TIDMJAY
RNS Number : 3812W
Bluejay Mining PLC
14 November 2017
Bluejay Mining plc / EPIC: JAY / Market: AIM / Sector:
Mining
14 November 2017
Bluejay Mining plc ('Bluejay' or the 'Company')
Permitting Update: Dundas Ilmenite Project Receives Strong
Support
Bluejay Mining plc, the AIM and FSE listed company with projects
in Greenland and Finland, is pleased to provide an update on
permitting developments for the Dundas Ilmenite Project in
Greenland ('Dundas').
Overview
-- Successfully finalised the "Terms of Reference" for both the
Environmental Impact Assessment ('EIA') and Social Impact
Assessment ('SIA')
-- Completed a White Paper, which encompasses the stakeholder consultation response period
-- All documents accepted and approved by the Greenland
Government and the relevant licencing bodies
-- Received a high degree of support from all stakeholders -
highlighted during the process of public consultation and
engagement
-- EIA and SIA now earmarked for completion in Q1 2018 ahead of
commencing production later that year
-- Permitting developments can be seen on the Greenlandic Government portal: http://naalakkersuisut.gl/en/Hearings/Hearing-Archive/2017/Forhoering-for-kommissorier-for-VSB-og-VVM-for-Titaniumprojektet-ved-Pituffik
Bluejay CEO Roderick McIllree said, "Continued progression
through the permitting system marks another key achievement for our
Dundas Ilmenite Project as we continue to execute on our defined
development strategy to build a robust and long life mineral
project. With strong stakeholder and Government support received to
date, we can now advance into the final stages of project
permitting, which together with ongoing feasibility studies, will
culminate in an application for exploitation early next year. We
look forward to keeping shareholders updated with our
progress."
Further Information
In the first half of 2017 Bluejay, alongside Orbicon Arctic A/S
and NIRAS Greenland A/S, conducted workshops with all stakeholders
for Dundas to provide an inclusive summary of the project plans.
Stakeholder feedback was then incorporated into the "Terms of
Reference" for the EIA and SIA.
The guidelines for the EIA and SIA are determined by the
Greenland Mineral Licence and Safety Authority ('MLSA'). Working in
conjunction with the MLSA, the Environmental Agency for Mineral
Resource Activities ('EAMRA'), is the responsible authority
concerning assessments and considerations of all environmental
aspects referring to mineral activities. Following a review process
by both the MLSA and EAMRA, the "Terms of Reference" for both the
EIA and SIA on Dundas were approved.
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.
**S**
For further information please visit http://www.titanium.gl or
contact:
+44 (0) 20 7907
Roderick McIllree Bluejay Mining plc 9326
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SP Angel Corporate +44 (0) 20 3470
Ewan Leggat Finance LLP 0470
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SP Angel Corporate +44 (0) 20 3470
Soltan Tagiev Finance LLP 0470
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St Brides Partners +44 (0) 20 7236
Charlotte Page Ltd 1177
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St Brides Partners +44 (0) 20 7236
Megan Dennison Ltd 1177
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Notes
Bluejay has a number of highly prospective licences at various
stages of development in Greenland and Finland. The Company is dual
listed on the London AIM market and Frankfurt Stock Exchange.
The Company is currently focussed on advancing the Dundas
Ilmenite Project in Greenland, an area that has only recently
revealed its mineral potential following changes in the climate.
Dundas, which with an initial Inferred JORC resource of 23.6Mt at
8.8% ilmenite (in situ), including a high-grade zone equal to 7.9Mt
at 14.2% ilmenite, and significant further upside, has been proven
to be the highest-grade mineral sand ilmenite project globally.
Dundas comprises three main target areas along an >40km
coastline historically proven to contain large and high-grade
accumulations of primary ilmenite occurring as placer deposits in
the following environments:
-- Raised beaches; containing ilmenite accumulations over widths
of more than 1km, of unknown depths, along more than 30km of
coastline;
-- Active beaches; which refer to the area seaward of the
frontal dunes, including the beach, tidal zones and surf zone;
and
-- Drowned beaches; refers to the areas seaward of active beaches.
