Maiden Re(US:MHLD) GlobeNewswire News Room·2025-04-10 10:30Core Viewpoint - Blue Moon Metals Inc. has announced a maiden mineral resource estimate for the Sulitjelma VMS deposit in Norway, indicating significant potential for further exploration and development in a historically productive mining district [1][2][6]. Mineral Resource Estimate - The maiden mineral resource estimate includes 17 million tonnes grading 1.06% Cu and 0.21% Zn in the inferred category, excluding gold, silver, and sulfur which were historically recovered as by-products [2][11]. - The resource estimate is classified entirely as Inferred Mineral Resources, which are considered too speculative to have economic viability applied [11][12]. Project Development Plans - The company plans to focus on the Rupsi and Dypet deposits, with government approval to extend an existing mine tunnel by up to 1 km and conduct 10,000 meters of underground drilling, with a budget of approximately 37 million NOK (~US$3.4 million) [3][6]. - Exploration activities will target mineral potential, with current underground workings in good condition, ending approximately 200 meters from the resource estimate outline [3][23]. Historical Context and Infrastructure - The Sulitjelma Project is located in a significant mining district with historical production of 26 million tonnes of copper at a grade of 1.80% from 1891 to 1991 [1][6]. - Blue Moon holds exclusive options to purchase historical processing plant infrastructure for a nominal value of 1 NOK (~US$0.1) and has access to numerous historical mining tunnels for efficient exploration [6][30]. Exploration Strategy - The exploration program aims to expand known mineralized zones and enhance resource confidence through systematic drilling, geological mapping, and geophysical surveys [23][24]. - The company anticipates that results from the exploration program will significantly advance the understanding and potential of the Sulitjelma Project [24][30].