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Blue Lagoon Resources Continues to Make Significant Strides During First Quarter of 2022
Provides First Quarter Recap VANCOUVER, BC / ACCESSWIRE / April 4, 2022 / Blue Lagoon Resources Inc. (the "Company") (CSE:BLLG) (FSE:7BL) (OTCQB:BLAGF) is pleas
About this update from Blue Lagoon Resources Inc
[{"type":"text","content":" Provides First Quarter Recap VANCOUVER, BC / ACCESSWIRE / April 4, 2022 / Blue Lagoon Resources Inc. (the \"Company\") (CSE:BLLG) (FSE:7BL) (OTCQB:BLAGF) is pleased to provide shareholders its first update and recap of the first quarter of 2022. The Company's numerous accomplishments in the first quarter included the following. FINANCING WITH STRATEGIC INVESTORS BOOSTS HEALTHY TREASURY WITH NO DEBT On March 22, 2022, the Company announced the closing of a flow through financing of $5,746,983.84, thereby boosting its treasury to nearly $9 million. In addition, the Company has over $4 million in-the-money warrants that are exercisable at $0.50 and expire on Aug 12, 2022. \"We are continuing with our aggressive strategy of advancing the Dome Mountain gold project at a rapid pace, having accomplished numerous important goals since acquiring this project only two years ago this past week,\" said Rana Vig, President and CEO of Blue Lagoon Resources. \"Our entire team continues to wholeheartedly believe that we have an exceptional project at Dome Mountain. This belief was further bolstered last month by sophisticated investors like Crescat Capital and its strategic technical advisor, world renowned geologist, Dr. Quinton Hennigh, when they made a second investment in our company, which provided for more than 18% of the $5.7 million capital raise,\" he added. PRESIDENT & CEO ACCUMULATES MORE SHARES The Company's President and CEO, Rana Vig, bought 100,000 shares (figure 1) in the open market during March 2022, thereby bolstering his personal share position to over 3.4 million. NEW ZONES IDENTIFIED FOR PRIORITY FOLLOW UP IN 2022 In January 2022 the Company announced the results of its 2021 soil sampling program that resulted in identification of strong anomalous gold, zinc, and copper-in-soils zones in a number of new zones which warrant follow-up during the Company's 2022 exploration program. In a news release dated January 20, 2022, Blue Lagoon Resources chief geologist, Bill Cronk said, \"the soil sampling program was remarkably successful in that we identified multiple gold-in-soils anomalies as well as strong multi-element associations with the gold. The more anomalous elements (Zn, Cu, As, Mo, Pb etc.) that we see associated with gold, the higher degree of confidence we have of an underlying mineralized system thus, allowing u...