Bluestone Resources (BSR.V) is still working on a five rig drill program on its Cerro Blanco project in Guatemala, where the company continues to boost its confidence levels in the known mineralization and the continuity and grade of the epithermal vein type mineralization at Cerro Blanco.
Bluestone has released the assay results from five holes, three underground holes and two surface holes, and some of those holes contained eye-catching gold grades.
It’s important to realize the reported intervals in the image above already represent the true widths of the encountered mineralization, so no additional dilution (other than mining dilution in a production scenario) will have to be applied. That immediately emphasizes the importance of for instance 2.1 meters of 23 g/t gold (which represents a gross rock value of in excess of $1300/t using $1800 gold), and we are looking forward to the resource update for Cerro Blanco, which is slated for Q1 2021.
Meanwhile, Bluestone’s corporate presentation still mentions Q4 as target to complete the financing package for the full construction of Cerro Blanco, so we should see some news on that front sooner rather than later.
Disclosure: The author has no position in Bluestone Resources. Please read our disclaimer.