Significant Source Rock Titanium at Dundas
11/07/2024 07:00
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RNS Number : 9333V Bluejay Mining PLC 11 July 2024
11 July 2024
Bluejay Mining plc / Ticker: JAY / Market: AIM / Sector: Mining
Significant Source Rock Titanium at Dundas Ilmenite Project
Bluejay Mining plc ('Bluejay' or the 'Company'), the AIM, FSE listed and
Pink-Market traded exploration and development company with projects in
Greenland and Finland, is pleased to announce the discovery of significant
hard rock titanium (ilmenite) mineralization at its Dundas Ilmenite Project in
Greenland ('Dundas' or the 'Project'). This is the first systematic assessment
of the rock potential within the Project license area and reinforces the
Project's potential as a world-class source of high-grade titanium dioxide
feedstock.
Key Highlights
· 74 bedrock samples returned an average of 11.12 % ilmenite (5.2 %
TiO(2))
· Bedrock samples consistently show almost double the values of
contained ilmenite than the existing JORC compliant resource estimate of 117
Mt at 6.1% ilmenite within the Project's raised and active beach environments
o The presence of an underlying, titanium-rich sill offers additional
exploration targets and resource expansion potential
· 10 Gt of ilmenite is estimated to remain within the Steensby Land
Sill Complex (GEUS Report 2017/18)
o The current exploration licenses along with the recently applied for
license enlargement at Dundas cover 98% of the sill complex considered in the
estimate
· This marks the first systematic evaluation of the Steensby Land
Sill Complex as a hard-rock source of titanium, presenting a significant
target for exploration, alongside its existing Copper, Gold and Silver
potential
Bluejay has initiated a comprehensive evaluation of the Steensby Land Sill
Complex as a potential source of hard-rock titanium. This evaluation
complements the existing JORC compliant 2019 Mineral Resource Estimate (MRE)
of 117 Mt at 6.1% ilmenite. The project area features ilmenite-rich sills
underlying raised and active beaches. In 2022, drilling efforts at the Dundas
Project recovered bedrock samples from 74 locations. As part of the ongoing
re-evaluation of the Dundas Project, these samples have been analysed in Q2 of
2024 at ALS Laboratories, revealing an average TiO(2) concentration of 5.2%
and a corresponding ilmenite content of 11.12%, significantly surpassing
resource estimates for the raised and active beach sand deposits. Bluejay also
reports results from rock samples analysed during the 2018 drilling campaign,
which are previously unreleased to market.
Eric Sondergaard, Managing Director of Bluejay Mining, commented:
"We are thrilled by the latest hard-rock assay results from the Dundas
Ilmenite Project, which reveal a substantial increase in ilmenite grade from
the sand deposit. The confirmation of a shallow titanium-rich sill, directly
beneath the current mineral sand deposit, presents an exciting new exploration
opportunity and will hopefully significantly enhance the projects resource
potential. Importantly, this initial assessment was performed at a very low
cost compared to a stand-alone exploration program at the Project.
Dundas, as a stand-alone mineral sand deposit, enjoyed few of the benefits
associated with deposits located in temperate localities. By evaluating the
project as a mining operation at nearly double the grade this would offer
considerable benefits to the Project economics and obtain economy of scale
that was previously difficult at current prices. The attention currently
garnered by other rock titanium deposits such as Pitfield, Australia and
Engebø, Norway, now make this a compelling alternative development option for
Bluejay.
The Company will now aim to undertake a low cost JORC compliant exploration
target, to further advance the concept"
Market Abuse Regulation (MAR) Disclosure
The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulations
(EU) No. 596/2014 ('MAR') which has been incorporated into UK law by the
European Union (Withdrawal) Act 2018.
