Blue Star Gold Developing a Golden and Growing Resource in Canada’s North

June 02, 2022 -

eResearch Corp. published a 52-page Initiation Report on Blue Star Gold Corp. (TSXV:BAU | OTC:BAUFF | FSE:5WP0) that is available to download for free at

Blue Star is a Vancouver-based mineral exploration and development company that explores for gold in Nunavut, Canada, and has acquired 100% ownerships in the Ulu Gold, Hood River, and Roma projects covering over 65,900 acres (26,674 hectares) in the High Lake Greenstone Belt (“HLGB”).

The company is the largest titleholder in the HLGB, a highly prospective and underexplored mineral-rich area with drill-ready targets. Greenstone belts are highly prolific and synonymous with high-grade gold production and often contain ore deposits of gold, silver, copper, lead, and zinc.

The Ulu Gold and Hood River properties are adjacent to each other, and the Roma project is located 48 km due north of the Ulu Gold Project. The Ulu Gold Project contains an NI 43-101 resource of 831,000 gold ounces from two zones (Flood and Gnu).

The mineral claims at the Ulu Gold Project were originally staked in 1988 and the Flood Zone gold deposit was discovered in 1989. Extensive exploration was conducted over the years by previous companies including BHP Group (ASX:BHP), Echo Bay Mines, Wolfden Resources (TSXV:WLF), and Elgin Mining.

There are almost 1,700 metres (“m”) of underground development as the Ulu deposit has a decline and crosscuts from a small bulk sample executed by Echo Bay. By 2012, there had been approximately 90,000m of diamond drilling completed, primarily focusing on the Flood Zone.

According to the technical reports, the existing resource has the potential for expansion as the Flood Zone is still open at depth, the Gnu Zone is still open along strike and at depth, and the other peripheral gold showings have exploration potential.

The 2021 exploration program delivered promising initial results that warranted further exploration. Key results included 52.7 grams/tonne (“g/t”) gold over 2.0m, 19.1 g/t gold over 4.91m, 6.9 g/t gold over 7.00m, and 13.0 g/t gold over 2.64m. In addition, a newly discovered vein system in the Gnu Zone, 750m northeast of the Flood Zone, returned 20.8 g/t gold over 8.15m.

Grant Ewing, Blue Star’s CEO, commented, "Blue Star has numerous very prospective target zones throughout its extensive landholdings that have seen only limited modern-day exploration as most of the focus historically has been on delineating our high-grade Flood Zone gold deposit. The addition of the Roma project in 2021 and the discovery of a new vein system at the Gnu Zone, which represents a different style of gold mineralization from that of the Flood Zone deposit, adds to our potential for further new discoveries and resource growth.”

Planning is already underway for the 2022 exploration program that includes a drill program, regional geophysical and geochemical surveys, and select mapping and prospecting over areas that have been identified as highly prospective.

Substantial infrastructure associated with previous work already exists at the Ulu Gold Property including capital equipment, a Weatherhaven camp with a shop, and a 1,200-metre long airstrip.

Northern Canada has emerged as a new mining and exploration hotspot with projects in Nunavut, the Northwest Territories, and the Yukon. Nunavut is the largest and northernmost territory of Canada and was separated from the Northwest Territories in 1999. The past-producing Lupin gold mine lies 125 km to the southwest and the High Lake base metal deposit (MMG Ltd.) is 50 km to the northeast.

Blue Star is currently trading at C$0.60 with a market cap of less than C$32 million but with an existing resource to build upon, and its extensive land package with existing gold showings and targets, eResearch believes there is upside potential for the stock price.

For more information about eResearch's 52-page Initiation Report on Blue Star Gold, please visit eResearch's website (

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