# Blue Star Updates its Ulu Gold Project Mineral Resource Estimate

Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--508d1efe-6133-4948-8b0c-d30f9ac0fe77

Original source: https://money.tmx.com/en/quote/BAU/news/5297760691851795/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate

Publisher: tmx

Original announcement: 2026-05-21T12:00:00.000Z

Analysis by Minestarters Atlas

Atlas analysis published: Unknown date

Atlas analysis updated: Unknown date

- Company: Blue Star Gold Corp.

- Ticker: BAU

- Exchange: TSX

- Region: Nunavut, Canada

- Primary commodity: Gold

- Secondary commodities: None reported

- Document categories: Resource update

- Extracted: 2026-08-20 22:49:17 UTC

Narrative sentiment: 0.80 · Bullish

## Minestarters Atlas summary

Blue Star Gold Corp. announced an updated Mineral Resource Estimate for its Ulu Gold Project in Nunavut, Canada, reporting 2.204 million tonnes at 7.87 g/t gold for 558,000 ounces in the Measured and Indicated categories. The Inferred Mineral Resource increased to 3.263 million tonnes at 4.54 g/t gold for 476,000 ounces, highlighting significant growth potential. The estimate incorporates revised geological interpretations and updated cut-off grades, prepared by independent Qualified Persons in compliance with NI 43-101 standards.

Reasoning: Blue Star Gold Corp. has reported a significant update to its Ulu Gold Project Mineral Resource Estimate, showing substantial growth in both Measured & Indicated and Inferred gold ounces at high average grades. The estimate was prepared by independent Qualified Persons under NI 43-101 standards, indicating high confidence. The disclosed cut-off grades and positive metallurgical outlook further support the project's potential.

- Positive factor: Contained Metal Growth

- Positive factor: Tonnage Growth

- Positive factor: High Grade

- Positive factor: QP/CP Signed

- Positive factor: NI 43-101 Compliant

- Positive factor: Cut-off Disclosed

Low confidence — this extraction should be reviewed alongside the original source.

Facts used in scoring: 21

## Classification and evidence

**Resource Update**

Polarity: neutral

Definition: Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: The document announces an 'update to the Company's Mineral Resource Estimate'.

Evidence · text

> an update to the Company's Mineral Resource Estimate

**Tonnage Growth**

Polarity: positive

Definition: Significant tonnage increase \(≥15%\) vs prior estimate with grade maintained or improved.

Why it applies: The CEO comments on 'an increase in Inferred ounces' and the overall 'growth potential' of the project.

Evidence · text

> increase in Inferred ounces, further reinforces the Project's potential for continued Mineral Resource expansion.

**Contained Metal Growth**

Polarity: positive

Definition: True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.

Why it applies: The CEO comments on 'an increase in Inferred ounces' and the overall 'growth potential' of the project.

Evidence · text

> increase in Inferred ounces, further reinforces the Project's potential for continued Mineral Resource expansion.

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: The document states that 'David Burga, P. Geo. \(Nunavut \#2272\) from P&E Mining Consultants Inc. ... are independent Qualified Persons'.

Evidence · text

> The independent Qualified Person for the Mineral Resource Estimate, as defined by NI 43-101, is David Burga, P. Geo. \(Nunavut \#2272\) from P&E Mining Consultants Inc.

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: The MRE was prepared 'within the parameters of the NI 43-101 Standards of Disclosure for Mineral Projects'.

Evidence · text

> prepared the updated MRE within the parameters of the NI 43-101 Standards of Disclosure for Mineral Projects.

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: The document explicitly states the cut-off grades used: '0.8 g/t Au for the conceptual open pit and 2.0 g/t Au for the conceptual underground extraction scenarios'.

Evidence · text

> The MRE is reported at a cut off of 0.8 g/t Au for the conceptual open pit and 2.0 g/t Au for the conceptual underground extraction scenarios.

**Measured Resource**

Polarity: positive

Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.

Why it applies: The resource estimate includes a 'Measured' category, which is the highest confidence category.