For further information please visit http://www.bluejaymining.com
(http://www.bluejaymining.com) or contact:
Eric Sondergaard Bluejay Mining plc enquiry@bluejaymining.com
Ewan Leggat / Adam Cowl SP Angel Corporate Finance LLP +44 (0) 20 3470 0470
(Nominated Adviser and Broker)
Tim Blythe / Megan Ray / Said Izagaren BlytheRay +44 (0) 20 7138 3205
(Media Contact)
2024 Assay Results from 2022 Bedrock Intercepts
Sample Number S.G. TiO(2) Ilmenite Sample Number S.G. TiO(2) Ilmenite
% % % %
HR22001 4.74 10.1 HR22038 4.19 8.9
HR22002 3.39 7.2 HR22039 4.67 10
HR22003 3.79 8.1 HR22040 4.53 9.7
HR22004 6.64 14.2 HR22041 3.09 5.76 12.3
HR22005 3.06 5.66 12.1 HR22042 4.72 10.1
HR22006 5.68 12.1 HR22043 4.77 10.2
HR22007 6.5 13.9 HR22044 5.31 11.3
HR22008 6.17 13.2 HR22045 3.07 5.96 12.7
HR22009 3.1 4.48 9.6 HR22046 3 6.4
HR22010 3.08 5 10.7 HR22047 0.64 1.4
HR22011 5.99 12.8 HR22048 6 12.8
HR22012 6.93 14.8 HR22049 5.97 12.7
HR22013 3.07 5.63 12 HR22050 3.05 5.54 11.8
HR22014 6.22 13.3 HR22051 6.25 13.3
HR22015 6.11 13 HR22052 6.45 13.8
HR22016 6.21 13.2 HR22053 3.12 6.43 13.7
HR22017 3.08 5.99 12.8 HR22054 5.04 10.7
HR22018 5.6 11.9 HR22055 5.06 10.8
HR22019 3.73 8 HR22056 5.37 11.5
HR22020 4.32 9.2 HR22057 3.09 5.57 11.9
HR22021 3.11 6.87 14.7 HR22058 5.69 12.1
HR22022 4.92 10.5 HR22059 5.05 10.8
HR22023 2.54 5.4 HR22060 4.47 9.5
HR22024 3.92 8.4 HR22061 3.01 4.22 9
HR22025 3.1 5.89 12.6 HR22062 3.82 8.1
HR22026 5.07 10.8 HR22063 4.96 10.6
HR22027 5 10.7 HR22064 4.81 10.3
HR22028 3.12 6.56 14 HR22065 2.97 4.01 8.6
HR22029 5.37 11.5 HR22066 2.48 5.3
HR22030 5.55 11.8 HR22067 5.74 12.2
HR22031 5.79 12.3 HR22068 5.74 12.2
HR22032 5.88 12.5 HR22069 3.09 6.21 13.2
HR22033 3.08 5.64 12 HR22070 5.97 12.7
HR22034 5.69 12.1 HR22071 6.05 12.9
HR22035 6.01 12.8 HR22072 3.07 5.57 11.9
HR22036 5.08 10.8 HR22073 5.63 12
HR22037 3.02 4.85 10.3 HR22074 4.59 9.8
TiO(2) to Ilmenite conversion factor: 0.4689. Samples were prepared at ALS
Outokumpu, Finland under prep code PREP-31BY and analysed by XRF after a
fusion digestion, ME-XRF15b at ALS Loughrea, Ireland. Specific gravity
determined by ALS code OA-GRA08.
Maps of Sample Locations with Bedrock Intercept Assay Results
Figure 1. Assay results for 2022 bedrock sample locations at Moriusaq with
2018 excavator trench bedrock assay results
Figure 2. 2022 and historic bedrock sample locations and assay results at
Moriusaq and Iterlak East
Steensby Land Sill Complex
The Steensby Land Sill Complex consists of approximately 15 sills intruded
concordantly into the Dundas Formation during the Neoproterozoic around 700
Ma. These sills vary in thickness, ranging up to 100 meters thick, with most
falling between 20 and 50 meters. They exhibit both age and compositional
variations, suggesting multiple magmatic events. The sills are prominently
exposed as buttresses and ledges, making them easily identifiable from aerial
surveys. Those exposed on dip-slopes often undergo intense weathering,
transforming into gravel. Comprised of high TiO(2) and P(2)O(5) dolerites,
these sills and associated dyke rocks likely underwent significant
fractionation within a thick lithospheric setting characteristic of
continental rifting environments (Dawes, 2006).
Estimated Accumulated Thickness of Sills in Moriusaq East and West
Moriusaq East Moriusaq West
Total Stratigraphic Thickness ~900 m ~1000 m
Number of Sills ~14 12-14
Measured Thickness of Sill Material ~280 300 - 350 m
Thickness Assuming a 20m Thickness of Sills ~280 240 - 280*
Vol. % Sill Measured ~31 30 - 35
Vol. % Sill Modelled ~31 Min. 24 - 28**
Table from GEUS Report 2017/18, likely underestimated values due to the
presence of thick or multiple sills
Ilmenite Tonnages Calculated for Steensby Land Sill Complex
Ilmenite contained in sills prior to erosion 17 Gt
Ilmenite remaining in sills after erosion 10 Gt
Ilmenite available for sedimentation 7 Gt
Table from GEUS Report 2017/18
The GEUS estimate of 10 Gt of ilmenite at 7 wt. % remaining within the
hard-rock environment is noted to be conservative due to factors such as a
density value of 2.6 being used compared to an expected value of approximately
3. Bluejay conducted specific gravity measurements on 19 of the 74 samples
which confirms the underestimation, returning an average SG of 3.07. Further
factors deemed conservative are a 400 m total thickness and a 20 m sill
thickness from a common range of 20-50 m. The current and applied for Dundas
Titanium exploration licenses cover 98% of the ilmenite tonnage calculation
area from the 2017/18 GEUS report.
About Bluejay Mining plc
Bluejay is listed on the London AIM market and Frankfurt Stock Exchange and
its shares also trade on the Pink Market in the US. With multiple projects in
Greenland and Finland, Bluejay offers both portfolio and commodity
diversification focused on base and precious metals in Tier 1 jurisdictions.
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