Significant Developments in Nussir and NSG Projects
Blue Moon Metals Inc. (TSXV: MOON) is excited to announce updates regarding its ongoing projects in Norway, particularly focusing on the Nussir and NSG Copper-Zinc projects. The company has achieved remarkable milestones, showcasing its commitment to expanding its mining capabilities and enhancing resource estimates.
Nussir Project Update
The advancement of the Nussir underground decline is progressing steadily. The dedicated mining contractor, Leonhard Nilsen & Sønner AS (LNS), initiated construction recently and, as of now, has successfully extended the decline by a total of 656 metres. This achievement is pivotal for establishing underground access, facilitating future mine development, and enabling early infrastructure installation.
Construction Activities
In addition to the decline, the company has secured vital equipment, including a high-voltage transformer, crucial for reducing construction risks and supporting project timelines. Moreover, Phase 1 of the Early Works Construction is complete, ensuring construction areas are established to facilitate further development efforts.
Engineering and Studies
The feasibility study is well on track, with comprehensive design reviews completed. A full NI 43-101 compliant feasibility study is expected to be released soon, which will update on various factors including operating and capital costs, investment to date, and current commodity prices. Long-lead equipment packages have also been issued for formal tender to maintain procurement timelines and adhere to overall construction schedules.
A geotechnical investigation program for the process facility has been successfully concluded, producing essential data to support future engineering activities. A final investment decision is anticipated shortly.
Exploration Initiatives at Nussir
Blue Moon is excited to report the initiation of a surface directional drilling campaign at the Nussir project, aimed at significantly enhancing the current mineral resource estimate (MRE). This program is focused on uncovering extensions of high-grade mineralization at depth within the world's oldest sediment copper deposit.
Initial drilling efforts will cover an approximate 4,000 metres, targeting a gap in historical high-grade intersections. This approach aims to utilize advanced directional drilling techniques to minimize surface disturbance while effectively testing the western extent of the deposit.
Targeted Drilling Goals
- Investigate the mineral resource surrounding deeper intersections, which potentially includes 8.5 to 16.5 million tonnes grading between 0.7% to 1.3% Cu, along with additional elements.
- Research elevated platinum and palladium levels at depth, potentially integrating these findings into the MRE.
- Expand mineralization beyond 1,000 metres and collect geotechnical and metallurgical data for future study phases.
NSG Project Update
At the NSG Copper-Zinc project, operations are intensifying. The contractor Fauskebygg AS mobilized to the site in September and has already completed several preparatory improvements. Key work includes tunnel enhancements, allowing safe and efficient access for equipment as further development unfolds.
Exploration Activities and Geological Mapping
The technical team is actively reviewing historical drill cores and has conducted thorough geological mapping across all mine permit regions. This intensive work has significantly improved geological understanding, leading to the identification of new exploration targets.
A 10,000-metre underground exploration program is set to commence, focusing on infill and expansion drilling at the Rupsi deposit, which currently holds substantial inferred resources. There is potential to enhance resource estimates, particularly in gold, silver, sulfur, and cobalt.
Restricted Share Units Award
Additionally, the company has granted an aggregate of 385,415 restricted share units (RSUs) as part of its share compensation plan. Each RSU entitles the holder to one common share upon vesting over a two-year period, further aligning stakeholder interests.
About Blue Moon
Blue Moon Metals is diligently advancing its three brownfield polymetallic projects, which include the prominent Nussir copper-gold-silver project and the NSG copper-zinc-gold-silver project in Norway. Moreover, the Blue Moon project in the United States stands as another critical asset. Each project is strategically positioned with ample infrastructure, addressing the significant demand for copper and zinc, pivotal to global economic stability.
Frequently Asked Questions
What updates has Blue Moon Metals provided regarding their projects?
Blue Moon Metals has shared significant progress on both the Nussir and NSG projects, highlighting underground advancements and upcoming drilling initiatives.
What are the key projects managed by Blue Moon Metals?
The company is advancing three projects: the Nussir copper-gold-silver project, the NSG copper-zinc-gold-silver project, and the Blue Moon zinc-gold-silver-copper project.
What is the importance of the directional drilling program at Nussir?
The directional drilling aims to expand mineral resource estimates and target deeper mineralization, enhancing the project's overall value potential.
When can stakeholders expect the feasibility study results?
The full NI 43-101 compliant feasibility study results are expected to be published soon, encompassing operating costs and other essential data.
How many RSUs has Blue Moon Metals awarded recently?
The company has granted 385,415 RSUs to certain officers as part of its compensation plan.
