Blue Moon Project.
Significant valuation upside
Brownfield project with large sunk cost and potential share price re-rating as it moves along value curve
Large, well defined resource
High grade zinc-copper-gold resource with significant expansion potential.
Attractive grades
Recent drilling intersected some of the highest grades ever encountered at the project
Drill ready
Planned 10,000m program ready to proceed which will generate significant news flow over the next 6 months
Right commodities, right time
Metals for a modern future
Favourable location
Excellent access to export ports and hydro-electric power. Strong tenure position in stable jurisdiction
The Project
- Platina realised its FY19 strategic decision to acquire a new project – Blue Moon Project.
- Blue Moon is a drill-ready, high-grade zinccopper-gold deposit with significant resource expansion potential.
- The project provides shareholders with exposure to an opportunity that will generate significant news flow as it advances through exploration, feasibility, permitting and into development.
Location
- Zinc smelters located within the USA and Canada, plus Asia/Australia options
- Four hours drive to Reno (service providers).
- Two hours drive to export port at Oakland.
- Stable jurisdiction with low corporate taxes and no state royalties.
Joint Venture Terms
- Platina to acquire a 70% interest in the Blue Moon Project by spending:
– $CAD3.25 million to earn 50% over 18 months &
– $CAD3.75 million to earn an additional 20% over an additional 18 months
- Platina operator of the Joint Venture
- Platina to acquire a 5% interest in Blue Moon Corporation with a 5% share placement of $CAD300,000. Option to go to 10% and board position
Resource
Large resource with attractive grades
- Blue Moon provides exposure to zinc, copper, gold and silver
- Deposit well understood – 43,000m of drilling in ~113 holes
- High-grade, polymetallic, Zn-Cu-Pb-Au-Ag VMS deposit hosted in rhyolite.
- Four lenses of mineralisation have been identified to date
- Potential to expand existing mineral resource.
Drilling
- The 10,000 metre diamond core drilling program will see up to 2,000m (phase 1) drilled before the end of 2019 and the balance in the first quarter of 2020
- We believe there is excellent potential to expand the size of the existing mineral resource.
- Four holes are initially planned for the phase 1 drilling program.
- Once drill core is assayed and logged it will be used for metallurgical test work, and preparing a JORC compliant mineral resource and a Pre-Feasibility Study in the second half of 2020.
