Stakeholder Briefing Workshop. October 2017

Transcription

1 Stakeholder Briefing Workshop October 2017

2 COMPANY OVERVIEW GREENLAND Exploring a number of high grade & high tonnage polymetallic assets throughout Greenland and the Nordic Region Dundas Titanium Project World s highest grade ilmenite project Primary focus Exploration upside Bulk sampling and piloting underway FINLAND Additional upside potential from wider portfolio 3 high grade copper, zinc and nickel projects in Finland South-west Greenland Two advanced polymetallic projects +US$50m previously spent on exploration Disko-Nuussuaq: Magmatic Massive Sulphide nickelcopper-platinum project Kangerluarsuk SedEx: Zinc-lead-silver project 1

3 COMPANY STRUCTURE Bluejay Mining plc Group Structure 30-Jun-17 Bluejay Mining Plc (UK) (Formely FinnAust Mining plc) 100% Centurion Mining Limited (UK) 100% 100% 100% 100% Disko Exploration Limited (UK) BJ Mining Limited (BVI) Finland Investments Limited (UK) Centurion Universal Limited (UK) Greenland - Disko 100% Dundas Titanium A/S (Greenland) Greenland - Pituffik FinnAust Mining Northern Oy (Fin) 100% 100% Finland FinnAust Mining Finland Oy (Fin) 100% Centurion Resources GmbH (Austria) Austria - Mitterberg 2

4 DUNDAS ILMENITE PROJECT Moriasaq Dundas Titanium s main exploration base for last three years 3

5 LICENCE AREA MORIUSAQ BAY INFERRED RESOURCE OF 23.6MT AT 8.8% ILMENITE (IN SITU) FOR THE TESTED AREA 17% OF TOTAL DEPOSIT The deposit covers two types of terrain: Raised and Active Beaches: Raised Beach refers to the dunes up to the base of the escarpment. Active beach refers to the area seaward of the frontal dunes, including the beach, tidal zones and surf zone 4 Drowned Beaches: refers to the areas seaward of active beaches.

6 RESOURCE CAPABLE OF SUPPORTING AN OPERATION OF 30 YRS PLUS MINE LIFE WITH EXTENSIVE EXPLORATION POTENTIAL Classification Volume (M.m 3 ) Tonnage (M.t) Density (t/m 3 ) % THM % >2mm % >5mm % <63µm % TiO 2 In HM % TiO 2 In-situ % Ilmenite In-situ Inferred Only covers ~17% of the licence area Iterlak and additional 25km of raised beach are yet to be tested Includes a high-grade zone of 7.9Mt at 14.2% ilmenite (in situ) at Moriusaq which is the focus of the feasibility and production studies currently underway A larger exploration target of between 90Mt to 130Mt at an in-situ grade of between 6.3% and 8.4% ilmenite has been identified 5

7 TARGET AREAS Port 1 Port 2 6

8 7 RAISED BEACH

9 8 ACTIVE BEACH

10 MINE PLAN OPTION 1 Raised and Active Beach mining using scrapers or excavator/trucks. 9

11 MINE PLAN OPTION 2 Dredging within Tombolo and dozer pushing down to dredge and/or off shore dredging near Iterlak delta. 10

12 PROCESS FLOWSHEET STAGE 1 Raised and active beach sands are fed to a run of mine bin. Coarse rocks are screened by a grizzly to prevent blocking the bin. The sands and smaller rocks are fed to a wet scrubber which breaks up the lumps and attritions the ore. The scrubber discharges to a rotating trommel screen which rejects material greater than 2 mm. Dundas Ilmenite Project 11

13 PROCESS FLOWSHEET STAGE 2 Screened slurry from Stage 1 is fed to a gravity circuit which uses spirals to separate the heavy (ilmenite rich) sands from the light (silica) sands. The heavy sands are fed to an upward current classifier which washes out residual light sands. Dundas Ilmenite Project 12

