Blue MOON Files Updated 43-101 Mineral Resource: 7.8 Million Inferred Tons at 8.07% Zinc Equivalence, Including 771 Million Pounds of Zinc, 300,000 Ounces of GOLD, and 10 Million Ounces of Silver
BLUE MOON FILES UPDATED 43-101 MINERAL RESOURCE:
7.8 MILLION INFERRED TONS AT 8.07% ZINC EQUIVALENCE,
INCLUDING 771 MILLION POUNDS OF ZINC, 300,000 OUNCES OF
GOLD, AND 10 MILLION OUNCES OF SILVER
November 20, 201 8 – Blue Moon Zinc Corp. (TSXV: MOON; US: BMOOF) (the
“Company”) is pleased to announce a Mineral Resource update for its 100% owned Blue Moon
Zinc Deposit. The deposit comprises 7.8 million tons in the Inferred Mineral Resource category
grading 8.07% zinc equivalent (“ZnEq”) at a 4.0% ZnEq cut-off grade.
Patrick McGrath, Chief Executive Officer, stated, “The Mineral Resource, which contains an
estimated 771 million pounds of zinc, 300,000 ounces of gold, and over 10 million ounces of silver
in the Inferred Mineral Resource category at a conservative 4.0% ZnEq cut-off grade, reinforces
our belief that the Blue Moon project is a high quality polymetallic deposit. Our next steps will
include further explor ation and expan sion of the deposit , and continue to p ursue additional
exploration opportunities to identify potential new massive sulphide zones on the property recently
identified through our internal review of the historical work.”
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 18,350,000 2.80 0.29 0.74 0.02 0.17 4.64 1,028 106 62 14 0.4
2 13,060,000 3.60 0.34 0.97 0.03 0.22 5.93 940 90 56 13 0.4
3 9,380,000 4.44 0.41 1.21 0.03 0.27 7.29 833 78 50 11 0.3
4 7,790,000 4.95 0.46 1.33 0.04 0.29 8.07 771 71 46 10 0.3
5 6,490,000 5.44 0.50 1.44 0.04 0.32 8.79 707 64 41 9 0.2
6 5,330,000 5.95 0.53 1.54 0.04 0.34 9.51 635 57 36 8 0.2
7 4,200,000 6.54 0.57 1.63 0.04 0.36 10.33 549 48 30 7 0.2
8 3,090,000 7.21 0.63 1.78 0.05 0.38 11.34 446 39 24 6 0.1
There was no change in the tons, grade or contained metal between the current NI 43 -101 report
and the NI 43 -101 report filed on November 13, 2017. The only material change in the Mineral
Resource was the re -classification of the Mineral Resou rce as 100% Inferred versus the prior
estimate where approximately half of the Mineral Resource was categorized as Indicated and half
as Inferred. The Company expects to revisit the resource classifications in future Mineral Resource
reports.
The Mineral Resource is based on 1,540 assay results from 82 diamond drill holes, totaling 111,250
feet (33,900 meters) of drilling. The deposit is a past producer with Hecla Mining Company mining
55,000 tons at 12.3% zinc during the second world war . It was during the 1980’s that the project
experienced extensive drilling leading to Westmin Resources Inc. (now Boliden) taking the project
towards a production decision before divesting all its North American assets to focus on Europe.
The Company continues to move the Blue Moon forward with the hiring of a local community
manager, performing topographical surveys, re -surveying the historical drill collars, obtaining a
three-year drilling permit and recently completing the Company’s own drill program. The
Company will provide an initial update on its drilling program shortly as assays are still pending.
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. 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 considered 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 Company is currently advancing its 100%-owned Blue Moon zinc deposit which also contains
significant credits of copper, silver and gold. The deposit open at depth and along strike . 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 fil ed on
SEDAR on November 20, 2018. The Company plans to advance the Blue Moon P roject through
to feasibility, permitting and ultimately production.
For more information please contact:
Patrick McGrath, CEO
1-832-499-6009
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 releas e 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 o f 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 bu siness
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 info rmation, 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.