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Onshore & Maiden Offshore Resource Update
Onshore & Maiden Offshore Resource Update.
About this update from 80 Mile Plc
[{"type":"text","content":"\n \nRNS Number : 3898A Bluejay Mining PLC 29 May 2019 \n\nBluejay Mining plc / EPIC: JAY / Market: AIM / Sector: Mining\n29 May 2019\nBluejay Mining plc ('Bluejay' or the 'Company')\nOnshore & Maiden Offshore Resource Update at Dundas Ilmenite Project \n \nBluejay Mining plc, an AIM and FSE listed company with projects in Greenland and Finland, is pleased to announce a significant resource increase, which includes a maiden Exploration Target for the offshore region within its licence area at Dundas Ilmenite Project ('Dundas' or the 'Project'). \n \nHighlights:\n· Total Mineral Resource increased by 15% to 117Mt at 6.1% ilmenite in-situ at a 0% cut-off grade, reported in accordance with the JORC Code (2012), following drilling at onshore Iterlak East and Iterlak West \n· Maiden offshore Exploration Target, reported in accordance with the JORC Code (2012), highlights the significant expansion potential from the offshore deposit at Dundas \n \nThe 2018 onshore drill results recorded at Dundas' Iterlak East and Iterlak West project areas have resulted in an updated Mineral Resource of 117Mt containing 6.1% ilmenite in situ (the 'Resource'). This estimate has been derived and reported by SRK Exploration Services Ltd ('SRK'). The Resource, reported at a 0% cut-off grade and in accordance with the JORC Code (2012), has been delivered from sampling of consistent and homogenous material with high-grade and high-quality ilmenite from the onshore raised beaches at the Iterlak East and West deposits. This updated Mineral Resource estimate replaces the Mineral Resource announced in the RNS dated 17 December 2018 and positively enhances the Project economics.\n \nRSC Global Pty Ltd ('RSC') has determined 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. This has been evaluated through a work programme involving marine seismic, bathymetry, as well as active and drowned beach sampling. This target has been presented as an Exploration Target in accordance with the JORC Code (2012), and the Competent Person takes responsibility for the form and the context in which the Exploration Target appears in this report. The potential quantity and grade of t...