#Canada #Toronto #Blue Moon #Springer Mine #WO₃

Blue Moon Metals Unveils New Assay Results at Springer Tungsten Mine

Blue Moon Metals Inc. (TSXV: MOON) (NASDAQ: BMM) recently shared encouraging findings from its ongoing relogging campaign at the Springer Tungsten Mine located in Imlay, Nevada. This update reveals a drill-hole result of 0.3 meters yielding 7.84% WO₃, marking one of the highest grades encountered so far in this project.

The company is currently engaged in an extensive 18,000-meter relogging initiative, revisiting previously drilled core material. Thus far, about 77% of this historical core has been reexamined. Among these efforts, drillhole NM-30 delivered an impressive sample grading of 7.82% WO₃ from a depth of 183.5 meters. This particular intercept, found within a skarn lens in the Sutton 1 zone, stands out as the top assay recorded in the East Sutton Beds so far. It is worth noting that this high-grade interval had not been analyzed during its original drilling in 1977, which emphasizes the potential of the current re-assay campaign.

In addition to NM-30’s results, the assessments from drillhole NM-45 reaffirmed a noteworthy 9.44-meter segment showing a grade of 0.26% WO₃. This re-assay also unveiled a new mineralized zone further down that had not been previously sampled, yielding a satisfactory 0.18% WO₃ over 3.8 meters. Full tables of the new assays have been made publicly available for scrutiny and further analysis.

Sampling and Quality Assurance Measures

The examination at the Springer Mine utilizes historical cores sourced from several former owners, incorporating various core sizes such as BQ, NQ, and HQ. The ongoing sampling strategy involves a meticulous process of quartering previously assessed materials alongside a considerable volume of unsampled but mineralized rock. The analysis is executed by ALS Geochemistry, a reputable independent lab known for its comprehensive analytical services, including XRF assessments for WO₃ and a multi-element suite.

Strict Quality Assurance/Quality Control (QA/QC) protocols have been introduced in alignment with the Canadian Institute of Mining (CIM) Best Practice Guidelines. QA/QC samples constitute roughly 12.5% of all assays, establishing a reliable database for prospective exploration strategies and resource assessments.

Stock Option Grants and Future Activities

Furthermore, the company has granted 150,000 stock options under its share compensation plan to two consultants. With an exercise price set at C$6.99 per option and a term of five years from the date of grant, these options will vest incrementally over a three-year period, reflecting Blue Moon's continuous commitment to its workforce as well as its overall business strategy.

A Glimpse into Blue Moon’s Operations

Blue Moon is currently working on six brownfield polymetallic undertakings, including projects in Norway and the United States, targeting critical metals like zinc, copper, and tungsten, which have been identified as pivotal to both the USGS and EU’s economic frameworks. The comprehensive approach to these projects involves leveraging existing local infrastructure that encompasses roads and power supply.

With major stakeholders like Teck Resources Limited and funds managed by Oaktree Capital Management invested in Blue Moon’s ventures, the future appears promising. This commitment from influential shareholders adds an additional layer of confidence as the company navigates the complexities of mineral exploration and extraction.

In summary, Blue Moon Metals Inc. continues to make strides at the Springer Tungsten Mine, unveiling assay results that not only showcase the hidden potential of historical core samples but also set a pathway for future endeavors in mineral exploration and development.