Bluejay Mining PLC Dundas Exploitation Licence Update (1008Q)

TIDMJAY

RNS Number : 1008Q

Bluejay Mining PLC

16 June 2020

Bluejay Mining plc / EPIC: JAY / Market: AIM / Sector: Mining

16 June 2020

Bluejay Mining plc ('Bluejay' or the 'Company')

Dundas Exploitation Licence Update - Public Consultation Process

Bluejay Mining plc, the AIM and FSE listed company with projects in Greenland and Finland, is pleased to provide an update on its exploitation licence (the 'Exploitation Licence') application for the Dundas Ilmenite Project ('Dundas' or the 'Project') in Greenland.

The Company has been advised by the Ministry of Mineral Resources that the Dundas Public Consultation process ("Consultation Process" or "Stakeholder Consultation") will be tabled at this week's ministerial meeting to be held on Thursday 18(th) June 2020. We will advise the market of the Governments decision in due course.

BACKGROUND

The Company outlined in the Operational Update RNS on 14(th) April 2020, that it had entered into discussions with various Greenlandic Ministries for the purpose of finding an alternative method of handling and delivering the Public Consultation process in light of COVID-19 challenges.

Once the Stakeholder Consultation process is complete, usually within an 8-week period, all responses inclusive of company comments to each point raised are compiled into a White Book prior to presentation to the Governmental for decision on awarding an exploitation licence for Dundas.

The company is also required to complete an Impact Benefit Agreement with the local municipality on the development, which it has been advancing for some time.

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.bluejaymining.com or contact:

 
 Roderick McIllree    Bluejay Mining plc              [phone] 
 Kevin Sheil          Bluejay Mining plc              [phone] 
                     ------------------------------  --------------------- 
                      SP Angel Corporate Finance 
                       LLP 
 Ewan Leggat           (Nominated Adviser)            [phone] 
                     ------------------------------  --------------------- 
                      SP Angel Corporate Finance 
                       LLP 
 Soltan Tagiev         (Nominated Adviser)            [phone] 
                     ------------------------------  --------------------- 
                      Hannam & Partners (Advisory) 
 Andrew Chubb          LLP                            [phone] 
                     ------------------------------  --------------------- 
 Charlotte Page       St Brides Partners Ltd          [phone] 
                     ------------------------------  --------------------- 
 Cosima Akerman       St Brides Partners Ltd          [phone] 
                     ------------------------------  --------------------- 
 

Notes

Bluejay is dual listed on the London AIM market and Frankfurt Stock Exchange with projects in Greenland and Finland. Its most advanced project is the Dundas Ilmenite Project in Greenland, which is 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 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 three additional projects in Greenland - the 2,897sq km Disko-Nuussuaq ('Disko') Magmatic Massive Sulphide nickel-copper-cobalt-platinum group element-gold project ('Ni-Cu-Co-PGE-Au'), which has shown its potential to host mineralisation similar to the world's largest nickel-copper mining district at Noril'sk-Talnakh, northern Russia; 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.

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 [e-mail] or visit www.rns.com.

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June 16, 2020 05:23 ET (09:23 GMT)