Breaking News: Bluestone Announces Additional Drill Results – 3.3 meters of 27.9 g/t Au and 260 g/t Ag at Cerro Blanco

Bluestone Resources Inc. (OTCQB: BBSRF) (TSX-V: BSR) is pleased to announce additional infill drill results from resource conversion drilling underway at its high-grade Cerro Blanco Gold project. The focus of the ongoing infill drill program is to upgrade the Inferred Resources into Measured and Indicated Resources.

Bluestone recently announced results of a Feasibility Study on the high-grade Cerro Blanco Gold project (see press release January 29, 2019) where one of the principal recommendations for optimizing and further enhancing the project was through potential conversion of a portion of the 360,000 ounces of Inferred Resources to Measured and Indicated Resources through infill drilling (currently ongoing), which will be followed by an updated mineral resource and mine plan.

Two LM-75 diamond drill rigs are currently situated within the North Zone of the Cerro Blanco underground workings and are targeting specific veins in the upper part of the Cerro Blanco resource that can be converted to the Indicated Resource category by infill drilling.

The primary focus of the program is to upgrade the Inferred Resources identified during the previous infill drill program completed in 2018. In addition, this program is also designed to define new resources along known veins in the mine plan that extend outside of the current resource envelope.

Table 1. Significant Intercepts

Au g/t Ag g/t VEIN ID
UGCB18-107 Results Pending
UGCB18-108 Results Pending
UGCB18-109 33.7 34.7 1.0 1.0 8.5 P New
80.2 81.38 1.2 1.2 5.1 83 VN_01
86.0 87.1 1.1 1.1 4.8 44
95.85 99.1 3.3 3.3 27.9 260 VN_02
UGCB18-110 33.7 34.74 1.0 1.0 19.9 170 New
108.4 110.4 2.0 2.0 10.0 113 VN_02
113.1 114.1 1.0 1.0 18.3 97 VN_03

Notes: Intervals in bold are cited in the text of the news release. A complete table with hole coordinates and azimuth/dip information accompany the plan view attached to this release. P – Results pending

David Cass, Vice President of Exploration commented, “The infill drilling program has been designed to strategically target key veins with upgrading resource categories. To date, the program has had an excellent success rate with every key intercept expected to have a positive impact on future project economics, with intercepted veins showing remarkable consistency and continuity, validated by optimum hole orientations reflected in the drilled true widths.”

Hole UGCB18-109 and UGCB18-110 were both drilled from the same underground platform at a positive angle (+35 and +51 degrees respectively). The principal objective of these holes was conversion or extension of veins VN_01, 02 and 03 from Inferred to Indicated Resources. UGCB18-109 intercepted all targeted veins as planned with VN_02 assaying 3.3 meters at 27.9 g/t. Hole UGCB18-110 intersected veins VN_02 and VN_03 with the former assaying 2.0 meters at 10 g/t Au (see table).

Additionally, a new vein, located in the footwall of vein VN_01 was intercepted at 33.7 meters in both holes ( 1.0 meter at 8.5 g/t Au and 1.0 meter at 19.9 g/t Au) and correlates with intercepts drilled in holes UGCB18-101 and UGCB18-106 that assayed 1.95 meters at 12.6 g/t Au and 1.0 meter at 12.4 g/t Au respectively (see press releases January 9th and January 24th, 2019). This new vein is outside of the current resource and will be referred to as VN_18 in future updated resource models.

Drilling is continuing and further results will be reported as received. A plan view showing drill hole locations can be accessed by clicking HERE.

Quality Analysis and Quality Control

Assay results listed within this release were performed by Inspectorate Laboratories (“Inspectorate”), a division of Bureau Veritas, which are ISO 17025 accredited laboratories. Logging and sampling are undertaken on site at Cerro Blanco by Company personnel under a QA/QC protocol developed by Bluestone. Samples are transported in security-sealed bags to Inspectorate, Guatemala City, Guatemala, for sample preparation. Sample pulps are shipped to Inspectorate Laboratories in Vancouver, BC, Canada or Reno, NV, USA, and assayed using industry-standard assay techniques for gold and silver. Gold and silver were analyzed by a 30-gram charge with atomic absorption and/or gravimetric finish for values exceeding 5 g/t Au and 100 g/t Ag. Analytical accuracy and precision are monitored by the analysis of reagent blanks, reference material, and replicate samples. Quality control is further assured by Bluestone’s QA/QC program, which involves the insertion of blind certified reference materials (standards) and field duplicates into the sample stream to independently assess analytical precision and accuracy of each batch of samples as they are received from the laboratory. A selection of samples is submitted to ALS Chemex Laboratories in Vancouver for check analysis and additional quality control.

Qualified Person

David Cass, P.Geo., Vice President Exploration, is the designated Qualified Person for this news release within the meaning of National Instrument 43-101 and has reviewed and verified that the technical information set out above in this news release is accurate and therefore approves this written disclosure of the technical information.

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  1. Harold Wesley 5 months ago

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  2. Tyler Jenks 5 months ago

    The stock market struggling at S&P 500 2750. Gold at $1315. Dollar struggling at 96.50 DXY.

  3. Dave Rojas 5 months ago

    Look at $GLD vs $SPY and tell me that you don’t think we are heading into a new gold bull market. Trump bragged at the SOTU address on how much tariffs he was pulling in… things IMO are about to get really real here shortly with China.

    • Rommel James 5 months ago

      When markets tend to panic it’s been my experience that most will sell assets to raise cash. Gold, Stocks, Bonds etc though we have yet seen if Bitcoin will act the same as it hasn’t gone through a panic yet. My hunch is that it will and rebound stronger than any other too.

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