4th Feb 2020 17:43
(Alliance News) - Bluejay Mining PLC on Tuesday reported "highly encouraging results" from soil geochemical surveys at its Disko-Nuussuaq project in Greenland.
Bluejay also said it was "granted a newly expanded licence area at Disko" plus a new licence on Disko Island by Greenland's Mineral Licence & Safety Authority.
Mobile Metal Ions or MMI-ME soil samples from Disko - a nickel, copper, cobalt, platinum group metals, and gold project - "identified multiple nickel and copper geochemical anomalies, further enforcing both new and pre-existing anomalies".
Spatiotemporal Geochemical Hydrocarbon or SGH results for nickel and copper mineralisation was found to coincide with Bluejay's defined drill targets at Disko.
Overall, 1,161 samples were taken at Disko in "the first ever systematic geochemical sampling programme over existing targets at Disko" and four has an SGH rating of between 4.0 and 5.0, which confirmed "strong signatures consistent with nickel and/or copper mineralisation".
Chief Executive Roderick McIllree said: "These results are the first large scale systematic geochemical evidence of mineralising systems at Disko and further support the existence of metal bearing mineralising systems. We are extremely pleased with these developments. Significant successful geophysical and geotechnical analyses have been carried out before and since Bluejay acquired the Disko-Nuussuaq licences. However, being able to now add, for the first time, a geochemical overlay to our work significantly increases the confidence level as well as further refining exact drill site positioning. We expect to expand these successful methods across other prospective regions within our extensive licence holding.
"We are delighted to also have been granted both the new licence area and licence extension on Disko. Our new ground is strategically located in drill accessible valleys and coastal regions that benefit from absent or limited flood basalt cover - this allows access to the feeder intrusions that may host nickel-copper mineralisation. Our decision to further increase our licence holdings is testament to our confidence in the district-scale prospectivity and discovery potential of the area."
Shares in Bluejay ended up 3.8% at 8.12 pence in London on Tuesday.
By Anna Farley; [email protected]
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