Dundas Project - Electronic Nautical Charts

RNS Number : 8726Y

Bluejay Mining PLC

19 January 2022

 

Bluejay Mining plc / EPIC: JAY / Market: AIM / Sector: Mining

19 January 2022

Bluejay Mining plc ( ' Bluejay ' or the ' Company ' )

Dundas Ilmenite Project - Electronic Nautical Charts published

Bluejay Mining plc, the AIM, FSE listed and OTCQB traded exploration and development company with projects in Greenland and Finland, is pleased to announce the important publication of the Electronic Nautical Charts ('ENCs') by the Danish Geodata Agency ('DK 4ENC's') which covers the key seaward approach and coastal waters for the Dundas Ilmenite Project.

The Danish Geodata Agency "Geodatastyrelsen" who are responsible for the production of official nautical charts in Greenland, have produced and released digitally, five official DK 4ENC's covering the seaward approach and coastal waters for its subsidiary Dundas Titanium A/S' Dundas Ilmenite Project.  The charts are based on detailed bathymetry acquired by Dundas Titanium A/S and historical lower resolution bathymetry. The digital ENCs are now commercially available for navigational purposes through the IC-ENC distribution-network. These charts provide important navigational and bathymetric data which will be utilised during both the construction period as well as the production phase at Dundas. This update of the ENC's constitutes a key dataset for the future safe shipping operations.

Hans Jensen, Managing Director Dundas Titanium A/S said: "We have been extremely pleased with the collaboration and cooperation with the team at the Danish Geodata Agency who have produced the charts. When Dundas Titanium A/S, a Bluejay Mining plc subsidiary, shipped its bulk sample to Canada in September 2019, it had to rely on lower quality analogue charts. The production and release of these updated nautical charts for the approach and near-costal water towards the future Dundas mine area is a prerequisite for future safe shipping operations and enables us to advance discussions with potential bulk-carrier companies regarding the transport of our products from our mine area in North-West Greenland."

For further information please visit http://www.bluejaymining.com or contact:

Roderick McIllree/ Kevin Sheil	Bluejay Mining plc	[e-mail]
Ewan Leggat/ Adam Cowl	SP Angel Corporate Finance LLP(Nominated Adviser)	[phone]
Andrew Chubb	Hannam & Partners (Advisory) LLP	[phone]
Tim Blythe/ Megan Ray	Blytheweigh	[phone]

Notes

Bluejay is listed on the London AIM market and Frankfurt Stock Exchange and its shares also trade on the OTCQB Market in the US. With multiple projects in Greenland and Finland, Bluejay has now secured four globally respected entities as partners, customer, and co-investor on three of its projects, giving the Company and its shareholders both portfolio and commodity diversification in high quality jurisdictions.

Bluejay has signed a definitive joint venture agreement with KoBold Metals to guide exploration for new deposits rich in the critical materials for electric vehicles (The Disko-Nuussuaq Project). Principal investors in KoBold include Breakthrough Energy Ventures, a climate & technology fund, overseen by Bill Gates, and whose investors include Michael Bloomberg, Jeff Bezos, and Ray Dalio. Other investors in KoBold include Andreessen Horowitz, the premier Silicon Valley venture capital fund and Equinor, the Norwegian state-owned multinational energy company.

Bluejay's most advanced project is the Dundas Ilmenite Project in Greenland, which is fully permitted and being developed towards production in the near term, with preparatory activities scheduled to commence in 2022. The Dundas Ilmenite Project has been proven to be the highest-grade mineral sand ilmenite project globally, with a Mineral Resource reported in accordance with the JORC Code of 117Mt at 6.1% ilmenite and a maiden offshore Exploration Target of between 300Mt and 530Mt of ilmenite at an average expected grade range of 0.4 - 4.8% ilmenite in-situ.  The Company has agreed a Master Distribution Agreement with a major Asian conglomerate for up-to 340,000ktpa of its anticipated 440,000ktpa annual output. The Company has signed on a major European bank to head the financing syndicate for Dundas. The Company's strategy is focused on securing financing ahead of commencing commercial production at Dundas in order to create a company capable of self-funding exploration on its current and future projects.

Bluejay holds two additional projects in Greenland - the 692sq km Kangerluarsuk zinc-lead- silver project ('Kangerluarsuk'), where historical work has recovered grades of 41% zinc, 9.3% lead and 596 g/t silver and identified four large-scale drill ready targets; and the 2,025 sq km Thunderstone project which has the potential to host large-scale base metal and gold deposits. Bluejay has agreed a joint-venture agreement with a mining major at its Enonkoski Project in Finland and has recently signed a binding agreement for a partial divestment in a fourth Finnish project.

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