Red Moon Engages SLR For Great Atlantic Feasibility
Red Moon Engages SLR For Great Atlantic Feasibility
St. John’s, Newfoundland and Labrador , July 07, 2021 - Red Moon Resources Inc. (the
“Company” or “Red Moon” - TSXV: RMK ) is pleased to announce the engagement of SLR
Consulting (Canada) Ltd. (“SLR”), a global leader in the mining and minerals advisory service, to
complete a Feasibility Study (“FS”) for the Company’s flagship Great Atlantic Salt Project in western
Newfoundland. By proceeding from a resource estimate directly to a Feasibility Study , given the
geological nature of this relatively homogeneous and shallow high-grade deposit immediately adjacent
to key infrastructure, the goal is to expedite potential development of Great Atlantic to serve the North
American road salt market.
Mr. Rowland Howe, Red Moon President who was mine manager of Compass Minerals’ (NYSE: CMP)
Goderich mine during its emergence as the largest underground salt mine in the world, commented:
“Great Atlantic has moved to an exciting new stage that will include a two to three-month drill program
to upgrade the resource classification, combined with a series of other development initiatives. The goal
is to demonstrate how this advantaged asset can be formally positioned through the FS as a potential
state-of-the-art ‘salt factory’ with all the right metrics to become a long-term player in the continental
East Coast road salt market that currently relies heavily on overseas imports.”
Mr. Howe concluded, “SLR brings impressive credentials to this project. In addition, the firm has a deep
familiarity with the resource sector in Newfoundland and Labrador, and has successfully spearheaded
the recent expansion of a salt mine in Europe . They are well qualified to carry out an independent
economic evaluation and complete this Feasibility Study on Great Atlantic.”
SLR will initially formulate a mining optionality assessment through an evaluation of all existing data
and the acquisition of fresh geotechnical information from the upcoming drill program. The second stage
of the FS, expected to be completed during the first half of 2022, will include the design of a mining
method, processing parameters, related infrastructure, environmental screening and an economic
evaluation.
Mr. Patrick Laracy, Red Moon CEO, stated: “We are now into the most active period in Red Moon
history in terms of project development, led by Great Atlantic, and this will be reflected by our news
flow.”
TSXV: RMK
333 Duckworth Street, St. John's
NL, A1C 1G9
Telephone: (709) 754-3186
Fax: (709) 754-3946
RedMoonResources.com
Great Atlantic Project Map
About SLR
SLR Consulting (Canada) Ltd., through its world leading mining and minerals advisory business, has
teams in Canada, the United States, the United Kingdom , Europe, Australia and South Africa. The
technical team incorporates the former Roscoe Postl e Associates Inc. and provides a comprehensive
suite of mining services that extends through the life cycle of projects including exploration programs,
resource estimation, environmental/social assessments to value recognition through reserve
development, feasibility studies, transactional support and critical decision making. SLR draws upon a
wealth of experience including professionals with extensive knowledge of the salt mining business.
About Red Moon Resources
Red Moon Resources Inc. is an emerging commodities leader in Atlantic Canada, focused on
Newfoundland and Labrador, with 100% working interest ownership of the Great Atlantic salt deposit
in addition to a producing gypsum mine and an early-stage nepheline discovery.
We seek Safe Harbor.
For information, please contact:
Patrick J. Laracy, CEO
(709) 754-3186
RedMoonResources.com
MarketSmart Communications Inc.
Adrian Sydenham
Toll-free: 1-877-261-4466
Email: [email protected]
Not for release in the United States or to U.S. newswire services
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This release may
contain certain forward-looking statements. Actual events or results may differ from the Company’s expectations. Certain risk factors beyond the
Company’s control may affect the actual results achieved. Accordingly, readers are advised not to place undue reliance on forward -looking
information. Except by law, the Company undertakes no obligation to publicly update or revise forward-looking information.