Evidence · table

> Measured

Context: Flood

**Indicated Resource**

Polarity: positive

Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: The resource estimate includes an 'Indicated' category, which represents reasonable geological confidence.

Evidence · table

> Indicated

Context: Flood

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: The resource estimate includes an 'Inferred' category, which is a speculative category with lower confidence.

Evidence · table

> Inferred

Context: Flood

## Extracted facts

Stored fact records: 21. Some facts used in scoring do not have a stored record.

## Resource Estimates (21)

### measured

[Link to this fact](https://atlas-staging.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--508d1efe-6133-4948-8b0c-d30f9ac0fe77#fact-resource-facts-0)

Ulu Gold Project · gold

#### Identity

- Project: Ulu Gold Project
- Commodity: gold
- Region: canada\_nu
- Reported Region: Nunavut, Canada
- Ticker: BAU

#### Resource Data

- Category: measured
- Tonnes: 441000
- Grade: 8.33
- Grade Unit: g/t
- Contained Metal: 118
- Contained Unit: koz
- Cutoff Grade: 0.8

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-05-21T00:00:00.000Z

Reasoning: High-grade Measured Resource in the Flood Zone, pit-constrained, with a 0.8 g/t Au cut-off, indicating strong confidence and economic potential.

- Positive factor: High Grade

- Positive factor: Measured Resource

- Positive factor: QP/CP Signed

- Positive factor: NI 43-101 Compliant

- Positive factor: Cut-off Disclosed

Evidence · table

> 8.33

Context: 441

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--508d1efe-6133-4948-8b0c-d30f9ac0fe77#fact-resource-facts-1)

Ulu Gold Project · gold

#### Identity

- Project: Ulu Gold Project
- Commodity: gold
- Region: canada\_nu
- Reported Region: Nunavut, Canada
- Ticker: BAU

#### Resource Data

- Category: indicated
- Tonnes: 200000
- Grade: 6.95
- Grade Unit: g/t
- Contained Metal: 45
- Contained Unit: koz
- Cutoff Grade: 0.8

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-05-21T00:00:00.000Z

Reasoning: High-grade Indicated Resource in the Flood Zone, pit-constrained, with a 0.8 g/t Au cut-off, indicating good confidence and economic potential.

- Positive factor: High Grade

- Positive factor: Indicated Resource

- Positive factor: QP/CP Signed

- Positive factor: NI 43-101 Compliant

- Positive factor: Cut-off Disclosed

Evidence · table

> 6.95

Context: 200

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--508d1efe-6133-4948-8b0c-d30f9ac0fe77#fact-resource-facts-2)

Ulu Gold Project · gold

#### Identity

- Project: Ulu Gold Project
- Commodity: gold
- Region: canada\_nu
- Reported Region: Nunavut, Canada
- Ticker: BAU

#### Resource Data

- Category: inferred
- Tonnes: 142000
- Grade: 4.32
- Grade Unit: g/t
- Contained Metal: 20
- Contained Unit: koz
- Cutoff Grade: 0.8

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-05-21T00:00:00.000Z

Reasoning: Strong-grade Inferred Resource in the Flood Zone, pit-constrained, with a 0.8 g/t Au cut-off, indicating future potential but lower confidence.

- Positive factor: High Grade

- Positive factor: QP/CP Signed

- Positive factor: NI 43-101 Compliant

- Positive factor: Cut-off Disclosed

- Negative factor: Inferred Resource

Evidence · table

> 4.32

Context: 142

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--508d1efe-6133-4948-8b0c-d30f9ac0fe77#fact-resource-facts-3)

Ulu Gold Project · gold

#### Identity

- Project: Ulu Gold Project
- Commodity: gold
- Region: canada\_nu
- Reported Region: Nunavut, Canada
- Ticker: BAU

#### Resource Data

- Category: indicated
- Tonnes: 2000
- Grade: 8.04
- Grade Unit: g/t
- Contained Metal: 1
- Contained Unit: koz
- Cutoff Grade: 0.8

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-05-21T00:00:00.000Z

Reasoning: High-grade Indicated Resource in the NTK Zone, pit-constrained, with a 0.8 g/t Au cut-off, contributing to the overall resource.

