StockMarketWire.com - Bluejay Mining published Monday a significant resource upgrade for the Dundas Ilmenite project in Greenland.

Total resources identified to date at Dundas were 96m tonnes at 6.9% ilmenite (in situ), representing an increase of 400% on the maiden resource announced in April 2017, Bluejay Mining said.

The firm confirmed that an assessment of the shallow marine area was underway where the potential for additional resources were being evaluated.

'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 the project economics in the long term,' said Bluejay CEO Roderick McIllree.

'Coupled with the fact that 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'.


At 9:34am: [LON:JAY] Bluejay Mining Plc share price was +0.1p at 25.2p



Story provided by StockMarketWire.com