14th Oct 2019 11:34
(Alliance News) - Bluejay Mining PLC on Monday said a field work programme at its Disko-Nuussuaq project in west Greenland has identified another seven defined drill-ready targets.
The largest of the new targets at the nickel-copper-cobalt-platinum group elements project is 12 kilometres long and two kilometres wide. The number of defined drill-ready targets now totals 28, rising from 21 in 2018.
Bluejay has also begun a working collaboration with the University of Western Australia's Centre for Exploration Targeting. The Geological Survey of Denmark & Greenland will also partner in the programme.
Furthermore, the company is "in discussions with three significant parties about accelerating Disko development".
The miner has also cancelled its enhanced Full Tensor Gradiometer Gravity survey and terminated its contract with AustinBridgeporth. According to Bluejay, the eFTG survey became "somewhat redundant" and continued delays have ultimately resulted in contract termination. Bluejay is considering use of the eFTG system in areas of Disko and Nuusuaq which lack geophysical data.
Bluejay Chief Executive Roderick McIllree said: "Disko is really starting to take shape. Once the partner selection phase of the programme is completed, then we ideally move towards drilling next year. We are fortunate in that this project has attracted very senior technical and academic specialists who have all agreed to work on Disko with us. We are privileged to have this team in place. It is my personal belief that all that stands between us and a globally significant discovery here is the act of drilling. I look forward to updating shareholders as things continue to progress at this most promising of projects."
Shares in Bluejay were up 0.7% at 8.93 pence in London on Monday morning.
By Anna Farley; [email protected]
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