- Positive factor: High Grade

- Positive factor: Indicated Resource

- Positive factor: QP/CP Signed

- Positive factor: NI 43-101 Compliant

- Positive factor: Cut-off Disclosed

Evidence · table

> 8.04

Context: 2

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--508d1efe-6133-4948-8b0c-d30f9ac0fe77#fact-resource-facts-4)

Ulu Gold Project · gold

#### Identity

- Project: Ulu Gold Project
- Commodity: gold
- Region: canada\_nu
- Reported Region: Nunavut, Canada
- Ticker: BAU

#### Resource Data

- Category: inferred
- Tonnes: 90000
- Grade: 4.07
- Grade Unit: g/t
- Contained Metal: 12
- Contained Unit: koz
- Cutoff Grade: 0.8

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-05-21T00:00:00.000Z

Reasoning: Strong-grade Inferred Resource in the NTK Zone, pit-constrained, with a 0.8 g/t Au cut-off, indicating future potential.

- Positive factor: High Grade

- Positive factor: QP/CP Signed

- Positive factor: NI 43-101 Compliant

- Positive factor: Cut-off Disclosed

- Negative factor: Inferred Resource

Evidence · table

> 4.07

Context: 90

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--508d1efe-6133-4948-8b0c-d30f9ac0fe77#fact-resource-facts-5)

Ulu Gold Project · gold

#### Identity

- Project: Ulu Gold Project
- Commodity: gold
- Region: canada\_nu
- Reported Region: Nunavut, Canada
- Ticker: BAU

#### Resource Data

- Category: indicated
- Tonnes: 25000
- Grade: 14.54
- Grade Unit: g/t
- Contained Metal: 12
- Contained Unit: koz
- Cutoff Grade: 0.8

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-05-21T00:00:00.000Z

Reasoning: Exceptional-grade Indicated Resource in the NFN Zone, pit-constrained, with a 0.8 g/t Au cut-off, showing very high economic potential.

- Positive factor: High Grade

- Positive factor: Indicated Resource

- Positive factor: QP/CP Signed

- Positive factor: NI 43-101 Compliant

- Positive factor: Cut-off Disclosed

Evidence · table

> 14.54

Context: 25

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--508d1efe-6133-4948-8b0c-d30f9ac0fe77#fact-resource-facts-6)

Ulu Gold Project · gold

#### Identity

- Project: Ulu Gold Project
- Commodity: gold
- Region: canada\_nu
- Reported Region: Nunavut, Canada
- Ticker: BAU

#### Resource Data

- Category: inferred
- Tonnes: 46000
- Grade: 11.58
- Grade Unit: g/t
- Contained Metal: 17
- Contained Unit: koz
- Cutoff Grade: 0.8

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-05-21T00:00:00.000Z

Reasoning: Exceptional-grade Inferred Resource in the NFN Zone, pit-constrained, with a 0.8 g/t Au cut-off, indicating strong future potential.

- Positive factor: High Grade

- Positive factor: QP/CP Signed

- Positive factor: NI 43-101 Compliant

- Positive factor: Cut-off Disclosed

- Negative factor: Inferred Resource

Evidence · table

> 11.58

Context: 46

### measured

[Link to this fact](https://atlas-staging.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--508d1efe-6133-4948-8b0c-d30f9ac0fe77#fact-resource-facts-7)

Ulu Gold Project · gold

#### Identity

- Project: Ulu Gold Project
- Commodity: gold
- Region: canada\_nu
- Reported Region: Nunavut, Canada
- Ticker: BAU

#### Resource Data

- Category: measured
- Tonnes: 535000
- Grade: 9.01
- Grade Unit: g/t
- Contained Metal: 155
- Contained Unit: koz
- Cutoff Grade: 2

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-05-21T00:00:00.000Z

Reasoning: Strong-grade Measured Resource in the Flood Zone, underground scenario, with a 2.0 g/t Au cut-off, indicating high confidence for underground extraction.

