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Blue Moon’s Recent Drill Program Intersects over 11.5 Meters of Massive Sulphides at its Blue Moon Zinc Deposit with Assays Pending

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Blue Moon’s Recent Drill Program Intersects over 11.5 Meters of Massive Sulphides at its Blue Moon Zinc Deposit with Assays Pending

 

 

 

 

 

Blue Moon Zinc Corp. (TSX-V: MOON) (US: BMOOF) is pleased to announce that its recently completed drill program intersected multiple massive sulphides at its 100% controlled Blue Moon Zinc deposit.

 

Hole No. BMZ78 intersected over 11.5 meters (~38 feet) of massive sulphides. True width of the zone is estimated to be 55-65% of drilled width, and assaying results are pending and expected in January 2019. Historically the deposit was mined by Hecla Mining Company with an average grade of 12.3% zinc during the second world war. Blue Moon recently updated its 43-101 Mineral Resource(*) to 7.8 million inferred tons at 8.07% zinc equivalence, which includes 771 million pounds of 4.95% zinc, 71 million pounds of 0.46% copper, 300,000 ounces of gold at 0.04 oz/t, and 10 million ounces of silver at 1.33 oz/t(*please refer to press release dated November 20, 2018 for full details). 

 

Patrick McGrath, Blue Moon CEO, commented, “Receiving the key multi-year drill permit earlier in 2018 is a project milestone and we recently completed our first phase of drilling on the Blue Moon deposit, which included very encouraging massive sulphide mineralization over a large width. The Company continues to take the steps to further advance the high-grade zinc deposit and looks forward to receiving the final assays for the 2018 drilling program and planning our follow-on drilling program to continue to expand and explore the current Blue Moon deposit.”

 

Zinc Equivalents (ZnEq)

 

The Mineral Resource has been stated in terms of ZnEq. The ZnEq formula and the underlying parameters used in its formulation are set out below.

 

 

Metal Price (US$) Recovery (%) Factor
Zinc 1.30/lb 95 24.70
Silver 17.00/oz 65 11.05
Copper 3.00/lb 93 55.80
Gold 1,250.00/oz 70 875.00
Lead 1.00/lb 95 19.00

 

 

The metal prices and the recoveries selected represent reasonable estimates of long term metal prices and potential recoveries of metal in concentrate. The Mineral Resource estimate is summarized above at a range of ZnEq cut-off grades. The equation to calculate ZnEq is as follows:

 

ZnEq = (Zn%*24.70 + Cu % * 55.80 + Pb% * 19.00 + Ag(oz/t) * 11.05 + Au(oz/t) * 875.00) / 24.70

 

About Blue Moon

 

Blue Moon is currently advancing its 100%-controlled Blue Moon zinc deposit which also contains copper, silver and gold. The deposit is open at depth and along strike. The Company plans to advance the Blue Moon Project through to feasibility, permitting and ultimately production.

 

Qualified Persons

 

Peter A. Herrera, P. Geo, is a qualified person as defined by NI-43-101, and has reviewed the scientific and technical information that forms the basis for this news release.

 

Posted December 6, 2018

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