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Bluestone Drills More High-grade Intercepts including 5.4 meters

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Edge83   Wednesday, 05/29/19 04:30:42 AM
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Bluestone Drills More High-grade Intercepts including 5.4 meters of
11.9 g/t Au and 84.5 g/t Ag

May 29, 2019 – VANCOUVER, BRITISH COLUMBIA – Bluestone Resources Inc. (TSXV:BSR | OTCQB:BBSRF) ("Bluestone" or the "Company") is pleased to announce further high-grade intercepts drilled as part of the infill resource conversion program at its Cerro Blanco Gold project. The primary focus of the program is to upgrade a portion of the Inferred Resources identified during the previous drill program completed in 2018.

The Cerro Blanco Feasibility Study (see press release January 29th, 2019) highlighted some 357,000 ounces of Inferred Resources (1.4 Mt grading 8.1 g/t Au) that could be potentially converted to Measured and Indicated Resources through infill drilling. Additionally, the program is also designed to define new resources along known veins in the mine plan that extend outside of the current resource envelope.

All holes cited in this press release were drilled from various platforms located in the North Ramp of the Cerro Blanco underground workings with the exception of hole UGCB19-134 which was drilled from the South Ramp. The majority of holes were drilled at sub-horizonal to positive angles (upwards) and designed to target Inferred Resources within the upper parts of the resource, with targeted veins successfully intercepted. Of note, hole UGCB19-136 was drilled at +22 degrees into the upper part of the deposit, intercepted a wider than expected zone of 11.9 g/t Au and 84.5 g/t Ag over 5.4 meters due to the coalescing of several structures.

The south-eastern part of the South Ramp orebody is host to a swarm of vertically extensive sub-vertical quartz veins with limited drilling and excellent potential to define additional ounces. Hole UGCB19-134 intersected six corresponding veins all of which are outside the current resource, including 3.9 meters grading 11.8 g/t Au and 83 g/t Ag.

A plan view showing drill hole locations, sections and core photos can be accessed by clicking HERE.

Results for a total of 39 holes have now been released to date as part of the Infill resource conversion program. Drilling is ongoing and further results will be reported in due course.

Precious metal mineralization at Cerro Blanco is associated with classic low sulphidation adularia-sericite epithermal quartz veins and vein swarms hosted in altered sequence of volcanoclastic and sedimentary rocks. Higher grades (>20 g/t Au and >60 g/t Ag) are normally associated with visible gold and silver sulphides in ginguro-style colloform-banded veins.

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