- Positive factor: High Grade

- Positive factor: Measured Resource

- Positive factor: QP/CP Signed

- Positive factor: NI 43-101 Compliant

- Positive factor: Cut-off Disclosed

Evidence · table

> 9.01

Context: 535

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--508d1efe-6133-4948-8b0c-d30f9ac0fe77#fact-resource-facts-8)

Ulu Gold Project · gold

#### Identity

- Project: Ulu Gold Project
- Commodity: gold
- Region: canada\_nu
- Reported Region: Nunavut, Canada
- Ticker: BAU

#### Resource Data

- Category: indicated
- Tonnes: 919000
- Grade: 7.11
- Grade Unit: g/t
- Contained Metal: 210
- Contained Unit: koz
- Cutoff Grade: 2

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-05-21T00:00:00.000Z

Reasoning: Strong-grade Indicated Resource in the Flood Zone, underground scenario, with a 2.0 g/t Au cut-off, indicating good confidence for underground extraction.

- Positive factor: High Grade

- Positive factor: Indicated Resource

- Positive factor: QP/CP Signed

- Positive factor: NI 43-101 Compliant

- Positive factor: Cut-off Disclosed

Evidence · table

> 7.11

Context: 919

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--508d1efe-6133-4948-8b0c-d30f9ac0fe77#fact-resource-facts-9)

Ulu Gold Project · gold

#### Identity

- Project: Ulu Gold Project
- Commodity: gold
- Region: canada\_nu
- Reported Region: Nunavut, Canada
- Ticker: BAU

#### Resource Data

- Category: inferred
- Tonnes: 2430000
- Grade: 4.41
- Grade Unit: g/t
- Contained Metal: 345
- Contained Unit: koz
- Cutoff Grade: 2

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-05-21T00:00:00.000Z

Reasoning: Moderate-grade Inferred Resource in the Flood Zone, underground scenario, with a 2.0 g/t Au cut-off, indicating future potential but lower confidence.

- Positive factor: High Grade

- Positive factor: QP/CP Signed

- Positive factor: NI 43-101 Compliant

- Positive factor: Cut-off Disclosed

- Negative factor: Inferred Resource

Evidence · table

> 4.41

Context: 2,430

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--508d1efe-6133-4948-8b0c-d30f9ac0fe77#fact-resource-facts-10)

Ulu Gold Project · gold

#### Identity

- Project: Ulu Gold Project
- Commodity: gold
- Region: canada\_nu
- Reported Region: Nunavut, Canada
- Ticker: BAU

#### Resource Data

- Category: indicated
- Tonnes: 27000
- Grade: 5.68
- Grade Unit: g/t
- Contained Metal: 5
- Contained Unit: koz
- Cutoff Grade: 2

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-05-21T00:00:00.000Z

Reasoning: Weak-grade Indicated Resource in the NTK Zone, underground scenario, with a 2.0 g/t Au cut-off, contributing to the overall resource.

- Positive factor: High Grade

- Positive factor: Indicated Resource

- Positive factor: QP/CP Signed

- Positive factor: NI 43-101 Compliant

- Positive factor: Cut-off Disclosed

Evidence · table

> 5.68

Context: 27

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--508d1efe-6133-4948-8b0c-d30f9ac0fe77#fact-resource-facts-11)

Ulu Gold Project · gold

#### Identity

- Project: Ulu Gold Project
- Commodity: gold
- Region: canada\_nu
- Reported Region: Nunavut, Canada
- Ticker: BAU

#### Resource Data

- Category: inferred
- Tonnes: 371000
- Grade: 4.46
- Grade Unit: g/t
- Contained Metal: 53
- Contained Unit: koz
- Cutoff Grade: 2

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-05-21T00:00:00.000Z

Reasoning: Moderate-grade Inferred Resource in the NTK Zone, underground scenario, with a 2.0 g/t Au cut-off, indicating future potential.

