Blue Moon Announces Corporate Update and Director Resignation
May 28, 2020 – Blue Moon Zinc Corp. (TSX.V: MOON; OTC: BMOOF) (the “Company”) is currently awaiting confirmation by its partner, Platina Resources Ltd. (“Platina”), on the timing of the follow-on drill program at the Blue Moon project. The last three drill holes, BMZ-80, BMZ-79 and BMZ-78, all demonstrated significant intersections of zinc, copper, gold and silver.
Platina is currently paying 100% of the drill program costs and can earn an initial 50% 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 by February 2021. Platina can increase its interests to 70% by incurring an additional $3.75 million including the completion of a pre-feasibility study and payment to the Company of $500,000.
The Company announces the resignation of Peter Ball as a director of the Company. The Company wishes to thank Mr. Ball for his contributions to the Company over the last two years.
About Blue Moon
| Blue Moon (TSX.V: MOON; OTC: BMOOF) is currently advancing its Blue Moon polymetallic deposit | ||
|---|---|---|
| which contains zinc, gold, copper and silver in partnership with Platina Resources Limited. 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. 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.bluemoonmining.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 [email protected]
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.