Blue Jay Gold (TSXV: JAY) has signed a materials purchase agreement with Ocean Partners UK Limited to sell legacy stockpile material from its Steller Gold Project in Yukon, turning part of the site’s cleanup into a source of non-dilutive funding.
The material was left on surface by a previous operator during underground development at Skukum Creek, one of the deposits at Steller. Under the agreement, Ocean Partners will buy 100% of the stockpiled and similar material through the end of 2027 and will hold exclusivity over any further remediation material from the project through next year.
The stockpiles will be trucked roughly 165 kilometres by highway to the deep-water port of Skagway, Alaska, and delivered free on board. Payment follows a grade-based payability scale, with Ocean Partners advancing 90% of each shipment’s estimated value shortly after loading and settling the balance on final weights and assays.
Blue Jay did not disclose the tonnage or grade of the material, or the proceeds it expects. Funds will go toward exploration at Steller and general working capital, with the first shipment expected in the near term.
The shipments also serve as a practical test for a larger idea. Blue Jay plans to complete a preliminary economic assessment in the first half of 2027 that evaluates a direct shipping ore option for Steller’s current resource under a life of mine scenario. The company expects the logistics, sampling and commercial terms from this year’s material to inform that study, and it intends to engage a consultant this quarter.
“At Steller, we can truck the material from site to a nearby port and load it onto a ship,” said CEO Geordie Mark. “Doing this with Ocean Partners means the work generates capital for the Company instead of consuming it, and an Agreement that extends through 2027 shows that Ocean Partners sees longer-term value in Steller.”
The Steller project currently hosts indicated resources of 400,000 gold equivalent ounces at 9.06 g/t and inferred resources of 449,000 gold equivalent ounces at 6.45 g/t, per a 43-101 Technical Report with an effective date of October 31, 2025. The remediation material is not part of that estimate.
Blue Jay Gold last traded at $0.77 on the TSX Venture.