- Positive factor: High Grade

- Positive factor: QP/CP Signed

- Positive factor: NI 43-101 Compliant

- Positive factor: Cut-off Disclosed

- Negative factor: Inferred Resource

Evidence · table

> 4.46

Context: 371

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--508d1efe-6133-4948-8b0c-d30f9ac0fe77#fact-resource-facts-12)

Ulu Gold Project · gold

#### Identity

- Project: Ulu Gold Project
- Commodity: gold
- Region: canada\_nu
- Reported Region: Nunavut, Canada
- Ticker: BAU

#### Resource Data

- Category: indicated
- Tonnes: 55000
- Grade: 7.37
- Grade Unit: g/t
- Contained Metal: 13
- Contained Unit: koz
- Cutoff Grade: 2

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-05-21T00:00:00.000Z

Reasoning: Strong-grade Indicated Resource in the NFN Zone, underground scenario, with a 2.0 g/t Au cut-off, showing good economic potential.

- Positive factor: High Grade

- Positive factor: Indicated Resource

- Positive factor: QP/CP Signed

- Positive factor: NI 43-101 Compliant

- Positive factor: Cut-off Disclosed

Evidence · table

> 7.37

Context: 55

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--508d1efe-6133-4948-8b0c-d30f9ac0fe77#fact-resource-facts-13)

Ulu Gold Project · gold

#### Identity

- Project: Ulu Gold Project
- Commodity: gold
- Region: canada\_nu
- Reported Region: Nunavut, Canada
- Ticker: BAU

#### Resource Data

- Category: inferred
- Tonnes: 184000
- Grade: 4.96
- Grade Unit: g/t
- Contained Metal: 29
- Contained Unit: koz
- Cutoff Grade: 2

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-05-21T00:00:00.000Z

Reasoning: Moderate-grade Inferred Resource in the NFN Zone, underground scenario, with a 2.0 g/t Au cut-off, indicating future potential.

- Positive factor: High Grade

- Positive factor: QP/CP Signed

- Positive factor: NI 43-101 Compliant

- Positive factor: Cut-off Disclosed

- Negative factor: Inferred Resource

Evidence · table

> 4.96

Context: 184

### measured

[Link to this fact](https://atlas-staging.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--508d1efe-6133-4948-8b0c-d30f9ac0fe77#fact-resource-facts-14)

Ulu Gold Project · gold

#### Identity

- Project: Ulu Gold Project
- Commodity: gold
- Region: canada\_nu
- Reported Region: Nunavut, Canada
- Ticker: BAU

#### Resource Data

- Category: measured
- Tonnes: 976000
- Grade: 8.7
- Grade Unit: g/t
- Contained Metal: 273
- Contained Unit: koz

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-05-21T00:00:00.000Z

Reasoning: Combined Measured Resource for the Flood Zone, showing strong grades and high confidence for both open pit and underground scenarios.

- Positive factor: High Grade

- Positive factor: Measured Resource

- Positive factor: QP/CP Signed

- Positive factor: NI 43-101 Compliant

Evidence · table

> 8.70

Context: 976

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--508d1efe-6133-4948-8b0c-d30f9ac0fe77#fact-resource-facts-15)

Ulu Gold Project · gold

#### Identity

- Project: Ulu Gold Project
- Commodity: gold
- Region: canada\_nu
- Reported Region: Nunavut, Canada
- Ticker: BAU

#### Resource Data

- Category: indicated
- Tonnes: 1119000
- Grade: 7.09
- Grade Unit: g/t
- Contained Metal: 255
- Contained Unit: koz

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-05-21T00:00:00.000Z

Reasoning: Combined Indicated Resource for the Flood Zone, showing strong grades and good confidence for both open pit and underground scenarios.

- Positive factor: High Grade

- Positive factor: Indicated Resource

- Positive factor: QP/CP Signed

- Positive factor: NI 43-101 Compliant

Evidence · table

> 7.09

Context: 1,119

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--508d1efe-6133-4948-8b0c-d30f9ac0fe77#fact-resource-facts-16)

Ulu Gold Project · gold

#### Identity

- Project: Ulu Gold Project
- Commodity: gold
- Region: canada\_nu
- Reported Region: Nunavut, Canada
- Ticker: BAU

#### Resource Data

- Category: inferred
- Tonnes: 2572000
- Grade: 4.41
- Grade Unit: g/t
- Contained Metal: 365
- Contained Unit: koz

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-05-21T00:00:00.000Z

Reasoning: Combined Inferred Resource for the Flood Zone, showing moderate grades and future potential for both open pit and underground scenarios.

