Blue Lagoon Resources
Primary tickers: CSE:BLLG, OCTQB:BLAGF, FSE:7BL
Stage of development: Exploration, Development, Production
Primary mineral: Gold and Silver
Project to promote: Dome Mountain Gold Project
Project location: Canada
Website: https://bluelagoonresources.com/
Corporate presentation: Click here
With the granting of a full mining permit in February 2025 – one of only nine such permits issued in British Columbia since 2015 – Blue Lagoon Resources has achieved a critical milestone and is now focused on the final preparatory activities to safely and securely open the Dome Mountain Gold Mine. Targeting Q3 2025 as the start of gold production, the company is poised to transition to a cash-flowing mining operation.
Our primary objective has always been to become a self-sustaining mining company, leveraging the cash flow generated from Dome Mountain to fuel ongoing exploration and development. The project’s all-year road accessibility, located just a 50-minute drive from Smithers, B.C., further supports our commitment to efficient and consistent operations.
In addition to commencing mining operations in summer 2025, Blue Lagoon plans to use its cash flow to aggressively explore and advance the other 15 known high-grade gold veins (9 g/t) on the property. To date, our exploration efforts have focused on just 10% of the 22,000-hectare property, leaving a vast 90% still unexplored. Our goal is to unlock the full potential of this highly prospective ground by targeting new discoveries identified during our extensive 50,000-meter drill programs conducted from 2021 to 2023.
Cash: CAD2.4M
Debt: /
Major shareholders:
Phoenix Gold Fund 6%
Nicola Mining 6%
Fouders and initial shareholders 14%
Rana Vig (CEO) 3.5%
Management ownership 4.50%
Financials
Management Profile
Rana Vig – President & CEO
Rana Vig has over 35 years of business experience during which time he has helped to launch five business ventures in private industry. He has been involved in publicly traded companies since 2010, and from 2011 to 2016 he was the President of Musgrove Minerals, an Idaho focused gold and copper mining exploration company, and from 2013 to 2016, he was the Chairman and CEO of Continental Precious Minerals Inc., a TSX senior board listed mining exploration company with a focus on advancing one of the largest uranium deposits in the world located in Sweden.
A true entrepreneur with the ability to spot a trend, in 2018 he became the CEO of Lead Ventures and led its re-structuring by acquiring Curaleaf Holdings Inc. (CURA) which raised $520 million, making it the largest Canadian cannabis financing in history.
Shortly after that he took the helm of Rockbridge Resources, a failed Oil and Gas venture, which he re-structured by acquiring Harvest Health & Recreation (HARV) that closed a $300 million financing – making it the third largest cannabis financing of 2018.
Believing that the mining industry, and gold in particular, was about to enter into the next commodities super cycle, he turned his attention to his latest venture, Blue Lagoon Resources, a gold focused company that recently became one of only nine (9) exploration companies in British Columbia to receive a mining permit in the last 10 years.
In November 2017, he was invited to the Canadian Senate to receive the Senate 150th Anniversary Medal – medals which were awarded to Canadians actively involved in their communities who, through generosity, dedication and hard work, make their hometowns and communities, a better place to live.
What is your rationale for taking part in 121 Mining Investment?
Market support
What recent news would you like to highlight to investors attending?
Feb 6, 2025
Blue Lagoon Receives Final Mine Permits
For Its Dome Mountain Gold Project In British Columbia
Feb 19, 2025
Blue Lagoon Resources Forms
Mining Committee to Oversee Transition to Production
March 24, 2025
Blue Lagoon Resources Strengthens
Mining Committee
March 31, 2025
Blue Lagoon Continues To Strengthen Treasury To Fund
Final Preparations Of Mine Site And Initial Working Capital
To Fund Commencement Of Production
What are your key goals in 3 months, 6 months, 12 months?
3 Months:
Finish water treatment plant (May 2025) and commence production
6 Months:
Establish a safe and smooth mining operation
12 Months:
Increase production and begin in-fill drilling to increase the known resource and commence aggressive exploration program to follow up on compelling targets identified during 2020 to 2023 50,000 meter drilling programs
What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?
Mining is tough business. We are mitigating this risk by ensuring we have experienced staff, consultants and advisors who have a successful track record of running mining operations
What do you think makes your company such a compelling investment?
Being fully permitted and about to go in to production this summer. Generating immediate cash flow and not having to rely on the markets to continually raise money
What are the top 3 key investor takeaways?
1) High-Grade Gold, Fully Permitted and Near-Term Cash Flow: Dome Mountain is a fully permitted, all year-round, road-accessible precious metals project — one of only nine mining permits granted in British Columbia since 2015 — with a high-grade gold resource averaging 9 grams per tonne. Fully funded to production, with mining scheduled to commence in July/August 2025 and first cash flow expected to start in September 2025.
2) Operational Readiness, De-Risked and Capital Efficient: Toll Milling Agreement secured with Nicola Mining — eliminating the need for millions in mill construction and environmental permitting. Nicola’s confidence in the project is further evidenced by their $1 million strategic investment, making them a 6% shareholder in Blue Lagoon.
3) Blue Sky Potential: 50,000m drilled since 2020 indicates a clear path to 1M+ high-grade ounces (9 g/t +) on the one main vein where mining will commence this summer 2025, plus numerous additional high value targets identified in addition to the other 15 high-grade known veins across our 22,000-hectare property.