Bluestone Resources was created in 2017 with the purchase of the Cerro Blanco gold & Mita Geothermal projects. Bluestone Resources is a single asset junior Gold developer with their flagship project Cerro Blanco in Southern Guatemala. They are a Canadian listed company with their focus on Cerro Blanco, a near-surface high-grade Gold deposit.

Bluestone is currently advancing with permitting and feasibility studies to bring this Cerro Blanco project forward into the construction phase next year with the goal of achieving first Gold in 2024.

Bluestone has the permitting process under control which is advancing on-track and on-budget. The company has been busy gathering the data for the required environmental and social studies and are working closely with the Ministry of the Environment to work through the application process. They do not see the permitting application as a major hurdle and aim for completion next year.

The Cerro Blanco project is a near surface high grade gold deposit, with a total of 3.0 Moz (M&I). A PEA illustrated an asset capable of +300 koz/yr at first quartile cash costs over an initial 11 year mine life. 

The mine will be an open pit project and there will be a resource update out within the next month leading into the optimised mine plan. Once there is an optimised mine plan the company will continue with detailed engineering derisking which will feed into the feasibility study. 

Permit applications will be submitted by the end of 2021. Bluestone Resources aims to get the project finance package in place next year and once that is complete and they are in receipt of the environmental license, they will continue to advance the project with the construction phase during 2023 leading to first production in 2024.