Blue Moon Hits 7.84% WO3 — Second-Highest Grade at Springer Tungsten
BMM has more than doubled off its 52-week low of $2.2.
Summary
Blue Moon reported a new high-grade tungsten intercept of 7.84% WO3 at Springer, the second-highest grade to date, plus a new mineralized interval in NM-45. The company also granted 150,000 options to consultants.
Key Events · Product Development and Regulatory · BMM
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High-Grade Tungsten Intercept
Drillhole NM-30 returned 0.3 m grading 7.82% WO3 from 183.5 m — the second-highest assay in Springer drill core and the highest in the East Sutton Beds.
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New Mineralized Interval in NM-45
Re-assay confirmed 9.44 m grading 0.26% WO3 and identified a new down-dip interval of 0.18% WO3 over 3.8 m at 372.1 m depth.
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Follow-Up Drilling Planned
The high-grade NM-30 intercept is not yet included in skarn lens modeling and will be followed up by new drilling this year.
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Options Grant to Consultants
150,000 incentive stock options granted at C$6.99 exercise price, vesting over three years.
Analysis · BMM · Energy & Transportation
The 7.84% WO3 intercept over 0.3 m is the second-highest grade ever drilled at Springer and the highest in the East Sutton Beds, confirming high-grade tungsten mineralization in a zone not previously sampled. This strengthens the resource case for the Springer project, which is already backed by a US$150–175M financing package announced September 14. The options grant to consultants is routine compensation and does not change the investment thesis.
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At the time of this filing, BMM was trading at $4.80 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $429.2M. The 52-week trading range was $2.20 to $8.63. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.