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.
The remaining deposits still constitute among the largest known deposits of copper in Norway and are expected to contain significant exploration upside. No resources exist as compliant with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”), but the NSG Property has a historical estimate of inferred resources of 29.4 Mt at 0.9% Cu and 0.17% Zn. Precious metals and sulfur have not been assayed but are expected to become a credit. (1)(2)
An NI-43-101 technical report will be announced by the end of April 2025.
(1) As at the date of this news release, a qualified person has not completed sufficient work to classify this historical estimate as current mineral resources or mineral reserves in accordance with NI 43-101, and Blue Moon is not treating the historical estimate as current mineral resources or mineral reserves. In order to verify the historical estimate, the Company needs to engage a qualified person to review the historical data, review any work completed on the property since the date of the estimate, and complete a new technical report. Blue Moon views this historical data as an indicator of the potential size and grade of the mineralized deposits, and this data is relevant to the Company’s future plans with respect to the property.
(2) The effective date of this preliminary internal resource estimate is July 10, 2022, and is contained in the “Sulitjelma – Resource Estimation Memo” prepared by Adam Wheeler, dated July 10, 2022.