Bluejay Share News (JAY)

(Sharecast News) - Greenland-focussed Bluejay Mining announced the formal lodgement of its exploitation licence application for the Dundas Ilmenite Project with the Mineral Licence and Safety Authority (MLSA) of Greenland on Tuesday.
The AIM-traded firm said the licence covered the onshore portion of Dundas, and once approved, would allow it to take the next step toward annualised production of 440,000 tonnes per annum.

Currently, the defined mineral resource at Dundas stood at 117Mt at 6.1% ilmenite in-situ, at a 0% cut-off grade, as well as a maiden offshore exploration target of between 300Mt and 530Mt of ilmenite at an average expected grade range of 0.4% to 4.8% ilmenite in-situ.

The company said it was confident that it would be able to grow and validate those independently verified resources across the existing concessions at Dundas.

It explained that lodgement of the exploitation licence application represented the end of more than three years of "extensive and intensive" field assessments, measurements and documentation.

"Needless to say, we are thrilled to have lodged our exploitation licence application over the onshore parts of the Dundas project area; this achievement signals the accomplishment of over three years of work and is yet another significant milestone for Bluejay," said chief executive officer Roderick McIllree.

"The team on the ground, as well as our partners, operational managers and board members, have all worked incredibly hard and efficiently to lodge the application ahead of the testing of our bulk sample in Canada which was shipped last week."

McIllree said the "extensive work" carried out over Dundas during the past three years, when paired with exporting the company's first bulk sample from the project, had driven 2019 into being a "transformational year" for the firm.

"Thanks to the extensive studies we have undertaken, the favourable project economics and the support from our operational partners, we are confident of achieving the grant of an exploitation licence and as such, I look forward to updating the market in due course."