08:48 AM EDT, 06/26/2025 (MT Newswires) -- Blue Moon Metals ( BMOOF ) , which lost 2.6% on Wednesday, awarded a contract to Small Mine Development for the construction of a portal and decline to enable underground mineral exploration activities at the Blue Moon volcanogenic massive sulphide deposit in Mariposa County, California.

A company statement noted that the construction work represents a "significant step forward" for the project's development, as the portal and decline will provide access for infill and exploration drilling, and allow for further studies and investigations related to geology, rock mechanics, underground mining conditions, and metallurgical test work and ultimately to a mine commercialization decision.

The company said that the execution planning and additional engineering work to support construction will begin immediately, followed by the start of portal development in Q3-Q4 of this year.

The company stated that it expects the exploration decline to be complete by the third quarter of 2026, which will include an underground exploration drilling campaign along with additional study work.

"The award of this contract represents a major step forward in the development of the critical metals related Blue Moon Mine," said Blue Moon Metals' ( BMOOF ) Chief Executive Officer, Christian Kargl-Simard. "The ability to access the orebody from underground will greatly accelerate the Company's plans towards a mine commercialization decision, and the minimal footprint at surface allows us to do so in a very responsible manner - both physically and environmentally. We are proud to have SMD as a partner on this significant milestone."