The Company's strategy is focused on the production of a bulk
sample "proof of concept" from the Dundas Ilmenite Project in 2017
with the aim of ultimately generating cash flow to create a company
capable of self-funding exploration on current projects and future
acquisitions.
Bluejay also holds a 100% interest in a portfolio of copper,
zinc and nickel projects in Finland. This multi-commodity portfolio
remains a strategic asset of importance and has been restructured
to be cost-sustainable whilst determining the best plan for future
development.
Dundas Mineral Resource Estimate
The Dundas mineral resource estimate has been prepared by SRK
Exploration Services ('SRK') and is broken down into three
components:
-- An Inferred resource of 23.6Mt at 8.8% ilmenite (in situ) for the total area tested
-- This includes a high-grade zone equal to 7.9Mt at 14.2%
ilmenite (in situ) at Moriusaq which is the focus of the
feasibility and production studies that are currently underway
-- A larger exploration target for the area, primarily
encompassing potential mineralisation below and inland from the
current drilling, of between 90Mt to 130Mt at an in-situ grade of
between 6.3% and 8.4% ilmenite
SRK has produced a Mineral Resource Estimate for the Dundas
onshore raised beaches target that forms part of Bluejay's
exploration licence in Northwest Greenland (licence number
2015/08). This is the maiden Mineral Resource Estimate produced for
the licence. The Mineral Resource Estimate report prepared by SRK
will be made available during Q2 2017.
The Mineral Resource Estimate is based on all valid data
available as at 1 March 2017. A volume of the raised beaches has
been modelled which encompasses the drilled portion of these areas
with a maximum depth limit set at 3 metres below ground level. The
model covers a surface area of approximately 5km by up to 0.9km.
The model was incorporated into a three-dimensional block model and
the in situ titanium dioxide ('TiO2') grade and percent recoverable
heavy mineral content were interpolated using an inverse distance
weighted ('IDW') algorithm.
SRK considers that all the delineated mineralisation has
reasonable prospects for eventual economic extraction and the
Mineral Resource Statement has been reported at a 0% cut-off grade
using the terminology and guidelines set out in the JORC 2012
Code.
Table 1: JORC Mineral Resource Statement for Dundas Onshore
Target, April 2017
Classification Volume Tonnage Density % THM % >2mm % >5mm % <63um % TiO(2) % TiO(2) % Ilmenite
(M.m(3) (M.t) (t/m(3) In In-situ In-situ
) ) HM
--------------- -------- ------- -------- ----- ------ ------ ------- -------- -------- ----------
Inferred 11.2 23.6 2.12 34.5 29.0 21.8 2.5 12.0 4.2 8.8
--------------- -------- ------- -------- ----- ------ ------ ------- -------- -------- ----------
(1) The effective date of the Mineral Resource is April 6th, 2017
(2) The numbers are presented at a 0% cut-off grade
(3) "THM" and "HM" mean Total Heavy Minerals and Heavy Minerals respectively
(4) HM have been separated from a -2 mm +63 um size fraction
using heavy liquid separation at a density of 2.95 g/cm(3)
(5) Preliminary mineralogical assessments suggest that the HM
typically comprises 26.76% ilmenite and that there are no other
valuable HM present. Additional mineralogical data is expected
during April 2017
(6) % TiO(2) in-situ assumes that all recoverable TiO(2) is in
the HM component of the -2 mm +63 um size fraction
(7) % Ilmenite In-situ assumes that all TiO(2) is within
ilmenite and that the ilmenite contains 47.65% TiO(2) , based on
historical exploration data
SRK has also produced a Mineral Resource Statement has been
reported at a 5% in-situ TiO(2) cut-off grade using the terminology
and guidelines set out in the JORC 2012 Code.
