TIDMJAY
RNS Number : 1413I
Bluejay Mining PLC
22 November 2018
Bluejay Mining plc / EPIC: JAY / Market: AIM / Sector:
Mining
22 November 2018
Bluejay Mining plc ('Bluejay' or the 'Company')
Dundas Permitting Update
Bluejay Mining plc, the AIM and FSE listed company with projects
in Greenland and Finland, is pleased to provide a permitting update
on its flagship asset the Dundas Ilmenite Project ('Dundas' or 'the
Project') in Greenland, the world's highest-grade mineral sands
ilmenite project.
-- Environmental Impact Assessment ('EIA') three-year field work studies are now complete
-- Social Impact Assessment ('SIA') data collection and
collation to be completed January 2019 - high degree of support
received to date from all stakeholders
-- The Company will now submit these technical reports in
preparation for the final EIA submission to the relevant
authorities for review
-- Optimised Pre-Feasibility Study ('PFS') continues and is on track for completion Q1 2019
-- Exploitation application will be lodged soon thereafter
-- Additional developmental updates expected before year end
Bluejay CEO Roderick McIllree said, "We are extremely pleased
with the findings of both the EIA and SIA studies at Dundas. These
reports are an integral part of the permitting process, and along
with the PFS, these multiyear assessments are expected to
demonstrate the simple and increasingly uncontroversial nature of
our proposed operation. This, together with the revised
optimisations, will strengthen the already compelling economics of
the Project and will provide further confirmation of an
economically attractive high-grade ilmenite operation.
"We have been working with the Government in setting the
standard for resource development in Greenland, the benefit of
which will be realised from the extended assessment process. This
lengthened study period has enhanced the understanding of Dundas
and pre-empted any stakeholder concerns. This should translate into
a high degree of support for the Project, which is expected to
constitute a new and sustainable operation that will benefit all
stakeholders.
"With the final submission and publication of the EIA and SIA in
the coming months and the completion of an optimised PFS next
quarter, we are now in the final stages of permitting. Although the
field season is now concluded, we anticipate additional updates for
shareholders before year-end which will further demonstrate the
attractiveness and value of the world's highest-grade ilmenite sand
project."
Environmental Impact Assessment
All environmental fieldwork and data collation for the EIA has
been completed. The studies and the EIA were carried out by Orbicon
Arctic A/S ('Orbicon'), which has strong expertise in environmental
studies and permitting related to mining operations in Greenland.
The EIA related activities concluded three years of continuous
environmental investigations, which under normal conditions usually
only require two-years of sample collection and baseline survey.
Due to the limited existing understanding of the biosphere in this
environment and also to consider the natural variation year on
year, both the Company and regulators agreed best practice would be
to undertake surveys over a three-year period. This is anticipated
to assist in the assessment of the application and approval
process.
The environmental field work for the EIA, carried out both on
land and off shore, included extensive studies of the biodiversity
of the development area. The land activities included mapping of
plant communities and breeding bird colonies, extensive off shore
aerial surveys during the spring thaw and winter freeze. These
focussed on monitoring migrating white whale, narwhale and walrus
along the west coast. Additionally, the seafloor was subject to
extensive studies including sampling of mussels and other seafloor
organisms as well as underwater video footage.
To determine the natural background level of metals and other
elements in organisms in the development area, samples of plants,
lichens, sea weed, and fish were collected, which will form a
reference for future monitoring when mining commences.
During the re-scoping of the processing method, which came about
through extensive dialogue with both logistic providers as well as
potential customers, the EIA studies were amended to include these
optimisations.
These amendments were completed in close dialogue with the
Greenlandic Authorities represented by the Mineral Licence and
Safety Authority, the Environmental Agency for Mineral Resource
Activities and its advisors, Greenland Institute of Natural
Resources and the Danish Centre for Environment and Energy.
An Archaeological survey over the licence area was also
completed during the 2018 season; the results of which will be
included in the final EIA report. This survey was undertaken by the
Greenland National Museum & Archives.
All the collected information has subsequently been analysed
with results currently being documented in technical background
reports. The technical components of these studies will shortly be
submitted to the Greenland authorities for review.
The completion of these studies and the information derived from
them indicate limited environmental concerns from what is a simple
gravity separation process.
Social Impact Assessment
The studies relating to the SIA process have been undertaken by
NIRAS Greenland A/S ('Niras'). Niras have a deep and broad
understanding of Greenland as well as extensive experience in the
preparation of SIA studies. The technical background reports, which
form the baseline for the SIA have now reached completion and will
be shortly submitted to the authorities for review.
With the PFS also now nearing completion, the last remaining SIA
related components, which include final stakeholder interviews will
be finalised in the coming months.
As with the EIA, the optimisation of processing methods as
identified in the PFS will lead to minor modifications related to
the SIA. However, the SIA report will still cover the same topics
as described in the Terms of Reference which has already been
approved by the Greenlandic Authorities.
The Company anticipates additional updates for shareholders
before year-end.
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
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) 207 907 8538
---------------------------- ---------------------
Hannam & Partners Advisory
Ingo Hofmaier Ltd. +44 (0) 207 907 8532
---------------------------- ---------------------
Susie Geliher St Brides Partners Ltd +44 (0) 20 7236 1177
---------------------------- ---------------------
Cosima Ackerman 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.
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
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contact rns@lseg.com or visit www.rns.com.
END
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