RE:MOON News!!!!!! Blue Moon partner drills 7.47 m of 28.46% ZnEq at Blue
2020-01-24 07:34 ET - News Release
Mr. Patrick McGrath reports
BLUE MOON DRILLING INTERSECTS SIGNIFICANT ZINC MINERALIZATION
Blue Moon Zinc Corp.'s exploration partner, Platina Resources Ltd., has intersected high-grade mineralization in its first drill hole from the recently completed drilling program at the Blue Moon zinc-copper-gold project. The current drilling program was successful in expanding the high-grade mineralization cut in hole BMZ78 in 2018.
Hole BMZ79 intersected a significant zones of high-grade zinc mineralization, in the form of sphalerite, including (not true width; true width approximately 55 per cent):
- 7.47 metres (24.5 feet) at 25.55 per cent zinc, 0.87 per cent copper, 0.68 gram per tonne gold and 17 g/t silver for a zinc equivalence (ZnEq) of 28.46 per cent from 412.81 metres, including:
- 3.05 metres (10.0 feet) at 49.60 per cent zinc, 1.39 per cent copper, 0.91 g/t gold and 30 g/t silver for a ZnEq of 54.11 per cent from 414.65 metres.
A second zone of zinc mineralization in the same hole from 450 metres included:
- 10.96 metres (36.0 feet) at 3.11 per cent zinc, 0.47 per cent copper and 0.27 per cent lead for a ZnEq of 4.62 per cent from 450.37 metres, including:
- 2.08 metres (6.8 feet) at 4.2 per cent zinc for a ZnEq of 5.24 per cent from 457.16 metres.
The high-grade zone of BMZ79 includes the highest zinc interval ever intercepted in the project, 1.71 metres (5.6 feet) at 51.9 per cent zinc, 1.49 per cent copper, 0.05 per cent lead, 0.85 g/t gold and 31.9 g/t silver from 414.65 metres.
The high-grade mineralized intercept in hole BMZ79 is 50 metres (164 feet) above and eight metres (26 feet) south of the high-grade mineralization intercepted by the 2018 Blue Moon Zinc diamond hole BMZ78. The intercept extends the size of the high-grade zone of mineralization within the Main mineralized horizon. The Main mineralised horizon also intersected some interesting anomalies of gold and silver.
The stage 1 drilling program totalled 1,132 metres (3,714 feet) and tested the northern border of the mineral resource as well as extend the zone of high-grade mineralization near hole BMZ78 which was drilled by Blue Moon in 2018 (see Jan. 18, 2019, release). Hole BMZ80, the second hole in the program, has assay results pending.
Platina is currently paying 100 per cent of the drill program costs and can earn an initial 50-per-cent 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 per cent by incurring an additional $3.75-million including the completion of a prefeasibility study and payment to the company of $500,000.
Drill table
Mineralized intersections for hole BMZ79 are outlined in the associated table.
DRILL HOLE INTERCEPTS INFORMATION (DOWNHOLE INTERSECTIONS IN METRES) Drill hole From To Thickness Zinc grade Copper grade Lead grade Gold grade Silver grade ZnEq (m) (m) (m) (% Zn) (% Cu) (% Pb) (g/t Au) (g/t Ag) (%) BMZ79 412.81 420.28 7.47 25.55 0.87 0.02 0.68 17.39 28.46 including 414.65 417.70 3.05 49.60 1.39 0.05 0.91 30.32 54.11 BMZ79 450.37 461.33 10.96 3.11 0.47 0.27 0.16 4.49 4.62 including 457.16 459.24 2.08 4.22 0.24 0.33 0.08 3.3 5.24 Note Thickness are not true width. True width is approximately 55 per cent of core length.
Quality assurance/quality control
Drilling completed on the project in 2019 was supervised on site by Dr. Gustavo Delendatti, a member of the Australian Institute of Geoscientists. Dr. Delendatti collected and tracked samples and implemented a full QA/QC program using blanks, standards and duplicates to monitor analytical accuracy and precision. Drill core was logged and sampled in a secure core processing and storage facility located at the Blue Moon site in Mariposa county, California. Core samples from the program were cut in half using a diamond-bladed rock saw, sealed on site, and were delivered directly by Platina to the ALS laboratories lab facility in Reno, Nev., for sample preparation and analysis whereas the four-acid ICP-AES (inductively coupled plasma atomic emission spectroscopy) multielement package (33 elements) for zinc, copper, lead and silver ICP as well as the base metals overlimits has been conducted at ALS Vancouver, both international accredited laboratory under ISO/IEC 17025 standards. Diamond core samples were analyzed using a combination of ALS's ME-ICP61 process for low-level concentrations (ICP-ES four-acid digestion ). Base metals overlimits have been finalized with assay-grade four-acid ICP and titration. Gold assaying was completed with FA430, a 30-gram fire assay with ICP-AAS (inductively coupled plasma atomic absorption spectroscopy) finish and gravimetric finish for overlimits. Silver overlimits had gravimetric finish. Base metal overlimits were finalized with titration Zn-VOL50 (zinc), Cu-VOL61 (copper) and Pb-VOL70 (lead), and a silica wash was used between high-grade samples to ensure no sample carry-over. No material differences were found in any of Platina's quality control samples nor ALS internal QA/QC samples. No QA/QC concerns were observed with the results shown in this report.
Zinc equivalent calculation (ZnEq)
The ZnEq formula and the underlying parameters used in its formulation are set out in the associated table.
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 as detailed in the NI 43-101 filed on SEDAR on Nov. 20, 2018. The equation to calculate ZnEq is as follows: ZnEq equals (Zn per cent times 24.70 plus Cu per cent times 55.80 plus Pb per cent times 19.00 plus Ag (ounces per ton) times 11.05 plus Au (ounces per ton) times 875.00) divided by 24.70.
About Blue Moon Zinc Corp.
Blue Moon is currently advancing its Blue Moon polymetallic deposit which contains zinc, gold, copper and silver in partnership with Platina. The deposit is open at depth and along strike. The company also holds 100 per cent of the Yava polymetallic project in Nunavut that is on strike to Glencore's Hackett River deposit.
Qualified person
John McClintock, professional engineer, a director of the company, is a qualified person as defined by National Instrument 43-101, has reviewed the scientific and technical information that forms the basis for this press release.
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