Red Moon Resources – Gypsum Production Continues in Newfoundland
333 Duckworth Street, St. John's, NL, A1C 1G9
Telephone: (709) 754-3186 Fax: (709) 754-3946 Email: [email protected]
www.redmoonresources.com
News Release
July 15, 2020
Stock Symbol: TSX.V: RMK
Red Moon Resources – Gypsum Production Continues in Newfoundland
St. John’s, Newfoundland and Labrador: Red Moon Resources Inc. (“the
Company” - “Red Moon” TSX-V:RMK) announces that production has
commenced at its Ace gypsum/anhydrite mine in western Newfoundland. The
first shipment of the season was made on June 19th and a second shipment is
scheduled for this week. Notwithstanding the Covid 19 disruptions which have
impacted production and sales, the company is pleased with the progress made
thus far in 2020. Overall, production is anticipated to be less than in 2019. Barring
any future Covid 19 disruptions markets are expected to normalize in 2021.
In anticipation of future demands for gypsum, the Company has been evaluating
further mine development opportunities in the historic Flat Bay mines. This
includes the possible reclamation of historic gypsum tailings left over from
previous operations. It is estimated internally, based on drone surveys, that the
tailings pile contains approximately one million tonnes of gypsum tailings. Particle
size appears to be less than 3 inches in diameter which was considered waste
from previous operations. The tailings were produced solely from physical
crushing and screening. They were never processed with chemicals and as such
are not toxic.
An independent bench scale analysis of the tailing samples has been undertaken
on behalf of the Company. It indicates that gypsum purity may be amenable to
enrichment through dry or wet sieve screening to remove insoluble impurities to
the point of meeting customer specifications for cement and / or wallboard. The
Company is planning on scaling up a dry screen test sample this summer to
determine the enrichment profile and the potential recovery factor of saleable
333 Duckworth Street, St. John's, NL, A1C 1G9
Telephone: (709) 754-3186 Fax: (709) 754-3946 Email: [email protected]
www.redmoonresources.com
material versus insoluble and fines. This project, if viable, will not only provide
saleable material for the Company but will help remediate historic workings on
the property.
As well, the Company is evaluating the merits of removing overburden to access
another gypsum deposit on the Flat Bay mineral property. This will require a
drilling program to confirm and reference historic drilling results.
Further information regarding the Company is available at
www.redmoonresources.com .
Patrick J. Laracy, P. Geo, President is the qualified person responsible for the
contents of this news release as defined in National Instrument 43-101.
Red Moon is an industrial minerals company with production of gypsum/anhydrite
at its Ace Mine in western Newfoundland. As well it is developing the Captain Cook
Salt deposit and the Black Bay Nepheline deposit in Newfoundland and Labrador.
Vulcan Minerals Inc. (TSX.V: VUL) owns approximately 6 3% of the common shares
of Red Moon.
We seek Safe Harbor.
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.
For information please contact:
Patrick J. Laracy, President
(709) 754-3186
www.redmoonresources.com