14 PROCESS FLOWSHEET STAGE 3 The heavy sands are fed to a wash filter to remove salt water and then are dried and cooled. The dry heavy sands are fed to rotating drum magnets which firstly remove magnetite, and then recover ilmenite. Non magnetic sands are rejected. Dundas Ilmenite Project 13

15 PLANT & INFRASTRUCTURE Modular structure planned with minimum construction required at site itself. Options 1. Bring concentrator in on large barge; 2. Bring in components in sea containers, in modular form. Main site works will be port and stockpile facility. 14

16 INFRASTUCTURE AIR TRANSPORT Number of suitable areas available for airstrip or helicopter pad. Air Greenland operating services to Qaanaaq. Royal Arctic servicing Qaanaaq. 15

17 INFRASTRUCTURE - WATER SUPPLY Fresh water readily available although studies required on storage requirements for winter period. Process Plant can operate on seawater. Fresh water required for washing ilmenite concentrate and for drinking and domestic use. 16

18 INFRASTRUCTURE PORT OPTION 1 Dredged Channel for Port with Barge 17

19 INFRASTRUCTURE - PORT OPTION 1 Nalunaq Gold Mine Floating barge may be used as jetty for loading barges, subject to impact of wind and currents. 18

20 INFRASTRUCTURE PORT OPTION 2 An alternative port structure may be designed to accommodate barges given shallow draft. 19

21 TRANSHIPPING Met-ocean study confirms shipping window available between July and October. At an annual production of 300,000t of ilmenite need: 1. Six 50,000t carriers, each arriving every 2-3 weeks; or 2. Ten 30,000t carriers, each arriving every 1-2 weeks. 20

22 TRANSHIPPING Due to shallow harbour a transhipping vessel fitted with a crane and motorised barges will be built to load the carriers. Transhipping vessel may be a single panama fitted with two cranes or two smaller vessels fitted with a single crane. 21

23 MANNING Personnel By Department Total Professional Skilled Non Skilled On Site Management Process Maintenance Accounting Shipping Accommodation EHS&T/Community Mining Mining Contractor Professionals: Skilled: Non-Skilled: Engineers, Metallurgists, Geologists, Chemists, Accountants, Environmentalists, Administration, Doctors, Nurses Harbour Master, Heavy Equipment Operators, Mechanics, Electricians, Chefs, Technicians, Carpenters, Safety & Training Officers Mine & Process Operators, Port Operators, Kitchen Hands, Cleaners, Clerks

24 WORK PROGRAMME Dundas has completed extensive exploration and development studies. Goal Activities Status Deliver a viable development and logistics solution Define a processing route and optimise design Define a Mineral Resource Define the project life and production levels Complete a feasibility study. Dredge mining study by Royal IHC. Transhipping study by CSL. Engineering studies on plant design and infrastructure. Metallurgical testing and flowsheet development by Robbins/AML SRK to develop a Mineral Resource Estimate for Life of Mine SRK to develop mine plan and schedule Appoint a Study Manager and Complete Feasibility Study Metocean study completed. Dredging options under review. Shipping logistics study commenced. Detailed engineering studies awarded. Bulk metallurgical sample undergoing large scale testwork in Queensland aimed at optimising process design Initial resource announced in Q MRE being upgraded by SRK based on 2017 field season.. In progress. In progress. 23

25 WORK PROGRAMME Market analysis shows a large and growing demand for ilmenite products available from Dundas Goal Activities Status Finalise marketing and offtake agreements. Engage specialist marketing partners to develop to develop sales strategy. Appointed marketing experts. Product specifications being developed. Finalise Environmental Impact Assessment (EIA) and Social Impact Assessment (SIA) Define Terms of Reference for EIA and SIA EIA studies by Orbicon A/S SIA studies by NIRAS Greenland A/S. Public hearings completed, White Paper finalised. Baseline study inclusive of marine, freshwater and terrestrial samples commenced. Underway. Public consultation has commenced. Complete Exploitation Licence Application Public Hearing for SIA and EIA. Not commenced. IBA development and negotiations.. 24