Bluejay Mining PLC Submission of Pre-Feasibility Study (3000B)
June 06 2019 - 2:00AM
UK Regulatory
TIDMJAY
RNS Number : 3000B
Bluejay Mining PLC
06 June 2019
Bluejay Mining plc / EPIC: JAY / Market: AIM / Sector:
Mining
6 June 2019
Bluejay Mining plc ('Bluejay' or the 'Company')
Permitting Update - Submission of PFS
Bluejay Mining plc, the AIM and FSE listed company with projects
in Greenland and Finland, is pleased to announce the submission of
the Pre-Feasibility Study ('PFS') for its Dundas Ilmenite Project
('Dundas' or 'the Project') in Greenland, the world's highest-grade
mineral sands ilmenite project.
Overview:
-- Submission of the completed PFS for Dundas to Mineral Licence
and Safety Authority, Government of Greenland ('MLSA')
-- Lodgement marks completion of the final module necessary to
facilitate an exploitation application
The PFS was presented to the MLSA on Wednesday 5(th) June 2019.
It was managed by SRK Exploration UK ("SRK") in cooperation with
Wood plc (formerly AMEC Foster Wheeler), IHC Robbins and overseen
by Bluejay's in-house technical team.
The PFS forms the most important cornerstone in the application
for an exploitation permit for Dundas. Its completion allows the
Greenlandic authorities to understand the proposed development
including site layout and mining technique, as well as the economic
consequences that come from exploitation of the ilmenite-bearing
sand within the licence area.
The submitted PFS, which includes the mineral reserve and mine
plan, focusses on the onshore mining opportunity, the anticipated
processing and associated infrastructure. The study has been
completed based on a yearly production of 440,000 tonnes of
ilmenite concentrate from the Project. The impact benefit agreement
is expected to be negotiated in parallel to the application
assessment.
The Company will update the market of the key points of the PFS,
taking into account commercial sensitivities, once the entire
report has been condensed and prepared into a market releasable
format.
Bluejay CEO Roderick McIllree said: "The lodgement of this PFS
marks the completion of the final module necessary to make an
exploitation application and we expect to make this as soon as
regulatory comments have been responded to. We are delighted to
have completed and submitted this detailed document to the
regulators. The conclusions drawn from this study indicate positive
economic outcomes and low environmental impact, with strong social
benefits. We will update the market in due course with details of
the PFS and its outcomes."
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 www.titanium.gl or
contact:
Roderick McIllree Bluejay Mining plc +44 (0) 20 7907 9326
SP Angel Corporate Finance
Ewan Leggat LLP +44 (0) 20 3470 0470
---------------------------- ---------------------
SP Angel Corporate Finance
Soltan Tagiev LLP +44 (0) 20 3470 0470
---------------------------- ---------------------
Hannam & Partners Advisory
Andrew Chubb Ltd. +44 (0) 20 7907 8538
---------------------------- ---------------------
Hannam & Partners Advisory
Ingo Hofmaier Ltd. +44 (0) 20 7907 8532
---------------------------- ---------------------
Hugo de Salis St Brides Partners Ltd +44 (0) 20 7236 1177
---------------------------- ---------------------
Cosima Akerman 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 117
million tonnes at 6.1% ilmenite and a maiden offshore Exploration
Target of between 300Mt and 530Mt of ilmenite at an average
expected grade range of 0.4 - 4.8% ilmenite in-situ.
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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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