VANCOUVER, BC / ACCESSWIRE / December 12, 2019 / Blue Moon Zinc Corp. (TSX.V:MOON)(OTC PINK:BMOOF) ("Blue Moon" or the "Company") is pleased to announce that its exploration partner, Platina Resources Limited ("Platina"), reports drilling at the Blue Moon Project intersected visible massive and semi-massive sulphide mineralisation in the first drill hole of this year's program at the Blue Moon zinc-copper-gold project in California. The current drilling program is designed to determine the extent of the high-grade mineralisation cut in hole BMZ78 in 2018.
Hole BMZ79 intersected 40 metres of mineralisation from 410 metres (core length not true thickness). The intercept in BMZ79 is located approximately 30 metres from the mineralized intercept in BMZ78 (press release January 18, 2019). The location of the BMZ79 and photographs of the mineralization in the hole are shown in Figures 1 to 4. Hole BMZ80, the second hole in the program, is currently underway.
Platina is currently paying 100% of the drill program costs and can earn an initial 50% interest in the Blue Moon project by incurring $3 million including the drilling of a minimum 10,000 metres and payment to the Company of $250,000. Platina can increase its interests to 70% by incurring an additional $3.75 million including the completion of a pre-feasibility study and payment to the Company of $500,000.
DRILL HOLE COLLAR LOCATION MAP
Figure 1: Plan view showing Platina's phase 1 drill hole completed (BMZ79) and ongoing (BMZ80) both placed in the same pad as BMZ78, drilled by Blue Moon Zinc in 2018. The figure includes surface projection of the mineralised interval intercepted by BMZ79 (assay pending) and an approximate surface projection of the main VMS mineralised zone.
Figure 2: Cross section looking north (70 metre envelope) showing collar location, path and position of the mineralised zone intercepted by BMZ79 with respect to previous hole BMZ78 (drilled in same pad by Blue Moon Zinc in 2018) and historical drill holes with zinc equivalent mineralised zones.
Figure 3: Massive sulphide mineralised interception at hole BMZ79 from 417.3 metres to 420.28 metres downhole depth. Sulphide mineralisation both follows cross-cut primary foliation in the hosting rhyolite rock. Sphalerite is pale brown; chalcopyrite bright yellow. Pyrite completes the visible sulphide assemblage.
Figure 4: Closer view of Massive sulphide mineralised interception at hole BMZ79 at 456 metres downhole depth. Sulphide mineralisation both follows cross-cut primary foliation in the hosting rhyolite rock. Sphalerite is pale brown; chalcopyrite bright yellow. Pyrite completes the visible sulphide assemblage.
Details of the first two holes are outlined in Table 1.
Table 1 - Drill hole collar location and intercept information (downhole Intersections in metres)
About Blue Moon
Blue Moon (TSX.V: MOON) (OTC PINK:BMOOF) is currently advancing its Blue Moon polymetallic deposit which contains zinc, gold, copper and silver in partnership with Platina Resources Limited. The deposit is open at depth and along strike. The Blue Moon 43-101 Mineral Resource includes 7.8 million inferred tons at 8.07% zinc equivalent, which includes 771 million pounds of 4.95% zinc, 300,000 ounces of gold at 0.04 oz/t, 71 million pounds of 0.46% copper, and 10 million ounces of silver at 1.33 oz/t. The 43-101 was filed on www.sedar.com on November 20, 2018. The Company also holds 100% of the Yava polymetallic project in Nunavut that is on strike to Glencore's Hackett River deposit. More information is available on the company's web site (www.bluemoonmining.com).
John McClintock, P. Eng, a Director of the Company, is a qualified person as defined by NI 43-101, has reviewed the scientific and technical information that forms the basis for this press release.
For more information please contact:
Patrick McGrath, CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Resource estimates included in this news release are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions set forth in the relevant technical report and otherwise, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices for zinc, the results of future exploration, uncertainties related to the ability to obtain necessary permits, licenses and titles, changes in government policies regarding mining, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date it is expressed in this press release, and the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.
The securities referenced in this news release have not and will not be registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
SOURCE: Blue Moon Resources
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