Moon news as of 2:00 pm Blue Moon partner drills 19.58 m of 12.41% ZnEq
2020-02-03 13:55 ET - News Release
Mr. Patrick McGrath reports
BLUE MOON DRILLING STRIKES WIDE ZONES OF ZINC, GOLD AND SILVER MINERALIZATION
Blue Moon Zinc Corp.'s exploration partner, Platina Resources Ltd., has confirmed significant intersections of high-grade zinc, gold and silver mineralization from the second hole completed in 2019 at its Blue Moon zinc-copper-gold project in the United States.
Diamond drill hole BMZ80 has intersected the three following significant intervals, in the form of sphalerite, chalcopyrite, galena, and minor tetrahedrite and bornite (true width is approximately 55 per cent):
- 19.58 metres (64.2 feet) at 8.41 per cent zinc, 0.49 per cent copper, 1.22 grams per tonne gold and 82.75 g/t silver for a zinc equivalence (ZnEq) of 12.41 per cent from 398.44 m, including:
- 1.26 m (4.1 feet) at 4.57 per cent zinc, 0.37 per cent copper, 6.71 g/t gold and 513 g/t silver for a ZnEq of 14.59 per cent from 398.44 m;
- 2.16 m (7.1 feet) at 16.49 per cent zinc, 0.89 per cent copper, 0.7 g/t gold and 35 g/t silver for a ZnEq of 20.90 per cent from 405.55 m;
- 3.17 m (10.4 feet) at 11.47 per cent zinc, 0.70 per cent copper, 2.29 g/t gold and 79 g/t silver for a ZnEq of 16.47 per cent from 411.99 m;
- 6.15 m (20.2 feet) at 3.60 per cent zinc, 0.19 per cent copper, 1.97 g/t gold and 78.6 g/t silver for a ZnEq of 7.35 per cent from 424.54 m, including:
- 0.88 m (2.9 feet) at 1.63 per cent zinc, 0.1 per cent copper, 9.81 g/t gold and 312 g/t silver for a ZnEq of 8.18 per cent from 424.54 m;
- 1.07 m (3.5 feet) at 7.91 per cent zinc, 0.37 per cent copper, 2.44 g/t gold and 139 g/t silver for a ZnEq of 14 per cent from 425.42 m;
- 3.53 m (11.6 feet) at 4.27 per cent zinc, 0.37 per cent copper, 2.4 per cent lead, 3.76 g/t gold and 126 g/t silver for a ZnEq of 12.49 per cent from 448.9 m, including:
- 0.85 m (2.8 feet) at 7.75 per cent zinc, 0.66 per cent copper, 4.25 per cent lead, 14.55 g/t gold and 325 g/t silver for a ZnEq of 31.77 per cent from 448.9 m.
Patrick McGrath, Blue Moon chief executive officer, commented: "Drill holes BMZ-80 and BMZ-79 continue to demonstrate the continuity of the high-grade zinc along with impressive copper, gold and silver metal content. Gold values of 14.55 g/t and 9.8 g/t, and silver values of 325 g/t and 312 g/t, respectively, over approximately three feet are present within the massive sulphides."
The mineralization intercepted in BMZ80 is located 50 m (164 feet) north of hole BMZ79 and has confirmed a wide, high-grade zinc, gold and silver mineralized zone in the northern edge of the main mineralized horizon. In addition, the deeper intercept from 450 m represents a northern extension of the western mineralized horizon. The drill hole table includes the main mineralized intervals intercepted by holes BMZ79 and BMZ80.
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 m 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 Holes BMZ80 and BMZ79 are outlined in the drill hole table.
DRILL HOLE INTERCEPTS INFORMATION (DOWNHOLE INTERSECTIONS IN M) Drill hole From (m) To (m) Thickness (m) Zinc (%) Copper (%) Lead (%) Gold (g/t) Silver (g/t) ZnEq (%) grade grade grade grade grade BMZ79 412.81 420.28 7.47 25.55 0.87 0.02 0.68 17.39 28.46 including 414.65 417.7 3.05 49.6 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 BMZ80 398.44 418.02 19.58 8.41 0.49 0.22 1.65 82.75 12.41 including 398.44 399.7 1.26 4.57 0.37 1.51 6.71 513 14.59 including 405.55 407.71 2.16 16.49 0.89 0.32 0.7 35.01 20.90 including 411.99 415.16 3.17 11.47 0.7 0.01 2.29 79.0 16.47 BMZ80 424.54 430.69 6.15 3.6 0.19 0.36 1.97 78.6 7.35 including 424.54 425.42 0.88 1.63 0.09 0.75 9.81 312 8.18 including 425.42 426.49 1.07 7.91 0.37 1.21 2.44 139 14.00 BMZ80 448.89 452.42 3.53 4.27 0.37 2.41 3.76 125.68 12.49 including 448.89 450.43 1.54 7.92 0.76 4.53 6.66 210.97 22.13 including 448.89 449.74 0.85 7.75 0.66 4.25 14.55 325.0 31.77 including 449.74 450.43 0.69 8.12 0.88 4.87 2.43 70.5 17.29 BMZ80 463.74 464.52 0.78 7.34 0.37 1.26 0.02 138 10.97 Note: Thicknesses are not true width. True width is approximately 55 per cent of thickness
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 inductively coupled plasma atomic emission spectroscopy multielement package (33 elements) for zinc, copper, lead and silver ICP as well as the base metals overlimits have been conducted at ALS Vancouver, both international accredited laboratories 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 metal 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 finish and gravimetric finish for overlimits. Silver overlimits had gravimetric finish. Base metal overlimits were finalized with titration Zn-VOL50 (zinc), Cu-VOL61 (copper), 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 the Platina's quality control samples or 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 herein.
Metal Price (U.S. $) 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 National Instrument 43-101 filed on SEDAR on Nov. 20, 2018.
Qualified persons
John McClintock, PEng, 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.
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 Blue Moon 43-101 mineral resource includes 7.8 million inferred tons at 8.07 per cent zinc equivalent, which includes 771 million pounds of 4.95 per cent zinc, 300,000 ounces of gold at 0.04 ounce per ton, 71 million pounds of 0.46 per cent copper and 10 million ounces of silver at 1.33 ounces per ton