Blue Star Gold

What Blue Star Gold does

Blue Star Gold Corp. (TSXV: BAU) is a publicly listed junior mineral exploration and development company focused on gold and critical mineral properties in Nunavut, Canada. Originally incorporated as WPC Resources Inc. and rebranded in January 2019, the company controls over 420 square kilometres of prospective and underexplored ground in the High Lake Greenstone Belt, comprising the Ulu Gold Project (Ulu Mining Lease and Hood River Property), the Auma Project, and the Roma Project. The Ulu Mining Lease hosts the high-grade Flood Zone Gold Deposit, supported by an updated Mineral Resource Estimate of 558,000 ounces Measured & Indicated (2.204M tonnes at 7.87 g/t Au) plus 476,000 ounces Inferred (3.263M tonnes at 4.54 g/t Au), built on a historical drilling database of 574 diamond drill holes totaling 123,004 metres.

The company's underlying exploration technology stack combines ground-based fixed-loop electromagnetic surveys, geophysical (Loupe) surveys, geological mapping, channel sampling, and diamond core drilling. Domain expertise includes structural targeting of dilation zones within folded gabbro sills along the Ulu Fold, definition of high-grade targets such as the Bamako Zone (400+ metre strike length with grab samples exceeding 20 g/t gold), and identification of VMS-style critical mineral potential at the Roma Project based on acquired historical datasets. Metallurgical studies have demonstrated gold recoveries exceeding 90%. A 2026 Phase 2 exploration program includes 80 line-kilometres of EM surveying and an 8,000-metre drill program targeting the Auma Gold Project and North Nutaaq.

Blue Star Gold is pre-revenue and does not generate operating cash flow; capital is raised through equity financings (private placements, flow-through share offerings) and debt instruments (notably a $2.5M loan from principal insider Dr. Georg Pollert at 3% interest over three years). In 2025–2026 alone, the company raised approximately CAD $12.6M across multiple flow-through tranches and a loan facility. The company is not a commercial product business — its "customers" are retail and institutional investors, and its commercial function is to advance resource definition toward a future mining decision. The projects are strategically located 40–100 km south of the proposed Grays Bay deep-water port, with the Grays Bay Road and Port Project referred to Prime Minister Carney's Major Projects Office for expedited development, materially de-risking future infrastructure access.

Name

Blue Star Gold

Legal name

Blue Star Gold Corp.

Website

https://bluestargold.ca

Company type

Public

Founded year

2019

Operating status

Operating

Headcount range

1–10 employees

Short description

Blue Star Gold Corp. is a pre-revenue Canadian junior mineral exploration company focused on gold and critical mineral properties in Nunavut's High Lake Greenstone Belt, advancing the Ulu, Auma, and Roma projects through phased drilling toward resource expansion.

Ownership category

akta.pro rank

Product category

Gold Mineral Exploration

NAICS

Gold Ore and Silver Ore Mining (212220), Metal Ore Mining (2122)

SIC

Gold And Silver Ores (1040), Metal Mining (1000)

akta.pro primary industry

Gold Mining (IMAKAEAA)

akta.pro secondary industries

Exploration & Resource Development (Critical Minerals) (IMAKAFAL), Silver Mining (IMAKAEAB)

Keywords

• Gold exploration
• Mineral exploration
• Critical minerals
• Diamond drilling
• Gold mining

Headquarters

HQ city

Vancouver

HQ country

Canada

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Technology or R&D, Others

Revenue model

1. Mineral Exploration & Development: Blue Star Gold is a pre-revenue mineral exploration and development company. The company does not currently generate revenue from operations. Funding for exploration activities is raised through equity financings including private placements, flow-through share offerings, and debt instruments.

Go-to-market motion2 records

Distribution channels1 record

Marketing channels5 records

Core offering

Blue Star Gold Corp. is a mineral exploration and development company that acquires, explores, and advances gold and critical mineral properties in Nunavut, Canada. The company controls over 420 square kilometres of prospective mineral claims in the High Lake Greenstone Belt, with principal assets including the Ulu Gold Project (hosting the high-grade Flood Zone Gold Deposit and the Hood River Property), the Auma Gold Project, and the Roma Project. Activities consist of diamond drilling, ground-based electromagnetic surveys, geological mapping, channel sampling, geochemical studies, and metallurgical testing to expand Mineral Resources and advance projects toward potential development.

Product overview

Blue Star Gold Corp. is a mineral exploration and development company focused on gold and critical mineral projects in Nunavut, Canada. The company operates a portfolio of exploration properties rather than a traditional product platform. Its principal assets include the Ulu Gold Project (comprising the Ulu Mining Lease hosting the high-grade Flood Zone Gold Deposit and the Hood River Property), the Auma Gold Project, and the Roma Project. The company controls over 420 square kilometres of highly prospective mineral properties in the High Lake Greenstone Belt. Blue Star's business model revolves around exploration programs, drilling operations, and resource expansion rather than commercial product offerings. The company conducts phase-based exploration drilling, geological surveys, and metallurgical studies to advance its mineral projects toward potential resource development.

