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Bluejay Mining PLC (JAY)

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Monday 23 November, 2020

Bluejay Mining PLC

Bluejay Mining joins the ERMA

RNS Number : 0843G
Bluejay Mining PLC
23 November 2020
 

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

23 November 2020

Bluejay Mining plc

('Bluejay' or the 'Company')

 

Bluejay Mining joins the European Raw Materials Alliance

 

Bluejay Mining plc, the AIM, FSE listed and OTCQB traded exploration and development company with projects in Greenland and Finland , is pleased to announce it has joined the European Raw Materials Alliance ('ERMA').

 

ERMA was recently launched by the European Commission as part of its outlined Action Plan on Critical Raw Materials. The Action Plan defines the steps Europe must take to diversify and strengthen supply chains, decrease dependency on other countries, and reduce the reliance on critical raw materials by securing access to sustainable raw materials.

 

Bluejay CEO, Rod McIllree said: "We are delighted that we and our subsidiaries have been selected as founding members of the European Raw Materials Alliance and look forward to contributing to the development and benefitting from the cooperation and opportunities within the Alliance.

 

"We were approached early about this development and are excited by working towards a sustainable and dependable raw materials supply chain for Europe. We are witnessing a critical turning point as we shift towards green and technology-focused economies. The European Raw Materials Alliance will be an important instrument for Europe. Bluejay and its project portfolio is well positioned to be an intrinsic part of the sustainable and dependable supply of raw materials needed to support societal needs, the green transition, battery metals and renewably energy solutions through sustainable mining."

 

Bluejay COO, Bo Stensgaard said: "Bluejay is working towards advancing the Dundas Ilmenite Project, the world's highest-grade mineral sands ilmenite project, located in Greenland, to sustainable commercial production. Once in production, it will produce the primary ore for titanium, one of the metals on the '2020 List of Critical Raw Materials' issued in September by the European Commission.

 

"In addition to this, our wider project portfolio in both Greenland and Finland represents, beside the primary base metals such as copper and nickel for the battery industrial ecosystems, electrification and the green transition, potential future and important sources of other Critical Raw Materials such as cobalt, platinum group metals and potentially germanium. Projects that in several cases could be game-changers, such as the Disko-Nuussuaq Ni-Cu-Co-PGM-Au  Project in West Greenland and the Enonkoski Ni-Cu-PGM-Co and Outokumpu Cu-Zn-Ni-Co-Au-Ag Projects in Finland, for sustainable sourced metals for Europe.

 

"Not only is this critical issue for the abovementioned metals realised by the European Union. The U.S. State Department of the Interior issued in May 2018 a list of 35 mineral commodities that are considered critical to the economic and national security of the United States. The list was as a response current U.S. President Donald J. Trump's Executive Order to break America's dependence on foreign minerals and which importance and dependence have been emphasised during the COVID-19 pandemic, related supply risks and geopolitical developments."

 

Establishing the ERMA is the first of several actions devised by the European Commission to achieve the objectives of securing access to sustainable raw materials, advanced materials, and industrial processing know-how. The activities from the Alliance will comprise strategic investment, industrial production and creation of environmentally sustainable and socially equitable innovations and infrastructure. Finland is a member of the European Union and Greenland is one of the EU countries'  overseas countries and territories  (OCT) associated to the  European Union .

 

The alliance is managed by the knowledge and innovation community EIT RawMaterials, a consortium incorporated and funded by the European Institute of Innovation and Technology and the one hundred and twenty core and associated partners of EIT RawMaterials.

 

 

**ENDS**

 

For further information please visit http://www.bluejaymining.com or contact:

 

Roderick McIllree

Bluejay Mining plc

+44 (0) 20 7907 9326

Kevin Sheil

Bluejay Mining plc

+44 (0) 20 7907 9326

Ewan Leggat

SP Angel Corporate Finance LLP

(Nominated Adviser)

+44 (0) 20 3470 0470

Adam Cowl

SP Angel Corporate Finance LLP

(Nominated Adviser)

+44 (0) 20 3470 0470

Andrew Chubb

Hannam & Partners (Advisory) LLP

+44 (0) 20 7907 8500

Tim Blythe

Blytheweigh

+44 (0) 20 7138 3205

Megan Ray

Blytheweigh

+44 (0) 20 7138 3205

 

Notes

Bluejay is listed on the London AIM market and Frankfurt Stock Exchange and its shares also trade on the OTCQB Market in the US. 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 Mineral Resource reported in accordance with the JORC Code 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 to create a company capable of self-funding exploration on its 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. For its Enonkoski Ni-Cu-PGM-Co Project in Finland have Bluejay a prospective joint-venture agreement with a mining major.

 

 

 

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