REG - Bluebird Merchant - Investor Presentation on Investor Meet Platform

Bluebird Mining VenturesAnnouncement

28/10/2022 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20221028:nRSb4685Ea&default-theme=true

RNS Number : 4685E  Bluebird Merchant Ventures Limited  28 October 2022

Bluebird Merchant Ventures Ltd / EPIC: BMV.L / Market: FTSE / Sector: Mining

28 October 2022

Bluebird Merchant Ventures Ltd ('Bluebird' or 'the Company')

Investor Presentation on Investor Meet Platform

 

Bluebird Merchant Ventures Ltd, a gold company primarily focused on bringing
historic mines back into production, is pleased to announce that CEO Colin
Patterson will provide a live presentation via the Investor Meet Company
platform on Friday 4th Nov 2022 at 9:00am GMT.

 

Bluebird's team have successfully reopened multiple mines profitably. In a
risk reduced approach, they identify mines that have high grade ore, excellent
data, resource potential, good access, established infrastructure, and are low
capex and high margin. It currently has two 100% owned licensed high grade
narrow vein mining projects, the Kochang Gold and Silver Project and the
Gubong Gold Project in South Korea, which were closed in the 1970's when the
gold price was sub US$100 per oz. With a current estimated aggregate c.1.5m oz
Au, both have a defined route to low cost/ low capex production with a
cumulative target of producing 100,000 oz + Au per annum.  The Company also
has the high grade Batangas Gold Project in the Philippines, which it is
looking to advance with a local partner that has operated mines in country.
Negotiations are on-going and expected to conclude in the near term.

 

The presentation is open to all existing and potential shareholders.
Questions can be submitted pre-event via your Investor Meet Company dashboard
up until 9am the day before the meeting or at any time during the live
presentation.

 

Investors can sign up to Investor Meet Company for free and add to meet
BLUEBIRD MERCHANT VENTURES LTD via:

 

https://www.investormeetcompany.com/bluebird-merchant-ventures-ltd/register-investor
(https://www.investormeetcompany.com/bluebird-merchant-ventures-ltd/register-investor)

 

Investors who already follow BLUEBIRD MERCHANT VENTURES LTD on the Investor
Meet Company platform will automatically be invited.

 

**ENDS**

 

For further information please visit https://bluebirdmv.com or contact:

Jonathan Morley-Kirk - Non-Executive Chairman

email: jmk@bluebirdmv.com

 

About Bluebird:

Bluebird Merchant Ventures Ltd (BMV.L) is a London listed South Korea-focused
resources company centred on bringing historically producing gold mines back
into production. The Company, led by a team of proven mine rehabilitation
experts, currently has two 100% owned licensed high grade narrow vein mining
projects, the Kochang Gold and Silver Project ('Kochang') and the Gubong Gold
Project ('Gubong'), which each have a defined route to low cost/ low capex
production with a cumulative target of producing 100,000 oz + Au per annum.
Additionally, the Company has the highly prospective Batangas Gold Exploration
Project in the Philippines, which has a resource of 440,000oz Au of which
128,000oz Au is a reserve, and has had c.US$20m invested in it to date.  The
management team has invested cUS$2 million personally into the Company and
believe, following analysis of historic production and exploration data, as
well as extensive sampling, geological, geophysical, and engineering studies,
there is potential for in excess of 1.5 million oz of mineable gold in its
Korean projects alone.

 

Kochang is an epithermal vein deposit with parallel vertical ore bodies
covering 8.3 sq km that reportedly produced 110,000 oz of gold and 5.9 million
oz of silver between 1961 and 1975.  Consisting of a gold and silver mine,
there are currently four main veins and a number of parallel subsidiary veins
vein which have been identified, as well as a newly identified cross-cutting
vein. Historic drilling indicates the veins continue to depth below the
current 250m mine and mapping shows the veins on surface providing potential
above and below the old workings. The veins extend to the NE providing a
strike length of 2.5km with 600m between the two mines not exploited.  There
is potential to expand operations to the southwest/northeast and to depth, as
well as exploit the already mined areas. The total current non JORC estimate
is between 550,000 and 700,000 tonnes, with a range of grades between 5.2 g/t
to 6.6 g/t gold, and 27.3 g/t to 34.8 g/t silver.  Following the granting of
a Mountain Use permit, there is an estimated 6-to-9-month development time to
trial mining.

 

Gubong, which was historically the second largest gold mine in South Korea has
9 granted tenements covering c.25 sq km.  Gubong is flat dipping with 9 veins
extending 500m below surface and known to extend at least a further 250m.
However, the production opportunity for Bluebird prior to looking at deepening
the mine is the 25 levels already developed with all the remnants and unmined
areas left by the original miners.  The 25 levels extend over 120 km in total
length which indicates the size of the opportunity. The Korea Resources
Corporation ('KORES') estimated 2.34M tonnes at some 6 g/t Au garnered from 57
drill holes over 17,715.3 metres.  With additional sampling, mapping, pit
modelling and grade analysis, plus the fact that Gubong is an orogenic
deposit, which typically have a depth of 2km compared to the current depth of
500m, the Board believe it has a potential resource of 1 million + oz Au
in-situ, plus an estimated additional 300,000 oz Au from satellite ore bodies.

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
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  DOCFIFVEIVLTFIF