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Bluejay Mining plc

10.4.2017 12:03 | Marketwired

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Bluejay Mining Confirms Worlds' Highest-Grade Mineral Sand Ilmenite Project in Greenland

LONDON, UNITED KINGDOM--(Marketwired - Apr 10, 2017) - Bluejay Mining (AIM:JAY) published a Maiden Mineral Resource Estimate for the Pituffik Titanium Project in Greenland, confirming it as the highest-grade mineral sand ilmenite project globally.

The mineral resource estimate was prepared by SRK Exploration Services and is broken into three components:

  • An Inferred resource of 23.6Mt at 8.8% ilmenite (in situ)
  • Includes a high-grade zone of 7.9Mt at 14.2% ilmenite (in situ) at Moriusaq which are the focus of the feasibility and production studies that are currently underway
  • A larger exploration target for the area, encompassing potential mineralisation below and inland from the current drilling, of between 90Mt to 130Mt at an in-situ grade of between 6.3% and 8.4% ilmenite

Significant potential to increase Pituffik's global ranking in terms of tonnage via Interlak, the offshore terrace, as well as the additional 25km of raised beach that has not been included in this calculation.

Opportunity to enhance the in situ grade even further via a very simple processing route prior to further concentrating.

Bluejay CEO Roderick McIllree said, "This is an important step towards commercialisation of Pituffik titanium project in Greenland and the delivery of another stated objective. The maiden resource has exceeded even our expectations.

"The planned work for the 2017 field season should see this resource grow exponentially. Furthermore by removing approximately 30% of the material which is oversize at the dig point through screening we will be able to improve the in situ grades by 30% prior to delivery at the concentrator. This should allow for grades of over 20% ilmenite at the mineral separation level to be maintained for many years. This surpasses the conservative in-house estimates of grade and duration in our financial modeling, and when added to the fact that this material contains little to no slimes no radionuclides and consistent ilmenite chemistry throughout the deposit we anticipate the final economics will be compelling.

To Read the Full Mineral Resource Estimate produced by SRK Consulting and See all Tables for the JORC Mineral Resource Statement for Moriusaq, Greenland. For further information please visit www.titanium.gl .

Bluejay Mining plc
Roderick McIllree
+44 (0) 20 7907 9326
www.titanium.gl

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