Blue Lagoon Resources, Near-Term Production Opportunity, High-Grade Gold & Silver In B.C.

The views expressed in the following article are solely that of its author, Peter Epstein. Any commentary by Mr. Epstein about potential mining activities or resource size are his opinions alone. All $ figures are C$ unless indicated otherwise. “Au” = gold, “Ag” = silver.

Blue Lagoon Resources (CSE: BLLG) / (OTCQB: BLAGF) recently announced its Fall 2020 prospecting program results, and importantly, the addition of a second drill rig to its largest ever 20,000+ meter program on the 18,935-hectareDome Mountain Gold-Silver project(15 known high-grade vein systems, 20 km geological strike), 50 minutes from the storied mining town of Smithers B.C. 

The Company has other meaningful assets, including the 100%-owned, 7,120 ha Pellaire (Gold), and 4,810 ha Big Onion (porphyry copper) projects. More on those later, as Dome Mountain is the main focus. {please see new corporate presentation here.}

Over $100M (in today’s $) spent exploring just 10% of the Dome project…

In today’s dollars, over $100M has been invested into exploration & development, by serious companies including Noranda & Timmins. In 1987 Noranda outlined a resource of ~20k tonnes at 23.6 g/t gold (“Au”) [not NI 43-101 compliant], at the Forks target. That’s just one of 15 known vein systems on the property. Forks is ~500 m south of the Company’s existing resource of ~190k Au Eq. ozs., at a wtd. avg. grade of ~10.1 g/t

Amazingly, decades of investment was directed at chasing the Boulder Vein system across just ~10% of the recently enlarged Dome Mountain project. Recently, for the first time, a property-wide airborne geophysics program was flown. 

Five very attractive targets were readily identified, but the technical team is still analyzing the data and believes there are probably a dozen or more. 

(Click on image to enlarge)

Later this year Dome Mountain could have line-of-sight to a high-grade resource approaching a million gold Equiv. ounces. And, there would still be substantial blue-sky potential across the other 14 high-grade vein systems on the 18,935 ha footprint.

Consider this exclusive quote by CEO Rana Vig

“Our approach to drilling the Dome property is two-fold. Firstly, from data we have, there’s a high degree of confidence that we can grow the resource on the Boulder Vein system by more than five times by following up on 2016 drilling and drilling a known 800-meter extension to the west. That, and expanding upon the limited drilling done at depth — which is known to be high-grade...

Secondly, we will chase substantial blue-sky potential by drilling some of the 15 known high-grade gold-silver vein systems, especially new targets recently identified by the first-ever property-wide airborne survey. Regarding our ongoing drill program — visually we can see we’re hitting mineralization, but we won’t get any assays back until early March.

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