Blue Moon Announces Initial Results from Ongoing Infill Drilling Campaign at its Nussir Project and Further Deep Drilling Exploration Results
Blue Moon’s Nussir infill results confirm the grade model while deep step-out drilling adds continuity to the deposit.
Blue Moon Metals Inc. (MOON) has released initial assay results from 12 surface infill diamond drill holes at its Nussir copper-gold-silver project in Norway, covering a total of 2,629 meters. These infill holes targeted a 700-meter strike length of the Indicated Resource located near the planned initial production zone. All holes except one intersected mineralization above a 0.30% copper cutoff.
Highlight intercepts include 1.6 m @ 1.93% Cu, 0.15 g/t Au, 20.2 g/t Ag (2.20% CuEq) in hole NUS-DD-26-02; 3.0 m @ 1.19% Cu in NUS-DD-26-03; and a thin high-grade inclusion of 0.8 m @ 3.59% Cu. Additionally, one deep exploration hole on the western limb, NUS-DD-26-07, returned 3.7 m @ 1.39% Cu (1.56% CuEq) at approximately 1.2 km depth, confirming continuity between prior deep intersections and the resource.
The copper equivalent (CuEq) formula used is CuEq% = Cu% + 0.00781·Ag_g/t + 0.74·Au_g/t, based on disclosed metal prices and recovery rates of 96% for copper, 80% for silver, and 93% for gold.
Blue Moon Metals Inc. (MOON) is an advanced developer with its Nussir project fully permitted and under construction, targeting production by the fourth quarter of 2027. The project’s value is driven by feasibility-study economics rather than greenfield discovery.
Recent infill results confirm resource grade and continuity to support mine design, aligning with market expectations. These results do not materially expand the resource base or improve the mine plan. A deep step-out result serves as a continuity ping but is too narrow and of modest grade to add significant ounces or tonnes. The market had already priced in a large, deep deposit following prior high-grade hits at depth.
The stock price had fallen from approximately $11.5 in early June to $8.17 before the news, indicating a broad sell-off unrelated to this single release. These results are unlikely to reverse the trend.
Blue Moon Metals Inc. (MOON) is an emerging critical-metals producer currently advancing its flagship Nussir copper-gold-silver project in Norway. The company has reached a final investment decision on the project, with first production targeted for the fourth quarter of 2027. Beyond Nussir, Blue Moon Metals holds other assets including the Blue Moon VMS project in California, the Springer tungsten mill and mine in Nevada where a restart is planned for Q4 2027, the Apex germanium-gallium mine in Utah, and a consolidated interest in the Sulitjelma district in Norway.
Financially, the company has secured a $140M project finance package with Hartree/Oaktree and recently raised C$156M in equity. According to the Nussir feasibility study, the project demonstrates an after-tax NPV of $235M at an 8% discount rate and a 19% internal rate of return, supporting a 13-year mine life.