Bluestone Resources was created in 2017 with the purchase of the Cerro Blanco gold & Mita Geothermal projects. The Cerro Blanco gold project is a permitted, high-grade underground gold project located in southeastern Guatemala. 

Previous owners invested approximately US$230 million into the project (US$60 million of which went into the Mita Geothermal project). Existing infrastructure includes portals, declines, and multiple Alimak vent rasies. Three kilometers of underground development has been completed including limited trial mining. Select mining equipment was acquired from the Marlin mine within the country as part of the acquisition. This includes a 12 MW CAT diesel generator set, scoop trams, jumbos, bolters and underground drills, an assay lab, and other various mobile equipment. The Mita Geothermal project is an advanced-stage, renewable energy project licensed to produce up to 50 megawatts of power.