Table 2: JORC Mineral Resource Statement for Dundas Onshore
Target, April 2017. 5% in-situ TiO(2) cut-off grade applied.
Classification Volume Tonnage Density % THM % >2mm % >5mm % <63um % TiO(2) % TiO(2) % Ilmenite
(M.m(3) (M.t) (t/m(3) In In-situ In-situ
) ) HM
--------------- -------- ------- -------- ----- ------ ------ ------- -------- -------- ----------
Inferred 3.7 7.9 2.12 44.3 22.2 16.7 2.1 15.3 6.8 14.2
--------------- -------- ------- -------- ----- ------ ------ ------- -------- -------- ----------
(1) The effective date of the Mineral Resource is April 6th, 2017
(2) The numbers are presented at a 5.0% in-situ TiO(2) cut-off grade
(3) "THM" and "HM" mean Total Heavy Minerals and Heavy Minerals respectively
(4) HM have been separated from a -2 mm +63 um size fraction
using heavy liquid separation at a density of 2.95 g/cm(3)
(5) Preliminary mineralogical assessments suggest that the HM
typically comprises 26.76% ilmenite and that there are no other
valuable HM present. Additional mineralogical data is expected
during April 2017
(6) % TiO(2) in-situ assumes that all recoverable TiO(2) is in
the HM component of the -2 mm +63 um size fraction
(7) % Ilmenite In-situ assumes that all TiO(2) is within
ilmenite and that the ilmenite contains 47.65% TiO(2) , based on
historical exploration data
SRK is of the opinion that there is a high probability that a
proportion of this currently reported Inferred Mineral Resource can
be upgraded to the Indicated category following additional
exploration. Further, SRK considers that there is a high
probability that the raised beaches hosting this Mineral Resource
extend both at depth and laterally along the shoreline within
Bluejay's licence area. The licence area includes a 30 km length of
raised beaches and deltas and Bluejay has demonstrated
mineralisation in several places in addition to the area covered by
the Mineral Resource presented here.
In addition to the Mineral Resource Statement, SRK has derived
an Exploration Target which is planned to be tested by the Company
in the next field season. The Exploration Target tonnage range
reflects SRK's opinion that the mineralization has potential to be
continuous between 9m and 12m below surface (SRK's Mineral Resource
estimate has been restricted to 3m) which is based on a limited
amount of outcrop exposure. In summary, it comprises potential
mineralisation below the depth currently drilled. The exploration
grade range is based on the grade of the overlying Mineral
Resource.
SRK's Exploration Target is between 90Mt and 130Mt with an
in-situ TiO2 grade of between 3% and 4% (assumed to be between 6.3%
and 8.4% ilmenite) and a heavy mineral content of between 30% and
34% of which between 10% and 12% will comprise TiO2 (assumed to be
between 21% and 25% ilmenite). It should be noted that this is an
estimated range of tonnes and grade and is conceptual in nature,
that there has been insufficient exploration to estimate a Mineral
Resource and that it is uncertain if further exploration will
result in the estimation of a Mineral Resource.
Qualified Persons
The information in this press release that relates to Mineral
Resources is based on information compiled under the direction of
Dr Mike Armitage C Geol., C Eng., who is a Member of the Institute
of Materials, Minerals and Mining which is a Recognised Overseas
Professional Organisation ('ROPO') included in a list promulgated
by JORC from time to time.
Dr Armitage is a full-time employee of SRK Consulting (UK) Ltd
and has sufficient experience which is relevant to the style of
mineralisation and type of deposit under consideration and to the
activity which he has undertaken to qualify as a Competent Person
as defined in the 2012 Edition of the 'Australasian Code for
Reporting of Exploration Results, Mineral Resources and Ore
Reserves' (the JORC Code) and for the purposes of the AIM Rules. Dr
Armitage has reviewed this press release and consents to the
inclusion in the press release of the matters based on his
information in the form and context in which this appears.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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