Differentiator

Problem solved

Functional benefit

Products and services

• Ulu Gold Project A gold exploration and development project in Nunavut, Canada, comprising the Ulu Mining Lease (hosting the high-grade Flood Zone Gold Deposit) and the Hood River Property. Updated Mineral Resource Estimate (May 2026) reports 558,000 oz Measured and Indicated and 476,000 oz Inferred gold resources, based on 574 diamond drill holes totalling 123,004 metres. The project is the company's flagship asset.
• Auma Gold Project A gold and critical mineral exploration project within the High Lake Volcanic Belt, Nunavut. Includes the Bamako Zone (over 400 metres strike length with grab samples exceeding 20 g/t gold and visible gold) and Auma Zone 1 (historical intercept 15.3 g/t Au over 2.6 metres). Phase 2 drilling of approximately 2,000 metres commenced in June 2026.
• Roma Project A critical mineral (copper-rich VMS) and gold exploration project in the High Lake Greenstone Belt, Nunavut. The Sand Lake prospect within Roma hosts historical copper-rich VMS mineralization intersected in 29 historical drill holes. Property expansion supports Blue Star's critical minerals exploration pipeline.

Quantifiable outcome

• Ulu Gold Project: Measured and Indicated Resource of 558,000 oz Au (2.204M tonnes at 7.87 g/t Au) plus Inferred Resource of 476,000 oz Au (3.263M tonnes at 4.54 g/t Au)
• +3 more outcomes

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Four partnerships are on record, tiered core and minor.

• West Kitikmeot Resources Corp. (WKR)coreStrategic or Co-development Partner · 24 June 2026West Kitikmeot Resources Corp is developing the Grays Bay Road and Port Project. WKR's largest shareholder is an affiliate of the Kitikmeot Inuit Association. Blue Star's projects are strategically located 40-100 km south of the proposed Grays Bay deep-water port, with the planned all-weather Grays Bay Road corridor passing near the Company's Projects. The Grays Bay Road and Port Project was referred to Prime Minister Carney's Major Projects Office for expedited development.
• Darren Lindsay, P. Geo.coreOthers · 23 June 2026Darren Lindsay serves as Vice President Exploration and is a Qualified Person under NI 43-101, providing technical oversight and leadership for Blue Star's exploration programs across Nunavut properties.
• P&E Mining Consultants Inc.minorStrategic or Co-development Partner · 22 June 2026P&E Mining Consultants Inc. prepared the updated Mineral Resource Estimate for the Ulu Gold Project announced May 2026, reporting 558,000 oz M&I and 476,000 oz Inferred gold resources.
• Mandalay Resources CorporationcoreStrategic or Co-development Partner · 29 July 2019Acquired 100% interest in the Ulu Gold Property from Mandalay Resources Corporation. The Ulu Mining Lease hosts the high-grade Flood Zone Gold Deposit. Transaction included assumption of environmental liabilities, payment of $450,000 in cash, and third-party payment of $200,000 for shares held by Mandalay. Remediation security of approximately $1.68 million assigned.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Aston Bay Holdings: Junior mineral exploration company with projects in Nunavut, Canada, including gold and base-metal targets in the High Lake region. Directly comparable in jurisdiction, stage, and commodity focus.
• Sabre Gold Mines: Junior gold-focused exploration and development company with high-grade gold assets. Comparable as a small-cap, single-commodity precious-metals explorer seeking resource growth and development financing.
• Fury Gold Mines: Canadian gold exploration company with a portfolio of Canadian gold projects. Comparable as a junior explorer pursuing resource expansion and supported by an experienced technical team.
• Sitka Gold: Junior gold explorer focused on high-grade intrusion-related gold systems in Canada. Comparable in commodity, scale, and growth-via-drilling business model.
• New Found Gold: Junior gold explorer focused on high-grade gold discoveries in Newfoundland and Labrador, Canada. Comparable as a high-grade, drill-driven junior with no operating cash flow.
• Trillium Gold Mines: Canadian junior gold exploration company with a focus on high-grade gold assets. Comparable in commodity focus, market cap, and stage of resource definition.

Broad incumbents

• Agnico Eagle Mines: Senior gold producer operating the Meadowbank and Amaruq mines in Nunavut's Kitikmeot region — the same belt where Blue Star operates. Comparable jurisdiction, geology, and infrastructure corridor.
• GoldMining Inc. Larger gold-focused resource company holding a portfolio of gold projects across the Americas. Comparable as a publicly listed, project-stage gold company but at substantially greater scale.

Emerging players

• ValOre Metals: Canadian junior focused on gold and critical mineral (PGE) exploration. Comparable as a small-cap explorer pursuing gold and critical mineral targets in Canada, with overlap on critical-mineral positioning.

Regional players

• West Kitikmeot Resources Corp. Developer of the Grays Bay Road and Port Project, whose largest shareholder is an affiliate of the Kitikmeot Inuit Association. Directly comparable as a counterparty in the same infrastructure corridor that underpins Blue Star's project economics.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries1 record

Funding overview

Funding rounds6 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Blue Star Gold