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Blue Lagoon Resources Completes Airborne Geophysical Survey - Reports Latest Drill Results
VANCOUVER, BC / ACCESSWIRE / October 6, 2020 / Blue Lagoon Resources Inc. (the "Company") (CSE:BLLG) (FSE:7BL) (OTCQB:BLAGF) is pleased to announce completion o
About this update from Blue Lagoon Resources Inc
[{"type":"text","content":" VANCOUVER, BC / ACCESSWIRE / October 6, 2020 / Blue Lagoon Resources Inc. (the \"Company\") (CSE:BLLG) (FSE:7BL) (OTCQB:BLAGF) is pleased to announce completion of the field phase of airborne geophysical surveys over its Dome Mountain Gold Project, located a short 50-minute drive from the town of Smithers B.C. These surveys, which were flown by Precision GeoSurveys Inc. of Canada, provide the Company with detailed low altitude (helicopter-borne) Magnetic, Electromagnetic (\"EM\") and Radiometric data, and were completed in two different phases with 1173.3 km of mag/radiometrics and 1475.5 km of EM/mag, both at 100m line separation. \"This is an important milestone for Dome Mountain as it's the first time that this type of leading-edge, deep-penetrating airborne survey has been flown on the property, 90% of which has never been previously explored. Most importantly, this will provide us with excellent data to be able to identify, locate and better define conductors and exploration targets for our next drill program that we plan to start later this year and expect to continue well into 2021,\" said Rana Vig, President and CEO of Blue Lagoon Resources. \"Having recently closed a $7.5 million financing and no debt, we are focused and committed to rapidly move the Dome Mountain project forward and, with the help of this new technical data, we are designing what will be the largest exploration program conducted on the property to date,\" he added. The new Mag images reveal a prominent northwest trending structural zone defined by two parallel, linear magnetic anomalies interpreted to reflect mafic dikes intruded along a pair of faults. Several minor linear magnetic anomalies occur between and adjacent to these main structures and suggest a complex fracture system which may provide sites for vein-style gold mineralization. In addition, at least five positive, circular magnetic anomalies are interpreted to reflect small (approximately 400m to 800m diameter) intrusions into the volcanic and sedimentary Hazelton Group host rocks. At least one of these is surrounded by a concentric magnetic depression suggestive of possible alteration systems (see white dotted ellipse on Figure 1, number 3). These five circular magnetic anomalies present potential Porphyry Copper/Gold/Moly style exploration targets for the Company to pursue. Ground truthi...