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Blue Lagoon Signs Option on Gordon Lake High Grade Gold Property, NWT
VANCOUVER, BC / ACCESSWIRE / December 9, 2019 / Blue Lagoon Resources Inc. ("Blue Lagoon" or "Company") (CSE:BLLG)(FSE:7BL)(OTC:BLAGF) is pleased to announce th
About this update from Blue Lagoon Resources Inc
[{"type":"text","content":" VANCOUVER, BC / ACCESSWIRE / December 9, 2019 / Blue Lagoon Resources Inc. (\"Blue Lagoon\" or \"Company\") (CSE:BLLG)(FSE:7BL)(OTC:BLAGF) is pleased to announce that it has entered into an option agreement with Exgen Resources Inc. (\"Exgen\"), a TSXV listed company, pursuant to which the Company may acquire an 80% interest in the Gordon Lake gold property located in the Northwest Territories of Canada. ABOUT THE GORDON LAKE PROJECT The Gordon Lake gold property consists of 2 contiguous mineral leases located 110 kilometers northeast of Yellowknife in the Northwest Territories of Canada. The Gordon Lake Property is located on NTS sheet 085P/06 in the Northwest Territories, Canada. It is centered about 63° 17' N latitude and 113° 02' W longitude or UTM 397979 E 7018543 N (NAD83, Zone 12) (Figure 1). The claim group lies in the Mackenzie Mining District and covers ground at the north end of Gordon Lake. This is an area associated with turbidite-hosted gold occurrences approximately 115 km northeast of Yellowknife, NT. The property covers 1505 acres centered about 2200 meters north of Gordon Lake. Access is by helicopter and ski- or float-equipped aircraft in the winter or summer. A maintained winter road, which traverses Gordon Lake to service the diamond mines to the north, is commonly operational from the third week in January to the third week in March. This winter road traverses through the eastern portion of the property and provides truck accessibility during the winter road season. A 3 kilometer long bush road joins the Main Zone at Ven Lake with the winter road. The most recent technical report on the property was completed by Boxxer Gold Corporation* in 2011 (now Exgen). This report highlights 17 zones of high-grade shear hosted gold mineralization (only three of which have been drill tested), over a 1 kilometer strike length (generally North to South), and have been identified by geophysical surveys (2004 and 2011 MAG and IP, and 2010 Airborne MAG) and 97 drill holes (total of 7313.8 meters) drilled in 1983, 1988 and 2005. The gold-bearing quartz veins of Gordon-Ven Lake are classified as Coarse Gold-bearing veins occurring in metaturbidite hosted mesothermal vein systems. Figure 1 INITIAL WORK PLAN Blue Lagoon expects to immediately begin a work phase consisting of project level compilation, GIS update and assessment ...