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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Bluejay Mining PLC (PK) | USOTC:BLLYF | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.00017 | -4.23% | 0.00385 | 0.003 | 0.0053 | 0.0048 | 0.0031 | 0.00412 | 678,944 | 21:30:04 |
August 9, 2021 -- InvestorsHub NewsWire -- Bluejay, the AIM and FSE listed, and OCTQB (ticker:BLLYF) traded, exploration and development company with projects in Greenland and Finland, has signed a joint venture agreement ('JV' or the 'Agreement') with KoBold Metals ('KoBold ), at the Company's Disko-Nuussuaq nickel, copper, cobalt, platinum magmatic massive sulphide project ('Disko' or the 'Disko Project') in Central West Greenland.
KoBold
The Agreement
Kurt House, CEO of KoBold, said: "The Disko region has seen the rare convergence of events in earth's history that could have resulted in forming a world-class battery metal deposit.
"KoBold's technology is perfectly suited to discovering new resources at Disko. Our proprietary library of analytical tools, Machine Prospector®, will enable effective deployment of exploration capital and maximize our chances of discovery at Disko-Nuussuaq.
"We are excited to invest in Greenland's emerging mineral sector and to partner with Bluejay in light of their strong track record in Greenland and the outstanding potential of the Disko project."
Bo Stensgaard, CEO of Bluejay, said: "This Agreement is transformative for Bluejay. We are delighted to have a partner at the pinnacle of technical innovation for new exploration methods, backed by some of the most successful investors in the world.
"Additionally, Bluejay retains the ability to self-fund to maintain a 49% ownership through to production, providing external public investors with the opportunity of investing alongside a private investment entity of this magnitude.
"Disko is a project with great potential for the discovery of globally significant deposits of battery metals. It is, however, this scale that necessitated a financially and technically strong partner to develop Disko. After many conversations with many groups from all over the world we are pleased to enter into partnership with a group that shares our position on fairness and providing a transparent long-term outcome for shareholders as well as being a credible and reliable partner that shares our commitment to environmental sustainability. I am very pleased to say that we have achieved this now with KoBold, an organisation with the heft and technical capability to grow this project to its full commercial potential. We are extremely excited to be working with them."
Dr. Peter Lightfoot, Lead of Magmatic Systems at KoBold, said: "The Disko-Nuussuaq Property is centred in a region of extensive contaminated and metal-depleted volcanic centres where there is clear evidence for the equilibration of flood basalt magma with crustal sulfur with potential for the concentration of magmatic sulphides in shallow sub-volcanic intrusions. The rich inventory of government and exploration data provides an excellent starting point for KoBold to utilize proprietary technology to support exploration."
"After working on the Noril'sk mineral system and applying the ideas to help Falconbridge with their exploration work, it is exciting to see this work come to fruition."
The Disko Project
The Disko Project is hosted within the West Greenland Tertiary Igneous Province where Bluejay holds several licences that make up its holding of 2,897 square kilometres ('km²'). In recent years, the Company has seen a licence acquisition "race" where Bluejay's first-mover holdings have been surrounded by other licence holders, most notably Anglo American which holds almost 10,000 km².
Previous studies and work conducted by the Company highlighted a strong correlation between the Norilsk massive sulphide emplacement in Siberia, which is the marginal producer of nickel and palladium, and Disko. Bluejay has undertaken multiple work campaigns, undertaking aerial surveys, extensive geochemical sampling utilising the most modern analytical techniques with ultra-low sensitivity as well as soil gas hydrocarbon sampling. These new "deep-penetrating" geochemical and gas surveys have for the first time provided metal anomaly signals coincident with previously identified large-scale geophysical responses.
More than 30 years of exploration by companies, including Cominco and Falconbridge, but also more recent work by Vismand Exploration and Cairn Energy backed Avannaa Resources, as well as government-backed work and data acquisition by the Geological Survey of Greenland/Geological Survey of Denmark, has resulted in a vast amount of scientific data (both geological, geochemical and geophysical) all pointing to globally significant accumulations of metals.
For further information please visit http://www.bluejaymining.com or contact:
Roderick McIllree |
Bluejay Mining plc |
+44 (0) 20 7907 9314 |
Bo Stensgaard |
Bluejay Mining plc |
+45 2367 8067 |
Eric Sondergaard |
Bluejay Mining plc |
+1 403 813 1830 |
Tim Blythe |
Blytheweigh |
+44 (0) 20 7138 3205 |
Megan Ray |
Blytheweigh |
+44 (0) 20 7138 3205 |
Notes
Bluejay has multiple projects in Greenland and Finland, and has now secured three globally respected entities as partner, customer, and co-investor on three of its projects, giving the Company and its shareholders both portfolio and commodity diversification in high quality jurisdictions.
Its most advanced project is the Dundas Ilmenite Project in Greenland, which is fully permitted and being developed towards production in the near term. The Dundas Ilmenite Project has been proven to be the highest-grade mineral sand ilmenite project globally, with a Mineral Resource reported in accordance with the JORC Code of 117 million tonnes ('Mt') 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 has agreed a Master Distribution Agreement with a major Asian conglomerate for up-to 340,000ktpa of its anticipated 440,000ktpa annual output. The Company's strategy is focused on securing financing ahead of commencing commercial production at Dundas in order to create a company capable of self-funding exploration on its current and future projects.
Bluejay holds two additional projects in Greenland - the 692sq km Kangerluarsuk zinc-lead- 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; and the 2,025 sq km Thunderstone project which has the potential to host large-scale base metal and gold deposits. Bluejay also has a joint-venture agreement with a mining major at Enonkoski in Finland; has recently signed a binding agreement for a partial divestment in a fourth Finnish project, and with KoBold at Disko following today's announcement.
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