Bluejay Mining plc / EPIC: JAY / Market: AIM / Sector: Mining
12 September 2018
Bluejay Mining plc ('Bluejay' or the 'Company')
Dundas Field Work Update
Bluejay Mining plc, the AIM and FSE listed company with projects in Greenland and Finland, is pleased to provide an operational update on the 2018 field programme at its 100% owned, flagship Dundas Ilmenite Project ('Dundas' or 'the Project') in Greenland as it prepares the site for the commencement of mining. The 2018 work programme has successfully advanced bulk sampling for prospective customers, will expand on the existing 96 million tonnes at 6.9% ilmenite (in situ) resource and has significantly developed infrastructure to support commercial production.
Dundas Field-Work Update
Bulk Sampling:
· 10,000t bulk sampling completed (see Figure 2):
o Excavated, screened and stockpiled 10,000 tonnes of ROM grading ±40% ilmenite and currently awaiting delivery instructions for further processing and testing from interested parties.
· Additional samples have, and will continue to be, dispatched in the coming weeks to several key groups for the purpose of testing and supporting ongoing discussions regarding offtakes for up to the entire 450,000t of planned annual ilmenite production.
Drilling/trenching:
· Extensive drilling and trenching programme performed on raised beaches at Iterlak Delta, east of Iterlak Delta and at the foreland west of Iterlak Delta (see Figure 2).
· In total, 68 holes have been drilled with the intention of enhancing the Project resource with ilmenite-rich sediments encountered in all new holes so far:
o 23 holes drilled on Iterlak Delta averaging 12m without the interception of bedrock, as confirmed by new Ground Penetrating Radar survey over the area. Manual trenching programme covering the extent of Iterlak was also completed.
o 45 holes drilled on the raised beach east of Iterlak Delta and at the foreland west of Iterlak Delta in addition to an extensive sediment trenching programme.
· Trenching on raised beaches around Moriusaq was also performed to expand existing resources, improve understanding of geological domains, and for geotechnical investigations.
· Full results are expected later this year:
o All sample material from the sonic drilling and trenching program will be sent to Geolab in Nuuk, Greenland, for Particle Size Analysis (PSA), then to MetSolve Laboratories in Canada for heavy liquid separation and assay
o Drill results expected late Q4 2018.
Regional Exploration:
· Alongside work to determine the resource expansion potential at known target areas, regional exploration for ilmenite sediment and sources has been completed over the full extent of the licence area. This work clearly confirms the presence of ilmenite-rich sediments throughout the area and the presence of the source, in the form of exposed preeminent sills and dykes in the hinterland.
· This exploration work includes assessment of Delta #2, at the eastern extent of the licence boundary, which has geomorphological similarities to Iterlak Delta.
· Hard rock ilmenite sources were also evaluated for their exploration potential, and to understand the depositional environment.
· Results underpin the potential to increase the Project resource and accordingly life of mine even further.
Geotechnical and Surveying:
· Finalised installation of hydrogeology installations around the licence area.
· Installed year-round weather monitoring station, which is now fully operational.
· Expanded existing marine bathymetry survey past Iterlak Delta.
· Completed geotechnical assessments of future infrastructure locations.
Infrastructure:
· Expanded existing year-round accommodation and ablution facilities, including completion of a 30-man container camp.
· Installed a 350m2 (1,750m3) insulated storage/workshop space (see Figure 3).
· Installed a 350kVA power generation facility.
· Established a medical and communications facility as well as upgraded surveying equipment.
· Installed a potable water filtration/distribution system and a waste disposal (incinerator) unit.
· Installed a mobile trommel screener, two mobile stacking units and upgraded the mining fleet to include one 30 tonne excavator, two 30 tonne wheel loaders and two articulated dump trucks.
Human resources and site safety:
· A total of 60 personnel, including employees from the Company, consultants, students from the Greenlandic mining school, Greenlandic contractors and employees, have been on-site during the season.
· The Company continues to enjoy positive engagement with local communities and other stakeholders, with a number of positive meetings held on site during the field season.
Environment:
· Third and final year environmental baseline studies have been completed, which will facilitate the completion of the social impact assessment (SIA) and environmental impact assessment (EIA).
Bluejay CEO Roderick McIllree said, "I am delighted to report that we continue to make excellent progress at Dundas, both at an operational and wider commercialisation level. In particular, I am pleased with the interest being shown from multiple end users, which is testament to the quality of our ilmenite product. We continue to advance with several major players in the space with the objective of locking down agreements for up to the entire 450,000t of planned annual ilmenite production and will update shareholders on developments relating to these discussions as soon as we are in a position to do so.
"Alongside these talks, key works have now been completed to prepare the site for the commencement of mining and we continue to make significant progress in reaffirming the unique resource potential of the Project to ensure a long-life mining operation, as outlined by the initial results of exploration work undertake during the 2018 field seasons."
To view this announcement with the illustrative maps and diagrams please use the following link:
http://www.rns-pdf.londonstockexchange.com/rns/4801A_1-2018-9-11.pdf
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
**ENDS**
For further information please visit http://www.titanium.gl or contact:
Roderick McIllree |
Bluejay Mining plc |
+44 (0) 20 7907 9326 |
Ewan Leggat |
SP Angel Corporate Finance LLP |
+44 (0) 20 3470 0470 |
Soltan Tagiev |
SP Angel Corporate Finance LLP |
+44 (0) 20 3470 0470 |
Andrew Chubb |
H&P Advisory Ltd. |
+44 (0) 207 907 8538 |
Ingo Hofmaier |
H&P Advisory Ltd. |
+44 (0) 207 907 8532 |
Susie Geliher |
St Brides Partners Ltd |
+44 (0) 20 7236 1177 |
Charlotte Page |
St Brides Partners Ltd |
+44 (0) 20 7236 1177 |
Notes
Bluejay is dual listed on the London AIM market and Frankfurt Stock Exchange and primarily focussed on advancing the Dundas Ilmenite Project in Greenland into production in the near term. Dundas has been proven to be the highest-grade mineral sand ilmenite project globally, with a JORC Compliant Resource of 96 million tonnes at 6.9% ilmenite (in situ) and an Exploration Target over the Iterlak Delta of between 20 million tonnes and 60 million tonnes at between 6% and 10% ilmenite (in-situ) (see full Mineral Resource Statement below).
The Company's strategy is focused on securing an offtake partner and commencing commercial production at Dundas in the near term in order to create a company capable of self-funding exploration on current projects and future acquisitions.
Bluejay holds two additional projects in Greenland - the 2,586 sq km Disko-Nuussuaq ('Disko') Magmatic Massive Sulphide ('MMS') nickel-copper-platinum project ('Ni-Cu-PGM'), which has shown its potential to host mineralisation similar to the world's largest nickel/copper sulphide mine Norilsk-Talnakh, and the 107sq km Kangerluarsuk Sed-Ex lead-zinc-silver project ('Kangerluarsuk'), where historical work has recovered grades of 41% zinc, 9.3% lead and 596 g/t silver and identified four large-scale drill ready targets.
The Company also has a 100% interest in a portfolio of copper, zinc and nickel projects in Finland. This multi-commodity portfolio has been restructured to be cost-sustainable whilst determining the best plan for future development.
