# Ulu gold resource tops 1 million ounces Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/ulu-gold-resource-tops-1-million-ounces--4a801961-b418-4525-949a-ffd70767fcb6 Original source: https://www.miningnewsnorth.com/story/2026/05/22/northern-neighbors/ulu-gold-resource-tops-1-million-ounces/9688.html Publisher: miningnewsnorth Original announcement: 2026-05-22T00:00:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-09-19T10:19:49.246Z Atlas analysis updated: 2026-09-19T10:19:49.246Z - Company: Blue Star Gold Corp. - Ticker: Unavailable - Exchange: Unavailable - Region: Nunavut - Primary commodity: Gold - Secondary commodities: None reported - Document categories: Resource update - Extracted: 2026-09-19 10:19:49 UTC Narrative sentiment: 0.80 · Bullish ## Minestarters Atlas summary Blue Star Gold Corp. has announced an updated mineral resource estimate for the Ulu gold project in Nunavut, totaling over 1 million ounces of gold. The resource includes 558,000 oz of measured and indicated gold at 7.87 g/t, plus 476,000 oz of inferred gold at 4.54 g/t. Reasoning: The update reports a substantial gold resource with a strong high-grade M&I core and significant inferred expansion potential. - Positive factor: Significant gold resource exceeding 1 million ounces - Positive factor: Strong M&I component \(558,000 oz\) - Positive factor: High average grades for M&I \(7.87 g/t\) - Positive factor: High projected metallurgical recoveries \(>90%\) Facts used in scoring: 2 ## Classification and evidence **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 includes a significant indicated component within the 2.2 Mt M&I total. Evidence · text > 2.2 million metric tons of measured and indicated resources **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: A large portion of the resource \(3.263 Mt\) is classified as inferred. Evidence · text > 3.263 million metric tons of inferred resources **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 release explicitly states cut-off grades for both open-pit \(0.8 g/t\) and underground \(2 g/t\) scenarios. Evidence · text > Using a 0.8 g/t gold cut-off for the conceptual open-pit resource and a 2 g/t cut-off for the conceptual underground resource ## Extracted facts Stored fact records: 2. Some facts used in scoring do not have a stored record. ## Resource Estimates (2) ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/ulu-gold-resource-tops-1-million-ounces--4a801961-b418-4525-949a-ffd70767fcb6#fact-resource-facts-0) Ulu gold project · gold #### Identity - Project: Ulu gold project - Commodity: gold - Region: canada\_nu - Reported Region: Nunavut #### Resource scope - Estimate type: resource - Resource group id: resource:441d2efc43f9439e5762 - Deposit or zone: Flood and Nutaaq zones - Mining method: combined - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 2200000 - Grade: 7.87 - Grade Unit: g/t - Contained Metal: 558000 - Contained Unit: oz - Cutoff Grade: 0.8 - Cutoff Unit: g/t gold #### Prior Estimate - Resource Date: 2026-05-21 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-05-22T00:00:00.000Z Reasoning: Strong high-grade M&I component. - Positive factor: High grade of 7.87 g/t - Positive factor: Significant contained metal Evidence · text > Flood and Nutaaq zones at Ulu host a combined 2.2 million metric tons of measured and indicated resources averaging 7.87 g/t \(558,000 oz\) gold #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/ulu-gold-resource-tops-1-million-ounces--4a801961-b418-4525-949a-ffd70767fcb6#fact-resource-facts-1) Ulu gold project · gold #### Identity - Project: Ulu gold project - Commodity: gold - Region: canada\_nu - Reported Region: Nunavut #### Resource scope - Estimate type: resource - Resource group id: resource:42716880650fab4ee5a1 - Deposit or zone: Flood and Nutaaq zones - Mining method: combined - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 3263000 - Grade: 4.54 - Grade Unit: g/t - Contained Metal: 476000 - Contained Unit: oz - Cutoff Grade: 2 - Cutoff Unit: g/t gold #### Prior Estimate - Resource Date: 2026-05-21 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-05-22T00:00:00.000Z Reasoning: Large inferred resource providing significant upside potential. - Positive factor: Significant inferred tonnage and ounces Evidence · text > 3.263 million metric tons of inferred resources averaging 4.54 g/t \(476,000 oz\) gold #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ## 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.