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Blue Moon Metals Announces Updated 43-101 Mineral Resource; Approximate 22% increase in zinc grade and upgrade of 48% of the Mineral Resource to Indicated Category
VANCOUVER, British Columbia, Nov. 28, 2023 (GLOBE NEWSWIRE) -- Blue Moon Metals Inc. (TSXV: MOON; OTCQB: BMOOF) (the “Company”) announces the results of its upd
About this update from Blue Moon Metals Inc
[{"type":"text","content":" VANCOUVER, British Columbia, Nov. 28, 2023 (GLOBE NEWSWIRE) -- Blue Moon Metals Inc. (TSXV: MOON; OTCQB: BMOOF) (the “Company”) announces the results of its updated Mineral Resource estimate for its 100% owned Blue Moon Project located in the United States. The Mineral Resource was updated to incorporate drilling results from the last three drill programs. The Blue Moon project is a high-quality polymetallic deposit with excellent exploration and expansion opportunities. Highlights of the updated Mineral Resource estimate include: Increase in confidence in the geological model with the upgrade of approximately 48% of the resource to the indicated Mineral Resource category. The zinc grade of the Mineral Resource estimate has increased by approximately 22% and the zinc equivalent grade has increased by approximately 35%, respectively, as compared to the prior Mineral Resource estimate issued in 2018. The increase in grades and contained metals sets the stage for a Preliminary Economic Assessment (“PEA”) to better understand the economic viability of the project and determine the next steps in advancing the Blue Moon project. Patrick McGrath, Chief Executive Officer, stated, “The Company is pleased to announce a material increase in the grade and confidence of the Mineral Resource, including nearly half the Mineral Resource now in the Indicated category. The updated Mineral Resource estimate provides us with a solid foundation to review the next stage of work including a PEA for the project. In addition, we continue to have significant expansion and exploration opportunities at our Blue Moon Project. The project enjoys the benefits of being located in the United States with the primary metal, zinc, being designated as a critical metal per the United States Geological Society.” Mineral Resource Statement effective October 27, 2023 Cutoff Grade > Cutoff Contained Metal (Millions) ZnEq Tons Zn Cu Ag Au Pb ZnEq lbs lbs lbs ozs ozs Category % (Mt) % % oz/t oz/t % % Zn Cu Pb Ag Au Indicated 4 3.5 6.14 0.75 1.54 0.05 0.24 11.07 431 53 17 5 0.2 Inferred 4 3.8 5.94 0.59 1.56 0.05 0.34 10.71 455 45 26 6 0.2 Notes: (1) Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the Mineral Resources will be converted to Mineral Reserv...