Blue Moon Zinc Corp. (TSX.V: MOON) (OTC: BMOOF) Resource Estimates for California Project Indicate 377 Million Pounds of Zinc
- Price of zinc recently rose to $3,369 per metric ton, reaching highest point in more than a decade
- Estimated recovery rate of 95% for zinc seen at the Blue Moon site a key catalyst to its future development
- CEO Patrick McGrath calls the site “one of the best near-term development assets” in zinc mining
For Blue Moon Zinc Corp. (TSX.V: MOON) (OTC: BMOOF), the best may be yet to come. As zinc continues to rise in value, hovering near $3,369 per metric ton at time of writing (http://nnw.fm/bk5BG), the company is focused on its Blue Moon Project, located in Mariposa County, California. Zinc is used widely, largely in the manufacture of batteries and auto parts, but it has the future potential to be used in zinc-based batteries for electric cars and other energy storage applications.
Patrick McGrath, CEO, was originally just a shareholder of the junior zinc development company, but he said in a recent interview (http://nnw.fm/rHH2T) that he saw in Blue Moon, “one of the best near-term development assets” in zinc mining. He added that prior mid-tier mining companies had already done “most of the heavy lifting for us.” The project remained dormant after early work on the site for a number of reasons, most notably low zinc prices, but BMOOF estimates that there are some 377 million pounds of zinc indicated in the project and 395 million pounds inferred at the site, citing a recently completed mineral resource estimate (http://nnw.fm/hshS4).
Another reason other mining companies were reluctant to become involved in the site was California’s reputation for being “tough” in granting mining permits, but McGrath said that obtaining project permits within that state is no tougher than elsewhere, effectively “leveling the playing field.” A high estimated recovery rate of 95% for zinc at Blue Moon’s site is key to the company’s future development, McGrath said. The Blue Moon deposit is located on 525 acres in the foothills of the Sierra Nevada Mountains.
Although the market cap for the company is just $4.7 million, McGrath described BMOOF as being a great long-term investment for several reasons. One is its robust short-term “catalyst” in the next three months: its projected 1Q18 Preliminary Economic Assessment (PEA). The company said the PEA for the site would show its potential for economic development. The PEA, according to McGrath, should indicate Blue Moon as a viable stand-alone project. Next, the Blue Moon deposit is a volcanic massive sulphide (VMS) deposit, which are often found in ‘pods,’ indicating that more zinc deposits may be nearby.
McGrath said he sees a “high likelihood” that the Blue Moon project will offer an upside prospect for investors seeking exposure to zinc.
For more information, visit the company’s website at www.BlueMoonMining.com
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
- Price of zinc recently rose to $3,369 per metric ton, reaching highest point in more than a decade
- Estimated recovery rate of 95% for zinc seen at the Blue Moon site a key catalyst to its future development
- CEO Patrick McGrath calls the site “one of the best near-term development assets” in zinc mining
For Blue Moon Zinc Corp. (TSX.V: MOON) (OTC: BMOOF), the best may be yet to come. As zinc continues to rise in value, hovering near $3,369 per metric ton at time of writing (http://nnw.fm/bk5BG), the company is focused on its Blue Moon Project, located in Mariposa County, California. Zinc is used widely, largely in the manufacture of batteries and auto parts, but it has the future potential to be used in zinc-based batteries for electric cars and other energy storage applications.
Patrick McGrath, CEO, was originally just a shareholder of the junior zinc development company, but he said in a recent interview (http://nnw.fm/rHH2T) that he saw in Blue Moon, “one of the best near-term development assets” in zinc mining. He added that prior mid-tier mining companies had already done “most of the heavy lifting for us.” The project remained dormant after early work on the site for a number of reasons, most notably low zinc prices, but BMOOF estimates that there are some 377 million pounds of zinc indicated in the project and 395 million pounds inferred at the site, citing a recently completed mineral resource estimate (http://nnw.fm/hshS4).
Another reason other mining companies were reluctant to become involved in the site was California’s reputation for being “tough” in granting mining permits, but McGrath said that obtaining project permits within that state is no tougher than elsewhere, effectively “leveling the playing field.” A high estimated recovery rate of 95% for zinc at Blue Moon’s site is key to the company’s future development, McGrath said. The Blue Moon deposit is located on 525 acres in the foothills of the Sierra Nevada Mountains.
Although the market cap for the company is just $4.7 million, McGrath described BMOOF as being a great long-term investment for several reasons. One is its robust short-term “catalyst” in the next three months: its projected 1Q18 Preliminary Economic Assessment (PEA). The company said the PEA for the site would show its potential for economic development. The PEA, according to McGrath, should indicate Blue Moon as a viable stand-alone project. Next, the Blue Moon deposit is a volcanic massive sulphide (VMS) deposit, which are often found in ‘pods,’ indicating that more zinc deposits may be nearby.
McGrath said he sees a “high likelihood” that the Blue Moon project will offer an upside prospect for investors seeking exposure to zinc.
For more information, visit the company’s website at www.BlueMoonMining.com
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
