Blue Moon Signs Drill Contract for 2021 Work Program

Rhea-AI Summary

Blue Moon Metals (OTCQB: BMOOF) announced a drilling contract for its 2021 drill program on the Blue Moon VMS project in the US, starting in late August. This campaign aims to explore down dip extensions and test additional lenses. CEO Patrick McGrath highlighted that historical data analysis identified many exploration opportunities that may significantly enhance the deposit's potential size. The Blue Moon deposit contains approximately 7.8 million inferred tons at 8.07% zinc equivalent, containing substantial amounts of zinc, gold, copper, and silver.

Positive

• Drilling contract signed for the 2021 program, indicating progress on the Blue Moon project.
• Exploration program could significantly enhance the size of the Blue Moon deposit.
• Project has substantial inferred resources: 7.8 million tons at 8.07% zinc equivalent.

Negative

• Forward-looking statements caution against reliance due to potential market and operational uncertainties.

VANCOUVER, BC / ACCESSWIRE / July 13, 2021 / Blue Moon Metals Inc. (TSXV:MOON)(OTCQB:BMOOF) (the "Company") announces it has signed a drilling contract to carry out its 2021 drill program on its 100% owned Blue Moon polymetallic volcanic massive sulphide ("VMS") project in the United States. The core drilling campaign is expected to commence in late August and is designed to explore for down dip extensions of the deposit as well as to test for additional lenses to the south of the currently defined deposit.

"Over the past few months Blue Moon has spent considerable time reviewing the historical data and identified multiple exploration drilling opportunities, all of which could dramatically change the upside potential size of the Blue Moon deposit. This is an exploration program our team has been anxiously awaiting to start." Commented Patrick McGrath, CEO of Blue Moon.

About Blue Moon Metals

Blue Moon Metals (TSX.V: MOON; OTCQB: BMOOF) is currently advancing its Blue Moon polymetallic deposit which contains zinc, gold, silver and copper. The property is well located with existing local infrastructures including paved highways three miles from site; a hydroelectric power generation facility a few miles from site, three hour drive to the Oakland port and a four hour drive to service centre of Reno. 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 (4.95% zinc, 0.04 oz/t gold, 0.46% copper, 1.33 oz/t silver), containing 771 million pounds of zinc, 300,000 ounces of gold, 71 million pounds of copper, and 10 million ounces of silver. The 43-101 Mineral Resource report dated November 14, 2018 was authored by Gary Giroux, P. Eng., and Lawrence O'Connor, a QP, and entitled "Resource Estimate for the Blue Moon Massive Sulphide Occurrence". The 43-101 and related press release with details on the resource are available on the company's website and were filed on www.sedar.com on November 20, 2018. The Company also holds 100% of the Yava polymetallic project in Nunavut that is in the same volcanic lithologies and south of Glencore's Hackett River deposit. More information is available on the company's web site (www.bluemoonmetals.com).

Qualified Persons

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
1-832-499-6009
pmcgrath@bluemoonmining.com

Investor Contact:
Kevin Shum
Investor Relations
+1-647-725-3888 ext 702
kevin@jeminicapital.com

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 commodities, 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.

SOURCE: Blue Moon Metals Inc.

View source version on accesswire.com:
https://www.accesswire.com/655318/Blue-Moon-Signs-Drill-Contract-for-2021-Work-Program

FAQ

What is the significance of the drilling contract signed by Blue Moon Metals on July 13, 2021?

The drilling contract allows Blue Moon Metals to commence exploration at its Blue Moon VMS project, aiming to expand the deposit's size.

When is the drilling program for Blue Moon Metals expected to start?

The drilling program is expected to begin in late August 2021.

What resources does the Blue Moon deposit contain?

The Blue Moon deposit includes approximately 7.8 million inferred tons with 8.07% zinc equivalent, containing significant amounts of zinc, copper, gold, and silver.

What risks are associated with Blue Moon Metals' forward-looking statements?

Risks include market price volatility, exploration results uncertainty, and potential issues with obtaining necessary permits and financing.