Liberty Gold Sells Utah Critical Minerals Project to Blue Moon

Liberty Gold (TSX:LGD,OTCQX:LGDTF) has agreed to sell its Gage project in southern Utah to Blue Moon Metals (NASDAQ:BMM), shifting its focus away from non-core assets while giving Blue Moon a larger foothold in a strategic US critical minerals district.

The deal will see Liberty Gold receive 420,935 shares of Blue Moon Metals valued at about US$2 million along with a 2 percent net smelter return (NSR) royalty on future production from the project. Blue Moon retains the option to repurchase half of that royalty for US$2 million prior to commercial production.

Liberty Gold said the copper-gallium-germanium asset had been identified as non-core following a strategic review launched late last year.

For Blue Moon, the acquisition expands its land position around the nearby Apex Mine, historically the only primary germanium and gallium producer in the western world.

The company said the addition of Gage strengthens its control over what it considers a key North American district for those critical metals.

“[Following] the acquisition of the Apex Mine from Teck Resources (TSX:TECK.A,TECK.B,NYSE:TECK) that closed on March 16, 2026, this acquisition bolsters our land position around the mine and control of what we believe to be the most important germanium and gallium district in North America,” said Blue Moon CEO Christian Kargl-Simard.

The Gage project includes 181 unpatented mining claims and two state leases covering roughly 5,900 hectares. The property lies along a mineralized belt stretching more than five kilometers and includes multiple historic mines and exploration targets.

Blue Moon said the project shares geological similarities with the Apex Mine, including breccia pipe structures associated with germanium and gallium mineralization.

While past exploration has been limited, the company sees potential for further discovery through modern techniques such as geophysical surveys and deeper drilling.

Under the terms of the agreement, Blue Moon will acquire the project free of most encumbrances, aside from an existing royalty tied to state-managed lands.

The company is also advancing a portfolio of polymetallic projects across the US and Norway, including assets containing copper, zinc, tungsten, and precious metals.

For Liberty Gold, the divestment aligns with its ongoing effort to streamline its asset base and focus capital on core gold projects. The company has been evaluating options for non-core holdings since late 2025.

Closing of the deal remains subject to regulatory approvals, including clearance from the TSX Venture Exchange, and is expected within 30 days.

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Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.