Bluejay Mining PLC – Agreement with Rio Tinto Iron and Titanium Canada

Bluejay Mining PLC – Agreement with Rio Tinto Iron and Titanium Canada

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.

Overview:

  • 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."

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