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Platina Resources Earns 70% Stake in Blue Moon Zinc Project

Mining News - Published on Fri, 30 Aug 2019

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Platina Resources Limited has entered into a joint venture agreement to earn up to a 70% interest in and become operator of the Blue Moon Zinc Project in the United States. The acquisition fits with the Company's core expertise and experience in advancing projects through drilling, feasibility and development.

Attractions of the Project include:

1. Significant valuation upside - Drill-ready, brownfield project with a large sunk cost and potential share price re-rating as it moves along the value curve by completing drilling and evaluation studies - see Figure 1 in link below.

2. Large, well-defined Mineral Resource - The Blue Moon Mineral Resource is a high-grade, zinc-copper rich massive sulphide deposit with gold and silver precious metal credits (see Table 1, link below). The mineralisation remains open to surface, depth and along strike.

3. Attractive grades - A 2018 drilling program intersected some of the highest grades ever intersected on the Project, including drill hole BMZ-78 which intersected:
- 36.5 metres at 9.45% zinc, 0.58% copper, 1.1 g/t gold and 42.9 g/t silver, including:
- 9.35m grading 30.3% zinc, 1.7% copper, 1.67 g/t gold and 71 g/t silver.

4. Drill ready - Planned, 10,000 metre infill and expansion drilling program ready to proceed. Program to initially target extensions of drill hole BMZ-78 followed by further infill and resource expansion drilling.

5. Right commodities, right time - The Project will provide Platina shareholders with exposure to a commodity suite that have attractive supply and demand fundamentals.

6. Favourable location - The Project is situated 150km from an export port facility and 1km from power sourced from hydroelectric generation. The project will not be subject to any state royalties.

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Posted By : Rabi Wangkhem on Fri, 30 Aug 2019
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