Bluestone Resources Inc. (TSXV:BSR) (OTCQB:BBSRF) continues to see promising results at its Cerro Blanco Gold project in Guatemala, which is one of the world’s highest grade undeveloped gold projects permitted for production.
On Tuesday, Bluestone released results from recent channel sampling that was taken across key vein exposures within a newly-accessed cross-cut in the North Zone of the project’s underground workings. The area, which was sealed off in 2015 by the project’s previous operator, was recently reopened and restored as part of the company’s ongoing exploration and underground development program.
A total of 47 samples were taken along exposures of five key veins that comprise part of the North Zone resource at Cerro Blanco, with individual sample widths ranging from 0.5 meters to 1.4 meters. The weighted average grade of all 47 samples was 18.2 grams per tonne gold (Au).
“The successful re-opening of this exploration drive has permitted sampling of several key veins within the upper portion of the Cerro Blanco resource and helped validate their importance within the current resource model. These impressive high-grade assays are consistent with our sampling early last year of the same veins lower down in the main decline of the North Ramp some 50 meters away,” said Bluestone VP of Exploration, David Cass. “The continuity and consistency of vein widths and grades is striking and supports our observations from the ongoing infill resource conversion drilling as we continue to advance our knowledge of the Cerro Blanco orebody and de-risk the project.”
Continuous channel sampling of the opposite north wall returned high-grade assays that revealed 19.9 meters grading 17.1 grams per tonne gold and 23 grams per tonne silver, while the opposite south wall showed 20.4 meters grading 18.9 grams per tonne gold and 33 grams per tonne silver.
Bluestone’s underground sampling program continues to play a key role in identifying high-grade gold veins both inside and outside of the current resource envelope.
Bluestone Continues to see Positive Results at Cerro Blanco
These positive sample results come just one week after Bluestone Resources announced high-grade drill assays from an ongoing infill resource conversion program at Cerro Blanco.
The drilling program, which has been focused on the North Zone of the project over the last few months, has “demonstrated remarkable consistency and continuity intercepting targeted veins.” The program also continues to identify new veins and is expected to be positive for resource updates in the future.
“We are very excited with the results to date as well as with the continued strengthening of our understanding on the geologic model which we believe will continue to add significant value to the project,” Cass said.
Results from all 47 drilling holes have been released; however, drilling is ongoing, and further results can be expected in due course.
Precious metal mineralization at the Cerro Blanco project is associated with classic low-sulphidation adularia-sericite epithermal quartz veins and vein swarms that are hosted in altered sequence of volcanoclastic and sedimentary rocks. Higher grades are associated with visible gold and silver sulphides in ginguro-style colloform-banded veins.
Investors who are interested in the gold space will want to keep an eye out on further results from Bluestone’s promising Cerro Blanco project, which will offer an average production rate of 146,000 ounces per year in its first three years of production.
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