NEW YORK, October 3, 2017 /PRNewswire/ --
According to a research report by MarketsandMarkets the size of zinc oxide industry is projected to reach USD 4,184.5 million by 2020 in terms of value and growing at a CAGR of 5.4%. The zinc oxide market is segmented into seven applications, namely, rubber, ceramics, chemicals, pharmaceuticals, cosmetics & personal care, agricultural, and others. The Asia-Pacific market accounts the largest share of the zinc oxide industry. The region is backed by increasing demand of tire and other rubber products from end-user industries, such as automotive and industrial. North America was the second-largest market for zinc oxide and is expected to get support from increasing tire sales with the recovering automotive industry. Blue Moon Zinc Corp. (OTC: BMOOF), Trevali Mining Corp. (OTC: TREVF), Ivanhoe Mines Ltd. (OTC: IVPAF), Nevsun Resources Ltd. (NYSE: NSU), Lundin Mining Corp. (OTC: LUNMF).
"One trend in the market is increasing use in semiconductor industry. The growing demand for zinc oxide in the production of varistors, ferrites, and solar cells is expected to propel the growth of the global zinc oxide market in the forecast period. Global sales of semiconductor reached more than $325 billion in 2016 and are expected to grow during the forecast period, which will drive the demand for zinc oxide," an analyst from Technavio's team explained.
Blue Moon Zinc Corp. (OTC: BMOOF) is also listed on the TSX Venture Exchange under the ticker symbol "MOON". Just earlier today the company announced breaking news that, "a Mineral Resource update for its 100% owned Blue Moon zinc deposit. The deposit now comprises 3.7 million tons in the Indicated Mineral Resource category grading 8.3% zinc equivalent ("ZnEq") and 4.1 million tons of Inferred Mineral Resources grading 7.8% ZnEq, both at a 4.0% ZnEq cut-off grade.
Patrick McGrath, Chief Executive Officer, stated, "The updated Mineral Resource contains an estimated 377 million pounds of zinc in the Indicated Mineral Resource category and a further 395 million pounds of zinc in the Inferred Mineral Resource category, both at a conservative 4.0% ZnEq cut-off grade. The Mineral Resource update coupled with prior metallurgical testing by Lakefield Research in 1998 (now SGS) which indicated excellent recovery and a clean concentrate, gives us confidence to proceed with the Preliminary Economic Assessment of the Blue Moon deposit."
There is a high likelihood the deposit continues at depth as the mineralized zones are near vertical and the deepest holes in the resource end in mineralization. Several historical exploration holes drilled below the resource intersected significant zinc grades. Blue sky potential also exists along strike to find another "Blue Moon" style deposit as polymetallic massive sulphide deposits are often found in pods or clusters. IP and soil anomalies along strike indicate there's a high probability further polymetallic deposits exist within the Company's mineral rights. The Company expects to commence a drilling program in 2018.
The Mineral Resource is based on 1,540 assay results from 82 diamond drill holes, totaling 111,250 feet (33,900 meters) of drilling. Zinc Equivalents (ZnEq) The Mineral Resource has been stated in terms of ZnEq. The ZnEq formula and the underlying parameters used in its formulation are set out below.
The metal prices and the recoveries selected represent reasonable estimates of long term metal prices and potential recoveries of metal in concentrate. The Mineral Resource estimate is summarized above at a range of ZnEq cut-off grades. The equation to calculate ZnEq is as follows: ZnEq = (Zn%*24.70 + Cu % * 55.80 + Pb% * 19.00 + Ag(oz/t) * 11.05 + Au(oz/t) * 875.00) / 24.70
Qualified Persons - The Qualified Person ("QP") for the Mineral Resource estimate is Gary Giroux, P.Eng., who is independent to the Company. The Mineral Resource estimate has been prepared under the guidelines of National Instrument 43-101 ("NI 43-101") for reporting of Mineral Resources. A technical report on the new resource estimate will be filed on SEDAR at http://www.sedar.com and on the Company's website at http://www.bluemoonmining.com within 45 days of the issuance of this press release. The co-author of the NI 43-101 is Lawrence O'Connor, a QP. Mr. Lawrence is a technical advisor to the Company and is not considered independent. Mr. Giroux and Mr. O'Connor have reviewed the scientific and technical information that forms the basis for this press release.
Trevali Mining Corp. (OTCQX: TREVF) is a zinc-focused, base metals mining company with four commercially producing operations. The Company is actively producing zinc concentrates from its wholly-owned Santander mine in Peru, the wholly-owned Caribou mine in the Bathurst Mining Camp of northern New Brunswick, its 80% owned Rosh Pinah mine in Namibia and its 90% owned Perkoa mine in Burkina Faso. On August 31, 2017, the company announced it has completed the acquisition of a portfolio of zinc assets from Glencore PLC, and certain of its subsidiaries, including an 80% interest in the Rosh Pinah mine in Namibia, a 90% interest in the Perkoa mine in Burkina Faso, an effective 39% interest in the Gergarub project in Namibia, an option to acquire 100% interest in the Heath Steele project in Canada including certain related exploration properties and assets.
Ivanhoe Mines Ltd. (OTCQX: IVPAF) is advancing its three principal projects in Southern Africa: Platreef Project, Kamoa-Kakula Project, Kipushi Project. The Kipushi Project is based on the high-grade, underground zinc-copper mine in the Central African Copperbelt, which mined approximately 60 million tonnes grading 11% zinc and 7% copper between 1924 and 1993. Excellent progress has been made by KICO in modernizing the Kipushi Mine's underground infrastructure as part of preparations for the mine to resume commercial production. With the underground upgrading program nearing completion, KICO's focus now will shift to modernizing and upgrading Kipushi's surface infrastructure to handle and process Kipushi's high-grade zinc and copper resources.
Nevsun Resources Ltd. (NYSE: NSU) is the 100% owner of the high-grade copper-gold Timok Upper Zone and 60% owner of the Timok Lower Zone projects in Serbia. Nevsun generates cashflow from its 60% owned copper-zinc Bisha Mine in Eritrea. Nevsun's diverse activities include production from the Bisha copper-zinc mine in Eritrea and key growth from the high-grade world class Timok copper-gold project in Serbia. Bisha, a high grade open pit mine generates revenue from both copper and zinc concentrates containing gold and silver by-products.
Lundin Mining Corp. (OTC: LUNMF) is a diversified Canadian base metals mining company with operations in Chile, the United States of America, Portugal, and Sweden, primarily producing copper, nickel and zinc. On September 5, 2017, the company reported its Mineral Resource and Mineral Reserve estimates as at June 30, 2017. On a consolidated and attributable basis, contained metal in the Proven and Probable Mineral Reserve categories totaled 3,232 kt of copper, 3,415 kt of zinc and 130 kt of nickel. Zinc Proven and Probable Mineral Reserves have increased to 30.4 Mt at 7.7% Zn from 23.4 Mt at 7.2% Zn reported as of June 30, 2016, reflecting approval of the Zinc Expansion Project. At Zinkgruvan, the zinc Proven and Probable Mineral Reserves have increased to 11.9 Mt at 7.2% Zn and 2.9% Pb and copper Proven and Probable Mineral Reserves have increased to 5.3 Mt at 1.8% Cu.
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