Dundas IImenite Project

The Board believes that Dundas is a world class project, with work to date demonstrating that it has the potential to be advanced into production in the lowest quartile of production costs.

The Company is supported by the Government and local community as highlighted on the EIA and SIA, and in 2017 the Company was awarded “Prospector and Developer of the Year ” by the Government of Greenland.

Highlights of the Project include:

Exceptional high grade & significant tonnage

JORC resource of 117 million tonnes at 6.1% ilmenite (in situ), with an additional exploration target of between 20 – 60 million tonnes at between 6% and 10%

Commercial value

Strong possibility of a large and long-life operation with obvious expansion potential

Supportive government & local community

Awarded “Prospector and Developer of the Year 2017” by the Government of Greenland

Simple processing

Resource is chemically homogenous with low impurities and can be processed into either chloride or sulphate slag and sulphate pigment products

Low cost

Low cost producer with minimal environmental impact

Strategic location

Close to the US and Europe providing multiple export opportunities with relatively low shipping costs

TECHNICAL REPORT

Project Description for SIA - English
  • Resource statement

    The area targeted so far covers just ~17% of the raised beach area within the primary target area, Moriusaq. This raised beach environment is one of three types of domains situated along a >30km coastline within the Dundas licence area:

    • Raised beaches; containing ilmenite accumulations over widths of more than 1km, of unknown depths, along more than 30km of coastline;
    • Active beaches; which refers to the area seaward of the frontal dunes, including the beach, tidal zones and surf zone; and
    • Drowned beaches; which refers to the areas seaward of active beaches.

    The Company believes that it could upgrade the in-situ grade by up to 30% via a simple oversize separation step prior to processing, further enhancing run of mine (ROM) grade and project economics. Importantly, Bluejay has an agreement with Rio Tinto Iron & Titanium Canada Inc. to further analyse a 40,000t bulk sample of ilmenite bearing sands from Dundas.

  • Key PFS findings

    The current PFS anticipates annual production of 440,000 tonnes of ilmenite concentrate from the Project. The key findings include:

    • Based on a JORC compliant mineral reserve of 67.1Mt – current Mineral Resource of 117Mt
    • Ore Reserve presented at a 1.6% TiO2 cut-off grade within an engineered pit design and includes loss and dilution of 4.1% and 4.3% respectively
    • Cut-off grade for Ore Reserve, assumes a selling price of US$232/t, all in sustaining C3 cost of US$113/t, Greenland royalty of 2.5% and total TiO2 recovery of 79.7%
    • Capital Expenditure:
      • US$245M estimated CapEx
      • Significant improvements expected to be achievable
      • Project finance discussions have commenced with European funding agencies
    • JORC Exploration Target of between 300Mt and 530Mt*
    • Exploration upside: JORC exploration target of between 300-530Mt at Shallow Marine and 20-60Mt at the Iterlak Delta

    Having proven the grade quality, identified an increase in the significant resource size, completed and submitted positive and supportive EIA and SIA, defined an offshore Exploration Target and completed the PFS, the Company believes it is on track to obtain an Exploitation Licence, which will be followed by commercial production.

  • Gallery

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