Greenland Prime Minister pro-mining & helicopter fly-by worlds highest-grade titanium project
Friday, May 11th, 2018
“Greenland will work to develop its mineral wealth until the “last stone” is turned”
Biggest island on planet earth, Greenland’s burgeoning mining industry gets another positive boost as the pro-business party doubles its national support by winning recent election.
Congratulations to Prime Minister Kim Kielsen, who goes on record saying “Greenland will work to develop its mineral wealth until the “last stone” is turned”. Good news for investors of The Artic Silk Road, as improved access to and from Greenland, and a more favourable investment climate ushers in a promising mining era.
Bluejay CEO Roderick McIllree said: “We are delighted with this result, a lot of hard work by a lot of people has gone into this upgrade confiming Dundas’s place amongst other major global ilmenite deposits. We expect that the natural advantages of a homogenous material new high grade indicated resource to pin an operation around and a very interesting set of very high grade targets to the East around Iterlak which is the main feeder zone will help project economics in the long term. Coupled with the fact this material is recognised by industry majors as being suitable for sulphate pigment and both sulphate slag and chloride slag production means we are well placed to make some big strides in the short term.
“These results matched our best internal expectations of size and grade for the indicated resources at Moriusaq, the surprise of 2017 was the realisation that Iterlak, where mineralisation is found in raised beaches and the delta, appears to host similar sized zones with much higher grades (2017 result from Iterlak was 77% ilmenite in situ on the raised beach) which says to me that if things continue as they did during 2017 Dundas could quickly become unique amongst all known deposits.
“We have continued to progress permitting, pre-feasibility work modules, as well as a general preparation towards a busy 2018, and we expect to be in a poisiton to update shareholders shorlty. The recent award of “Prospector and Developer of the Year” by the Government of Greenland is a testament to our competence and compliance to date in ensuring that the Dundas Project meets its qualifying obligations for an exploitation licence. Alongside this, the team at Bluejay has been working hard with our consulting partners (Wood Plc, IHC Robbins, SRK, Royal IHC and study managers Quadtech ltd and Keypointe ltd) in developing our mine and operational plan.
“The Company maintains a cash buffer of more than £15 million having already secured a 30t mining fleet, conveyor & trommel systems as well as other necessary equiptment and accommodation necessary to prepare and ship out material for smelter testing. During the year we will prepare the site with various infrastructure works. This equitment will continue to be augmented throughout the year.
“As part of evaluating the commercial realities of viable long term ilmenite production, we have identified a simple and low cost processing route levering off natural characteristics such as the ability to remove ~30% of the oversize material prior to processing (thereby improving the in-situ grades by up to 30% also). We have also optimised the mine plan and schedule such that the operation starts on the highest grade material, a situation that we should be able to maintain for many years. Importantly, the ore contains conentrations of radionucleides that are below detection limits.
The company will be updating shareholders regarding all other activities in due course.”https://www.titanium.gl/