upgrade inferred mineral resources. Highlights include strong assay results from DM-20-116, with 34.5 g/t Au and 54 g/t Ag, and from DM-20-126 with 41.86 g/t Au and 250.72 g/t Ag. Ongoing soil sampling and infrastructure improvements are also noted. The company is assessing future production decisions, which remain contingent on feasibility studies.
Blue Lagoon Resources provided an update on its Dome Mountain Gold Mine Project, highlighting the completion of a 3,000-meter drilling program. Initial results from drill holes DM-20-114 and DM-20-115 reveal significant gold-bearing quartz veins, with DM-20-114 indicating a promising mineralization upgrade. Additionally, 26 holes have been drilled, totaling 3,732m, with results from 24 pending. An airborne survey is nearing completion, and a multi-year exploration permit application has been filed to explore high-grade vein targets. The company is also progressing with water treatment facility testing and underground work.
Blue Lagoon Resources (CSE:BLLG)(OTCQB:BLAGF) has initiated amendments for its mining permit on the Dome Mountain Gold Project, enabling potential production of up to 75,000 tonnes annually. The project, located near Smithers, BC, boasts 15 known high-grade gold veins, with most of the 11,290-hectare area still unexplored. The company has secured over $7.5 million in funding and is debt-free, positioning it well to explore opportunities. Key amendments include completing a Water Treatment Plant and Ground Control Management Plan, with ongoing drilling expected to yield results by September 30, 2020.
Blue Lagoon Resources Inc. (CSE:BLLG)(FSE:7BL)(OTCQB:BLAGF) has issued a press release to clarify issues identified by the British Columbia Securities Commission regarding its preliminary economic assessment of the Dome Mountain Mine. The Dome Report dated July 13, 2020, does not meet the National Instrument 43-101 standards, leading the Company to retract previous technical disclosures on project economics. Blue Lagoon is preparing a compliant technical report, expected to be filed within two weeks.
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