Blue MOON Announces Updated Mineral Resource Estimate
BLUE MOON ANNOUNCES UPDATED MINERAL RESOURCE ESTIMATE
October 3, 2017 – Blue Moon Zinc Corp. (TSXV: MOON; US OTC: BMOOF) (the “ Company”) is
pleased to announce a Mineral Resource update for its 100% owned Blue Moon zinc deposit. The
deposit now comprises 3.7 million tons in the Indicated Mineral Resource category grading 8.3%
zinc equivalent (“ZnEq”) and 4.1 million tons of Inferred Mineral Resources grading 7.8 % ZnEq,
both at a 4.0% ZnEq cut-off grade.
Patrick McGrath , Ch ief Executive Officer , stated, “The updated Mineral Resource contain s an
estimated 377 million pou nds of zinc in the I ndicated Mineral Resource cate gory and a further
395 million pounds of zinc in the Inferred Mineral Resource category, both at a conservative 4.0%
ZnEq cut-off grade. The Mineral Resource update couple d with prior metallurgical testing by
Lakefield Research in 1998 (now SGS) which indicated excellent recovery and a clean concentrate,
gives us co nfidence to proceed with the Preliminary Economic Assessment of the Blue Moon
deposit.”
There is a high likelihood the deposit continues at depth as the mineralized zones are near vertical
and the deepest holes in the resource end in mineralization. Several historical exploration holes
drilled below the resource intersected significant zinc grades. Blue sky potential also exists along
strike to find another “Blue Moon” style deposit as polymetallic massive sulphide depo sits are
often found in pods or clusters. Induced polarization (“I P”) and soil anom alies along strike
indicate there’s a high probability further polymetallic deposits exist within the Company’s
mineral rights. The Company expects to commence a drilling program in 2018.
Updated Blue Moon Indicated Mineral Resources:
Cutoff Tons > Grade > Cutoff Contained Metal (Millions)
ZnEq Cutoff Zn Cu Ag Au Pb ZnEq lbs lbs lbs Oz
s
ozs
% (tons) % % oz/t oz/t % % Zn Cu Pb Ag Au
1 6,210,000 3.60 0.40 0.88 0.02 0.17 5.88 447 50 21 5.5 0.1
2 5,220,000 4.12 0.46 1.01 0.03 0.19 6.72 430 48 19 5.3 0.1
3 4,220,000 4.73 0.53 1.16 0.03 0.22 7.74 399 45 18 4.9 0.1
4 3,700,000 5.09 0.57 1.25 0.03 0.23 8.33 377 42 17 4.6 0.1
5 3,160,000 5.50 0.62 1.35 0.04 0.25 8.99 348 39 16 4.3 0.1
6 2,620,000 6.00 0.66 1.43 0.04 0.27 9.71 314 35 14 3.8 0.1
7 2,130,000 6.53 0.71 1.46 0.04 0.29 10.45 278 30 12 3.1 0.1
8 1,660,000 7.11 0.77 1.49 0.04 0.29 11.28 236 25 10 2.5 0.1
Updated Blue Moon Inferred Mineral Resources:
Cutoff Tons > Grade > Cutoff Contained Metal (Millions)
ZnEq Cutoff Zn Cu Ag Au Pb ZnEq lbs lbs lbs ozs ozs
% (tons) % % oz/t oz/t % % Zn Cu Pb Ag Au
1 12,140,000 2.40 0.23 0.67 0.02 0.17 4.00 582 56 41 8.1 0.2
2 7,840,000 3.25 0.27 0.95 0.03 0.24 5.40 509 42 37 7.5 0.2
3 5,160,000 4.20 0.32 1.25 0.03 0.32 6.93 434 33 32 6.4 0.2
4 4,090,000 4.82 0.35 1.41 0.04 0.35 7.84 395 28 29 5.8 0.2
5 3,330,000 5.39 0.38 1.53 0.04 0.38 8.61 359 25 25 5.1 0.1
6 2,710,000 5.91 0.40 1.64 0.04 0.41 9.32 320 22 22 4.4 0.1
7 2,060,000 6.55 0.43 1.80 0.04 0.44 10.21 270 18 18 3.7 0.1
8 1,430,000 7.32 0.46 2.12 0.05 0.49 11.41 209 13 14 3.0 0.1
The Mineral Resource is based on 1,540 assay results from 82 diamond drill holes, totaling
111,250 feet (33,900 meters) of drilling.
