Vancouver, British Columbia--(Newsfile Corp. - November 20, 2017) - Bluestone Resources Inc. (TSXV: BSR) ("Bluestone" or the "Company") is pleased to announce that it has commenced the Phase 1 diamond drill program on its 100% owned Cerro Blanco gold project. Two drills are operating on site and will carry out the initial 5,000 m program which is focused on areas that are under-drilled and are either adjacent to, or exist as targets, within the resource envelope. The program will also assist in refining the resource model that is being developed in conjunction with the Feasibility Study as announced on September 18, 2017.
The drill program will continue into Q1 2018, with initial results expected in the quarter.
Bluestone's President & CEO Darren Klinck commented, "We are very pleased to commence drilling at Cerro Blanco, we see an opportunity to increase our understanding of the deposit and target ounces within and around the resource envelope in preparation of a revised resource estimate expected mid -year 2018."
Qualified Persons
Garth Kirkham, P.Geo., Kirkham Geosystems Ltd., is the designated Independent Qualified Person for this news release within the meaning of National Instrument 43-101 ("NI 43-101") and has reviewed and verified that the technical information contained herein is accurate and therefore approves this written disclosure of the technical information.
About Bluestone Resources
Bluestone Resources is a mineral exploration and development company that is focused on advancing its 100% owned Cerro Blanco gold and Mita geothermal projects located in Guatemala. The Cerro Blanco Project economics, as disclosed in the Company's Cerro Blanco Preliminary Economic Assessment which is available at www.sedar.com, and updated mineral resource estimate for Cerro Blanco indicates a robust project with an expected nine-year mine life producing 952,000 ounces of gold and 3,141,000 ounces of silver. Initial capital expenditures estimated in the PEA to fund construction and commissioning is estimated at US$170.8 million with all-in sustaining cash costs (as defined per World Gold Council guidelines, less corporate general and administration costs) estimated to be US$490 per ounce of gold produced. The Company trades under the symbol "BSR" on the TSX Venture Exchange.
