VANCOUVER, Aug. 29, 2018 /CNW/ - Blue Moon Zinc Corp. (TSXV: MOON; US: BMOOF) (the "Company") is pleased to announce that a Phase 1 drill program has just commenced at the Company's 100%-owned Blue Moon zinc-rich Volcanic Massive Sulphide ("VMS") deposit in Mariposa County, California. This is the first drilling at this project in more than 25 years with new interpretations of the system providing strong potential for fresh discoveries to significantly expand the known zinc-copper-silver-gold resource.
Patrick McGrath, Blue Moon CEO, commented: "It's an exciting new time for Blue Moon shareholders as we put our extensive review of historical data to work to identify potential new zinc-rich massive sulphide zones that could dramatically change the scale and dynamics of this project."
Initial drilling (approximately 4,000 feet or 1,200 meters) will target northern and southern extensions of the upper Main and West lenses between a depth of 500 and 1,000 feet from surface.
Blue Moon geologists also recently performed a comprehensive review of historical data and identified multiple additional priority targets that could represent potential new high-grade zones and/or expansion of current zones, including but not limited to:
- 600 feet of favourable untested stratigraphy immediately north of the East Zone;
- Down plunge extensions of the Main and West zones;
- Drill holes on the south flank of the West zone horizon cut stringer mineralization suggesting it is a feeder zone and points to a massive sulphide target to the south of the West zone. Further evidence for massive sulphides in this area comes from an untested off-hole electromagnetic (EM) conductor identified by previous operator Westmin;
- A 2,400-foot gap between mineralization in holes B-67, B-70 and B-66 is largely untested and warrants multiple exploration holes with the potential of discovering additional massive sulphide zones;
- A 1,500-foot-long zinc-in-soil anomaly with values ranging from 390 to 2,500 parts per metre ("ppm") has only been tested by four shallow holes and warrants further exploration drilling to test for massive sulphide mineralization underlying the soil anomaly.
Meanwhile, a review of drilling logs of the historical holes used in the NI-43-101 resource calculation revealed numerous intervals of massive and semi-massive sulphides that were not analysed. The Company will systematically sample and assay these intervals as part of the current drilling program.
Please visit our website (www.bluemoonmining.com) for additional information and to review our new corporate video.
About Blue Moon
The Company is currently advancing its 100%-owned Blue Moon zinc deposit which also contains significant credits of copper, silver and gold. The deposit, which is open at depth and along strike, yields historical metallurgical testing that indicates excellent mineral recovery and a clean zinc concentrate. A NI-43-101 technical report detailing the geological resource and summarizing metallurgical recoveries is available on the company's website (www.bluemoonmining.com), and filed on SEDAR on November 13, 2017. The Company plans to advance the Blue Moon Project through to feasibility, permitting and ultimately production.
Jack McClintock, P. Eng, a Director of the Company, 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.
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 Zinc Corp.
For further information: Patrick McGrath, CEO, 1-832-499-6009, [email protected]