Blue Lagoon Announces Mobilization for Phase One Drill Program at Dome Mountian
(firmenpresse) - July 17, 2020 - Vancouver, British Columbia - Blue Lagoon Resources Inc. (the Company) (CSE: BLLG; FSE: 7BL; OTCQB: BLAGF) is pleased to announce that it has initiated mobilization for its planned Phase One drilling program at the Companys Dome Mountain Gold Project located a short 50 minute drive from the town of Smithers, British Columbia, Canada.
The Dome Mountain Gold Mine Project holds a Mining Permit and Environmental Management Act Permit (EMA) providing for up to 75,000 tonnes production annually plus a long term Milling and Mining Profit Share Agreement with Nicola Mining Inc., which operates a modern mill facility located near Merritt, British Columbia.
Phase One Drilling will consist of 2800 meters of HQ diamond drilling from 22 holes located on eight pre-existing pads. All access roads are in place and permitted. No tree cutting or road/pad construction is needed. At this time staff from the Blue Lagoon office in Smithers has installed sumps at each proposed pad location and is currently constructing a core shack and core saw facility.
Driftwood Drilling of Smithers British Columbia will be performing the drilling and, drill and drill rods have already been mobilized to site.
The expected start up for drilling is Monday July 20, 2020.
In addition, the Company is pleased to announce that it has engaged Canaccord Genuity Corp. as financial advisor to the Company to assist in reviewing strategic options to enhance shareholder value. Canaccord is an independent, global, full-service investment bank focused on growth companies. With global operations, Canaccord has significant experience in the mining sector including acquisitions, mergers, divestitures and corporate finance.
Canaccord Genuity is currently one of the top financiers in the mining industry and we look forward to working with them to assist us in growing the Company, said Rana Vig, President and CEO of Blue Lagoon Resources.
The scientific and technical data contained in this news release was approved by William Cronk, P.Geo., a qualified person as defined in NI 43-101 and a consultant to the Company.
For further information, please contact:
Rana Vig
President and Chief Executive Officer
Telephone: 604-218-4766
Email: rana(at)ranavig.com
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release
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Datum: 17.07.2020 - 03:21 Uhr
Sprache: Deutsch
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