Blue River Resources: Phase One Diamond Drilling Program Completed on the Banlung Gold Project, Cambodia
(firmenpresse) - Blue River Resources: Phase One Diamond Drilling Program Completed on the Banlung Gold Project, Cambodia
VANCOUVER, BC, (August 24, 2017): Blue River Resources Ltd. (TSXV: BXR ) (OTC:BRVRF) (Frankfurt:0BL) (Blue River) is pleased to announce that the 11 hole diamond drilling program has been completed on the Banlung Gold Project in Cambodia, in conjunction with Angkor Gold Corp.
Drilling commenced on July 2, 2017 on the Banlung Tenement, which includes the Okalla West and Okalla East exploration zones. The two prospects are about 7 kilometres apart. Both are hosted by intrusive rock complexes.
The Okalla East area was originally explored by Angkor as a porphyry copper gold molybdenum style occurrence. The specific area targeted in this drill program reported higher copper and gold values in termite mound and auger hole sampling than found on other parts of the porphyry system and has also been exploited by artisanal gold miners in the past.
The first drill hole of this program was drilled at Okalla East, BL17-049D, and was drilled to follow up on a 34 gpt Au gold intercept from a 2011 drill program (see Angkor press release of October 24, 2011).
A preliminary examination of the first 2017 Okalla East hole drill core shows numerous cross-cutting veins and fractures throughout almost the entire 50 meter length of the hole. Many of the veins/fractures contain medium grained pyrite with some chalcopyrite. A second drill hole, Drill hole BL17-049D, was collared west of the first hole to test the along-strike extension. The core displayed massive coarse grained pyrite in narrow (<1 cm) fractures in the upper half of the hole transitioning downward into abundant open fractures containing chalcopyrite and pyrite with minor molybdenite in the bottom half of the 73 meter hole.
In addition, nine holes totalling 439.2 metres were drilled at the Okalla West target. The drilling was designed to test at depth surface gold anomalies that were outlined during the pit and auger hole program completed earlier this year (see Angkor press release dated March 6, 2017). The pit and auger hole program resulted in gold anomalies in soil and quartz pyrite mineralized vein float discovered during the test pit program. The gold anomaly outlined to date is 600 metres from north to south with a width of approximately 300 metres.
The drill program in the Okalla West zone tested the southern 300 metres of this anomaly which is open in all directions. Although there is no outcrop in the anomaly Blue River and Angkor believe that the gold anomaly is the result of mineralized quartz vein segments hosted in fault/shear zones. Preliminary examination of the core shows narrow quartz veins mineralized with both pyrite and chalcopyrite in fault/shear zones as wide as 10 metres in the south, narrowing to a few centimetres 300 metres to the north. All vein hosting fault/shear zones are within monzonite intrusive rock discovered by the current drill program. The Phase 1 drill program has proven very useful for understanding the potential for porphyry copper-gold mineralization in Okalla East and the geology and structure of the gold veins in the Okalla West zone area and will help tremendously in determining drill targets for subsequent programs.
Griffin Jones, President of Blue River Resources Ltd., stated We are very excited about the potential for two distinct mineralized zones on the 150 km 2 Banlung property.
The drill holes completed in the Phase 1 diamond drill program are as follows (BL=Okalla East; OKW=Okalla West):
Hole id Date LocatiAzimuthDip Depth
Completeon EOH
d
BL17-048D July 5 BL 180 -60 50.0
OKW17-001D July 7 OKW 270 -60 58.9
OKW17-002D July 13 OKW 90 -60 28.2
OKW17-003D July 19 OKW 90 -60 50.3
OKW17-004D July 21 OKW 90 -60 50.2
OKW17-005D July 25 OKW 90 -60 50.2
OKW17-006D July 28 OKW 90 -60 50.0
OKW17-007D July 31 OKW 90 -60 50.0
OKW17-008D Aug 4 OKW 90 -60 51.6
OKW17-009D Aug 8 OKW 90 -60 50.0
BL17-049D Aug 16 BL 180 -60 73.0
All assays are pending and will be reported in due course.
SAMPLE METHODOLOGY
Angkor Gold, as operator, maintains a rigorous sample quality control and assurance protocol, with the customary insertion of blanks and standards, cross checking and duplicate analysis, retention of all saw-split cores and sample pulps at their gated and fenced secure facility in Banlung. Analysis for publication are all done by accredited third party laboratories, usually ALS-Chemex in Vientiane or Perth, by SFA and AAS finish for gold, or ICP-MS for base metals In-house geochemical analysis of soil and termite mound samples are done at the companys Banlung laboratory by XRF for base metals and by panning for qualitative gold detection.
Angkors QA/QC protocol requires calibration standards and blanks to be inserted at a rate of 10 per 100. In addition, periodic checks are run on a selected spectrum of samples at ALS Chemex laboratories. All soil and rock samples are submitted to ALS Mineral-Australian Laboratory Services (Cambodia) Co. Ltd for preparation in Phnom Penh, and gold analyses are done by ALS by standard fire assay in their Vientiane laboratories. All other analyses are by Aqua Regia digestion with ICP-AES/ICP-MS (51 element ME-MS41 package) in their Australian laboratories. Initial assays use their Au-ICP22 method of standard fire assay with an ICP-Atomic emission spectrometry finish on a 50gm aliquot, which has a detection range of 0.001 to 10 g/t. Check assays use the Au-AA26 method of standard fire assay with an ICP-Atomic absorption spectrometry finish again on a 50gm aliquot, which has a detection limit of 0.01 to 100 g/t.
Technical information contained in this news release was reviewed by Jonathan Soper, P. Eng., a qualified person as defined under National Instrument 43-101. Mr Soper has reviewed and approved the scientific and technical disclosure in this news release.
ABOUT ANGKOR GOLD CORP.
ANGKOR Gold Corp. is a public company listed on the TSX-Venture Exchange and is a leading mineral explorer in Cambodia with a large land package and a first-mover advantage building strong relationships with all levels of government and stakeholders.
ABOUT BLUE RIVER
Under an agreement with Angkor, Blue River Resources Ltd. (TSX-V: BXR) has the right to participate initially in up to a 50% interest of the Banlung exploration license from Angkor Gold Corp., after the completion of a total investment of US$3.5 million in exploration expenditures over a 4-year period. Blue River may then exercise their option on an additional 20% interest of the Banlung tenement through the commission and completion of a bankable feasibility study on the property or portion thereof.
ON BEHALF OF THE BOARD
BLUE RIVER RESOURCES LTD.
/s/ Griffin Jones
Griffin Jones
President, Director
For further information contact:
Griffin Jones, Tel: (604) 682-7339
www.Blueriv.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain of the statements made and information contained herein may constitute forward-looking information. In particular references to the private placement and future work programs or expectations on the quality or results of such work programs are subject to risks associated with operations on the property, exploration activity generally, equipment limitations and availability, as well as other risks that we may not be currently aware of. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or or otherwise.
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