TSX-V- and Nasdaq-listed Blue Moon Metals has acquired a portfolio of 33 tungsten and antimony projects in the western US region, all of which are close to the company's Springer Complex, in Nevada.

The projects are generally located in the most prolific tungsten and antimony producing districts in the US, with historical production on or next to almost all of the projects.

Blue Moon is acquiring the projects on a 100% ownership basis from a private owner on an arms-length basis and consist of Bureau of Land Management and US Forest Service land, with holding costs for the portfolio being about $162 000/y.

The acquisition consideration consists of 2.8-million Blue Moon shares issued at a total price of $15.5-million, as well as a 1% net smelter return royalty on each of the projects. There is also a $5-million cash consideration, with 50% of it being due on closing of the acquisition and the balance on the first anniversary of the closing date, as well as development payments based on the grade of the first delineated inferred resource within 15 years of the closing date.

According to Blue Moon US special projects head Jason Dunning, the acquisition marks a meaningful step in the company's strategy to build a leading US-focused critical metals platform.

"The portfolio represents a compelling collection of tungsten and antimony projects in the US at a time when domestic sources are increasingly important. Many of these projects historically produced high-grade antimony and tungsten, including reported tungsten grades of up to 14% tungsten trioxide, during periods of major strategic demand, including World War I, World War II, the Korean War and the Vietnam War.

"Since that time, the projects have seen very limited modern work, creating what we believe is a significant opportunity for Blue Moon to apply a disciplined, modern approach across a historically important package of assets," Dunning adds. 

While tungsten was the focus of the historical work, it should be noted that tungsten mineralization may also provide important indications for copper and gold exploration potential.

In this regard, Blue Moon intends to methodically advance several of these projects with a focus on leveraging the Springer Complex in Nevada for potential processing, while seeking to unlock value from the broader portfolio through future monetization opportunities.

Blue Moon considers four of the 33 projects to be high priority for direct shipping high-grade tungsten ores to the Springer Complex. The company anticipates hiring a team to manage these projects and advance drilling over the next two years.

The transaction also marks Blue Moon's foray into antimony - there are at least five projects that historically were found to be high-grade prospects of antimony.