Bluestone Resources announces new President and CEO; equipment purchase from Goldcorp

by Keith Powell
Graphic of Bluestone Resources Inc.

— Photo courtesy Bluestone Resources Inc.

Vancouver, British Columbia (TSX-V: BSR) Bluestone Resources Inc. (“Bluestone” or the “Company”) is pleased to announce the commencement of Mr. Darren Klinck’s tenure as President and CEO, effective August 1, 2017.

“On behalf of Bluestone and our shareholders, I would like to welcome Mr. Klinck as our incoming President and CEO. This marks another important milestone as we continue to build out our development team that will be focused on working with our local stakeholders and government partners in Guatemala to advance these projects over the coming years,” said John Robins, Executive Chairman and outgoing CEO.

Mr. Klinck was most recently Executive Vice President & Head of Corporate Development for OceanaGold Corporation responsible for overseeing the capital markets as well as the mergers and acquisitions strategy. Over the past ten years at OceanaGold, Mr. Klinck’s various responsibilities have also included oversight of project teams managing exploration, corporate social responsibility (CSR) and community engagement programs as well as extensive government relations activities.

In addition, Bluestone Resources Inc. is pleased to announce that consistent with the terms of the transaction agreement with Goldcorp Inc. ("Goldcorp") to acquire the Cerro Blanco gold and Mita geothermal projects which closed May 31, 2017, Bluestone has selected and begun to receive US$2.43 million of mining and auxiliary equipment used in the operation of Goldcorp's Marlin mine in Guatemala ("the Marlin Equipment"). A US$2 million non-refundable deposit for the Marlin Equipment was included as part of the transaction consideration. The Marlin mine was operational until earlier this year when it commenced moving into closure.

Bluestone's President & CEO Darren Klinck commented, "The acquisition of the Marlin Equipment is an important step as we advance our site works and begin to firm up exploration and development planning for the Cerro Blanco and Mita projects. We are fortunate to have been able to secure this used Marlin Equipment at a fraction of the price that it would otherwise be available to us.”

Some of the Marlin Equipment acquired includes:

  • 12 MW Diesel Generators (8-1.5 MW units) sufficient for all site backup power requirements
  • Underground diamond drills
  • Assay Lab
  • Two Scoop trams
  • Two Jumbos
  • Bolter
  • 60 and 100 tonne mobile cranes
  • Two Underground haul trucks
  • Loader, dozer and backhoe
  • 2 mine refuge stations and mine rescue equipment
  • Other miscellaneous equipment and supplies

The Marlin Equipment has started to arrive at site and is being evaluated for maintenance requirements before being put into service.

About Bluestone Resources Inc.

Bluestone is a well-funded development resource company that owns a 100% interest in the Mita Geothermal and Cerro Blanco Gold Projects located 160 km southeast of Guatemala City in Guatemala. Bluestone Resources Inc trades on the Toronto Venture Exchange under the ticker “BSR.”

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