The company has bid $200,000 for the projects at the public auction in Delaware. The projects were part of Tri-Valley Corporation and Select Resources Corporation’s assets that were auctioned.
Shorty Creek gold deposit project, composed of about 15,500 hectares of mineral, is located 125km northwest of Fairbanks, Alaska.
The Richardson Project has the potential to host a high-grade gold deposit and is composed of about 13,690 hectares of mineral claims. It is located approximately 70km south of Fairbanks.
Bluestone Resources president and CEO Bruce Counts said that the acquisition of the projects will add a value to the company, which can establish its presence in Alaska.
" The presence of gold has been established on both projects by historical work; they are accessible by paved highway and are located near infrastructure," added Counts.
The sale of the assets to Bluestone has been approved by the US Bankruptcy Court for the District of Delaware, and will be closed on November 1.