- Positive factor: High Grade

- Positive factor: QP/CP Signed

- Positive factor: NI 43-101 Compliant

- Negative factor: Inferred Resource

Evidence · table

> 4.41

Context: 2,572

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--508d1efe-6133-4948-8b0c-d30f9ac0fe77#fact-resource-facts-17)

Ulu Gold Project · gold

#### Identity

- Project: Ulu Gold Project
- Commodity: gold
- Region: canada\_nu
- Reported Region: Nunavut, Canada
- Ticker: BAU

#### Resource Data

- Category: indicated
- Tonnes: 29000
- Grade: 6.44
- Grade Unit: g/t
- Contained Metal: 6
- Contained Unit: koz

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-05-21T00:00:00.000Z

Reasoning: Combined Indicated Resource for the NTK Zone, showing weak grades and good confidence for both open pit and underground scenarios.

- Positive factor: High Grade

- Positive factor: Indicated Resource

- Positive factor: QP/CP Signed

- Positive factor: NI 43-101 Compliant

Evidence · table

> 6.44

Context: 29

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--508d1efe-6133-4948-8b0c-d30f9ac0fe77#fact-resource-facts-18)

Ulu Gold Project · gold

#### Identity

- Project: Ulu Gold Project
- Commodity: gold
- Region: canada\_nu
- Reported Region: Nunavut, Canada
- Ticker: BAU

#### Resource Data

- Category: inferred
- Tonnes: 461000
- Grade: 4.39
- Grade Unit: g/t
- Contained Metal: 65
- Contained Unit: koz

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-05-21T00:00:00.000Z

Reasoning: Combined Inferred Resource for the NTK Zone, showing moderate grades and future potential for both open pit and underground scenarios.

- Positive factor: High Grade

- Positive factor: QP/CP Signed

- Positive factor: NI 43-101 Compliant

- Negative factor: Inferred Resource

Evidence · table

> 4.39

Context: 461

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--508d1efe-6133-4948-8b0c-d30f9ac0fe77#fact-resource-facts-19)

Ulu Gold Project · gold

#### Identity

- Project: Ulu Gold Project
- Commodity: gold
- Region: canada\_nu
- Reported Region: Nunavut, Canada
- Ticker: BAU

#### Resource Data

- Category: indicated
- Tonnes: 80000
- Grade: 9.72
- Grade Unit: g/t
- Contained Metal: 25
- Contained Unit: koz

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-05-21T00:00:00.000Z

Reasoning: Combined Indicated Resource for the NFN Zone, showing strong grades and good confidence for both open pit and underground scenarios.

- Positive factor: High Grade

- Positive factor: Indicated Resource

- Positive factor: QP/CP Signed

- Positive factor: NI 43-101 Compliant

Evidence · table

> 9.72

Context: 80

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--508d1efe-6133-4948-8b0c-d30f9ac0fe77#fact-resource-facts-20)

Ulu Gold Project · gold

#### Identity

- Project: Ulu Gold Project
- Commodity: gold
- Region: canada\_nu
- Reported Region: Nunavut, Canada
- Ticker: BAU

#### Resource Data

- Category: inferred
- Tonnes: 230000
- Grade: 6.22
- Grade Unit: g/t
- Contained Metal: 46
- Contained Unit: koz

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-05-21T00:00:00.000Z

Reasoning: Combined Inferred Resource for the NFN Zone, showing weak grades and future potential for both open pit and underground scenarios.

- Positive factor: High Grade

- Positive factor: QP/CP Signed

- Positive factor: NI 43-101 Compliant

- Negative factor: Inferred Resource

Evidence · table

> 6.22

Context: 230

## How Atlas produces this analysis

Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.