NSG, Norway – Blue Moon Metals

NSG, Norway

NSG

Overview

Located in Nordland county, Norway, the NSG Property is set to become one of the first producing copper mines in the country in over 50 years. The NSG Property is one of the most geological prospective areas in the country from a historical perspective, with the Sulitjelma having hosted the largest mining operation in the country.

Mineralization in the NSG Property is spatially associated with the Ordovician Sulitjelma ophiolite complex, which belongs to the Køli Nappe of the Upper Caledonian Allochthon, and is characterized as a Cyprus-type VMS deposit. Both, ore bodies and their host rocks, were exposed to deformation processes and recrystallization during the cycle of metamorphism and tectonic transport caused by the Caledonian orogeny. The most dominant ore bearing phases are chalcopyrite and sphalerite.

Table 1. Sulitjelma Constrained Resource Evaluation Statement (April 10th, 2025)

Figure 1. Sulitjelma Regional Geology Map

Geology – Mineralization

Rupsi/Dypet

The Rupsi/Dypet deposit is interpreted to correlate with the Hankabakken level and is the northwesternmost deposit in Sulitjelma. The mineralization is characterized by various styles such as massive and semi massive sulphides, disseminations and veins (stringers) within a chlorite-biotite rich hydrothemal breccia. Two-fold phases have formed a recumbent elongated antiform with ore enrichment in the fold hinge zone. In terms of alteration, the Rupsi deposit manifests also an abnormal enrichment in potassium relative to the surrounding strata. The K feldspar-biotite-chlorite ± albite core is enveloped by a more typical chloritic alteration zone characterized by an increasing Fe/(Fe d- Mg) ratio away from the deposit.

Hankabakken

The Hankabakken mine was worked on two different ore bodies, Hankabakken I and II. Hankabakken II is a blind deposit, located some 500 m NW from Hankabakken I. The thickness of the ore bodies was generally 3 m-5 m and commonly exhibited increasing Cu-content towards the hanging wall.

Sagmo

In the Sagmo deposit, Cu is markedly enriched toward the footwall of the orebody and there is some evidence of Zn and Pb being enriched toward the hanging wall. This may suggest that this orebody is not inverted. Considerable change in the Cu/Zn/Pb ratios of various rock types is also borne out by the associated alteration lithologies. The biotite schists immediately subjacent to the massive ore plot tightly into the Cu corner of the Cu-Zn-Pb ternary diagram. The massive ore is slightly Zn rich. The disseminated host rocks contain a large component of laterally dispersed sulphides that fill a broad area with Cu/Zn ratios ranging between 75:25 to 10:90. Chlorite schists distant to the ore contain appreciably more Zn than Cu, whereas amphibolites which have been leached of Cu but only minimally of Zn show Zn enrichment.

The following select, historic drilling results are significant intersections (reported in apparent true thickness) from either surface or underground drilling results from the deposits that comprise Sulitjelma project:

Rupsi deposit (surface drilling)

DH-RD-OLD-010 with 19.30 m @ 1.05% Cu, 0.64% Zn & 8.0g/t Ag from 721.00m

including 7.00 m @ 2.27% Cu, 1.52% Zn & 17.2g/t Ag from 721.00m

DH-RD-OLD-012 with 47.10 m @ 0.54% Cu, 0.13% Zn from 752.00m

including 12.00 m @ 0.82% Cu & 0.06% Zn from 790.00m

DH-RD-OLD-001 with 3.42 m @ 4.03% Cu & 0.22% Zn from 393.35m

DH-RD-OLD-001 with 9.40 m @ 1.39% Cu & 0.15% Zn from 485.20m

DH-RD-OLD-004 with 11.40 m @ 1.23% Cu & 0.23% Zn from 547.50m

DH-RD-OLD-008 with 3.20 m @ 6.82% Cu & 0.85% Zn from 625.00m

Hankabakken deposit (underground drilling)

DH-HK-OLD-123 with 8.60 m @ 1.30% Cu, 0.02% Zn

DH-HK-OLD-300 with 11.70 m @ 1.21% Cu, 0.07% Zn

DH-HK-OLD-306 with 10.10 m @ 1.13% Cu, 0.06% Zn

Sagmo deposit (underground drilling)

DH-SG-OLD-30 with 6.20 m @ 1.42% Cu & 0.11% Zn

DH-SG-OLD-34 with 9.40 m @ 1.69% Cu & 0.00% Zn

DH-SG-OLD-36 with 15.80 m @ 1.60% Cu & 0.24% Zn