Zinc Equivalents (ZnEq)
The Mineral Resource has been stated in terms of ZnEq. The ZnEq formula and the underlying
parameters used in its formulation are set out below.
Metal Price (US$) 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. The Mineral Resource estimate is
summarized above at a range of ZnEq cut-off grades. The equation to calculate ZnEq is as follows:
ZnEq = (Zn%*24.70 + Cu % * 55.80 + Pb% * 19.00 + Ag(oz/t) * 11.05 + Au(oz/t) * 875.00) / 24.70
Qualified Persons
The Qualified Person (“ QP”) for the Mineral Resource estimate is Gary Giroux , P.Eng., who is
independent to the Company. The Mineral Resource estimate has been prepared under the
guidelines of National Instrument 43 -101 (“NI 43 -101”) for reporting of Mineral Resources. A
technical report on the new resource estimate will be filed on SEDAR at www.sedar.com and on
the Company’s website at www.bluemoonmining.com within 45 days of the issuance of this press
release. The co-author of the NI 43-101 is Lawrence O’Connor, a QP. Mr. Lawrence is a technical
advisor to the Company and is not consider ed independent. Mr. Giroux and Mr. O’Connor have
reviewed the scientific and technical information that forms the basis for this press release.
About Blue Moon
The 100% owned Blue Moon polymetallic deposit has a Mineral Resource estimate of 3.7 million
tons with a grade of 8.3% zinc equivalence including approximately 377 million pounds of zinc in
the Indicated category and 4.1 million tons with a grade of 7.8% zinc equivalence including
approximately 3 95 million pounds of zinc in the Inferred c ategory with significant credits of
copper, silver and gold. The resource is open at depth and along strike and historical metallurgical
testing indicates excellent recovery and a clean zinc concentrate. A NI 43-101 report detailing the
resource and summarizing metallurgical recoveries will be available on the company’s website
(www.bluemoonmining.com) and on SEDAR. The Company plans to advance the Blue Moon
project through to feasibility and permitting.
For more information please contact:
Patrick McGrath, CEO
1-832-499-6009
For additional information related to communications, media relations and investor relations
please contact:
Terry Bramhall
1-604-833-6999
Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. There is no certainty
that all or any part of mineral resources will be converted to mineral reserves. Inferred Mineral Resources are based
on limited drilling which suggests the greatest uncertainty f or a resource estimate and that geological continuity is
only implied. Additional drilling will be required to verify geological and mineralization continuity and there is no
certainty that all of the inferred resources will be converted to measured and in dicated resources. Quantity and
grades are estimates and are rounded to reflect the fact that the resource estimate is an approximation.
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. This release includes
certain statements that may be deemed to be forward-looking statements. All statements in this release, other than
statements of historical facts that address the Company’s intention with the Blue Moon project, access to capital,
regulatory approvals, exploration and development drilling, exploitation and development activities and events or
developments that the Company expects are forward -looking statements. Although the Company believes the
expectations expressed in such forward -looking statements are based on reasonable assumpt ions, 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, exploitation and exploration successes, continuity of mineralization, uncertainties
related to the ability to obtain necessary permits, licenses and title and delays due to third party opposition, changes
in government po licies regarding mining and natural resource exploration and exploitation, and continued
availability of capital and financing, and general economic, market or business conditions. Investors are cautioned
that any such statements are not guarantees of futu re 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 expre ssed 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. For more information
on the Company, investors should review the Company's continuous disclosure filings that are available at
www.sedar.com.