Bluebird Merchant Ventures Limited Gubong Mine Operations Expanded (9416L)
25 July 2017 - 4:00PM
UK Regulatory
TIDMBMV
RNS Number : 9416L
Bluebird Merchant Ventures Limited
25 July 2017
25 July 2017
Bluebird Merchant Ventures Ltd
(the "Company" or "Bluebird")
Gubong Mine Operations Expanded and Community Shows Support
Bluebird Merchant Ventures (EPIC: BMV), the Asian focused
resource development group, is delighted to announce that it has
located a steeply dipping shaft at the top of the old Gubong mine.
Pursuant to the previous announcement on 18 July 2017, preparations
were underway to allow the use of ground penetrating radar (GPR) to
locate the exact position of the original main adit to the Gubong
Mine. These preparations were completed last week and the GPR has
now been put to work.
Whilst work was being undertaken on the ground led by COO,
Charles Barclay, a number of locals visited, some of whom showed us
old plans and photographs of the mine. Later in the week attention
turned to the top of the old mine where we located the shaft.
Management will be assessing what work needs to be undertaken in
order to reopen this shaft as it will provide a main return airway
for mining operations.
Charles Barclay noted "The adit at the top of the mine was
probably one of the main exits for mineral ore and stale air. A
mine needs at least two forms of entry and exit. These can be
vertical shafts, incline shafts, adits and vehicle ramps.
Furthermore, there are three things that need to go into a mine -
people, equipment and fresh air. Four things need to come out -
people, equipment, stale air and mineral ore. As we will initially
be having very few people underground and little equipment, we can
work in natural ventilation which is the same as would be found in
caves. This is the reason we need to have an open airway. The added
benefit is that it will also save us a lot of power costs."
Bluebird will continue to update the market as it makes
operational progress to enter the Gubong mine.
Colin Patterson, CEO, commented that "It is exciting to see the
local community coming out to see the work that we are doing. When
reopening an old mine, information gathering is vital and receiving
old plans and photographs helps with our general assessment of the
potential as well as help target our current work program. Having
the support of the community is most pleasing to see. Our research
has indicated that in the years when the mine was open, the economy
of the Gubong area benefited greatly from the mining operations. It
could be one reason there is a lot of interest in our endeavors at
this time."
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF THE MARKET ABUSE REGULATION EU 596/2014 ("MAR")
Enquiries:
Bluebird Merchant Ventures
Ltd +44 (0)7797 859986
Jonathan Morley-Kirk,
Non-Executive Chairman
SP Angel Corporate Finance
LLP
Ewan Leggat
Small Company Capital
Ltd
Rupert Williams/Jeremy + 44 (0)203 470 0470
Woodgate +44 (0)203 651 2910
Walbrook PR Limited +44 (0)207 933 8783
Gary Middleton / Nick
Rome
This information is provided by RNS
The company news service from the London Stock Exchange
END
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