Blue Moon adds to a project portfolio that contains the Owendale Scandium-Cobalt-Nickel Project, Skaergaard Gold-PGE Project, and Munni Munni Gold-PGE Project.
Under the Blue Moon deal, Platina can acquire 70% by spending $CAD3.25 million over 18 months to get 50% and an additional $3.75 million over 18 months to increase to 70%.
Blue Moon hosts a drill-ready high-grade VMS-style zinc-copper-gold deposit with significant resource expansion and development potential.
The existing deposit has an NI 43-101 resource estimate of 7.79 million tonnes for 4.95% zinc, 0.46% copper, 0.29% lead, 0.04 g/t gold and 1.33 g/t silver or 8.07% zinc equivalent.
This results in 771.2 million pounds of zinc, 71.7 million pounds of copper, 45.2 million pounds of lead, 0.3 million ounces of gold, and 10.4 million ounces of silver.
Around 113 holes for 43,000 metres have been drilled in the deposit to date.
Drill permits approved, ready to expand
Platina believes there is good potential to grow this already large, well-defined resource.
The company has identified a number of areas to test for resource extensions as well as other untested anomalies nearby. VMS-style deposits are often found in clusters.
A drill permit has been approved for a 10,000-metre program comprising infill and exploration drilling. The program is expected to generate significant news flow over the coming six months.
The initial focus will be on the new high-grade zone within deposit discovered by hole BMZ78 drilling 2018.
BMZ-78 was drilled into a previously untested area and represents the highest grades ever encountered at the property.
Core from the drill program will also be used to conduct additional metallurgical test work to confirm a processing flow sheet, which will lead into a pre-feasibility study.