NIA is excited to announce a new gold stock suggestion Blue Lagoon (CSE: BLLG) or BLAGF on the OTCQB.
BLLG is currently trading for $0.60 per share and has only 73,463,191 shares outstanding for a market cap of CAD$44.08 million. BLLG has a strong net cash position of CAD$5.8 million giving BLLG an enterprise value of CAD$38.28 million!
BLLG has four different gold projects with its flagship gold project being Dome Mountain where the company has already discovered 15 gold veins with a massive 20km geological strike. 90% of the 18,935 hectare property has yet to be explored. This is an all-year road accessible gold project located a short 50-minute drive from Smithers B.C. It already holds both an Environmental Management Act Permit (EMA) and a Mining Permit providing for up to 75,000 tonnes production annually.
When the last underground mining at Dome Mountain took place in 1992, an estimated 6,000+ tonnes of high-grade mineralized material was never removed and remains stored underground. In September 2017, over 5,000 tonnes of this mineralized material was assayed and yielded extremely high gold grades. The samples ranged from 10.2 g/t gold up to 41.5 g/t gold!
BLLG has started to remove the mineralized material from its underground mine and will begin to accumulate and store it in its newly constructed ore storage building. Once the final snow melts, the yearly spring break-up complete, and weight limits removed from the local roads, trucks will immediately begin transporting the material to BLLG's toll milling partner, Nicola Mining, which has a state-of-the-art milling facility located in Merritt BC. This is currently scheduled to begin during the week of June 14th, 2021.
On December 21, 2020, BLLG established an initial 43-101 indicated resource at Dome Mountain of 175,980 tonnes grading 12.45 g/t gold and 60.41 g/t silver for 70,418 oz of gold and 341,784 oz of silver. BLLG also established an additional 43-101 inferred resource of 408,105 tonnes grading 8.32 g/t gold and 36.12 g/t silver for 109,160 oz of gold and 473,890 oz of silver.
This is one of the highest grade gold projects in British Columbia!
Past performance is not an indicator of future returns. NIA is not an investment advisor and does not provide investment advice. Always do your own research and make your own investment decisions. This message is not a solicitation or recommendation to buy, sell, or hold securities. NIA has received compensation from BLLG of USD$50,000 cash for a six-month marketing contract. This message is meant for informational and educational purposes only and does not provide investment advice.