Bluejay Mining plc, the AIM and FSE listed company with projects in Greenland and Finland, is pleased to announce that it has reached an agreement with Rio Tinto Iron and Titanium Canada Inc. ('RTIT') to further analyse Ilmenite from its 100% owned Dundas Ilmenite Project in Greenland. RTIT is a member of the Rio Tinto Group, a major producer of high-grade titanium dioxide feedstock from its current operations in Canada, South Africa and Madagascar.
- Dundas is a scalable strategic asset and has a current JORC Compliant Mineral Resource of 101 million tonnes at 7.1% ilmenite (in-situ) and has been confirmed as the highest-grade mineral sand ilmenite project globally.
- RTIT will analyse Ilmenite from the Dundas Project. This will include a smelter test sample (subject to Greenland Government approval) from Dundas at RTIT's Sorel-Tracy plant in Quebec, Canada.
- RTIT and Bluejay will work together to review and improve on the technical work that has been completed on Dundas to date.
- RTIT may terminate the agreement at any time and there is no guarantee that the ilmenite assessment will lead to a long-term transaction between Bluejay and RTIT.
Bluejay CEO Roderick McIllree said, "We are delighted to be working with Rio Tinto and this summer one of the key-outcomes will be the delivery of a large bulk-sample to the Sorel-Tracy plant. We believe that the ilmenite from Dundas will prove to be a very valuable material for the Sorel-Tracy plant operation and believe that the experience and expertise from Rio Tinto will provide an opportunity for technological and economic optimization.
Furthermore, and importantly, the signing of this Agreement with one of the world's largest mining groups proves Bluejay's "discover, develop and deliver" model for Greenland. In addition to continuing to drive Dundas towards permitted exploitation, we expect to continue to expand the resource base in both the on- and off-shore environments. Consequently, we are now able to refocus some of our attention to our other significant and high value projects namely Disko, Kangerluarsuk and Finland.
Shareholders can expect news shortly on the large scale and innovative work programmes that will be conducted over these projects during 2019."