Bluejay Mining plc ORD 0.01P, (LON:JAY) the AIM and FSE listed company with projects in Greenland and Finland, is pleased to announce that it has completed its maiden 2017 field work programme at the 100% owned Disko Nickel, Copper, Cobalt & Platinum Project in West Greenland (‘Disko’ or the ‘Project’).
Highlights
· Surface sampling confirms working sulphide system with initial chemical assays in oxidised surface material returning 2.02% Nickel, 0.8% Copper, 0.2% Cobalt
· Handheld XRF sampling on fresh, polished material returned values averaging between 4.6%-9.3% Nickel & 1.5 – 2.8% Copper
· Primary objective of Disko 2017 work programme was to identify drill targets
· Work focussed on southern licence area, Area 1 – The Kugg Project
· Completed a Moving Loop, High Powered Electro-Magnetic (‘MLEM’) survey
o designed to test low resistivity targets identified by previous licensees
o EM results are currently the subject of detailed evaluation and assessment by the Company and its advisors
· Fresh sample taken from outcrops show characteristics indicative of large scale Ni-Cu-Co-PGE sulphide segregation, course grained inter-locking crystals of metal sulphides observed in hand specimens, average size +15cm
· Surveys were carried out in two of the four anomalies in Area 1, with the remainder to be tested next year
· Data compilation and interpretation for Area 2 – The Illug Project (‘Illug’), located on the northern peninsular continues – this work has already identified numerous additional targets, as well as confirming historically identified anomalies
· Additional large coincident gravity, magnetic and conductor anomalies identified in the new licence areas
· Results from 2017 exploration work together with historical data will continue to be assessed in the coming months to refine targets for future exploration work
· Standalone exploration programme planned for 2018 to advance project understanding in our recently enlarged licence area, now comprising 970km2
· Company continues to assess options to maximise shareholder value at Disko, Kangerlussuaq and Finland
Bluejay Mining PLC ORD 0.01P CEO Roderick McIllree said, “We have long held great optimism for Disko. The similarities between Disko and other great MMS systems of the world are striking. The identification of large weathered gossans in the field continues to exceed our expectations and the results received from this maiden 2017 work programme have greatly strengthened our understanding of this part of Greenland, giving us improved confidence in the Project’s resource potential. Chemical assays of 2.02% Nickel, 0.8% Copper, 0.2% Cobalt returned from surface and much higher-grade material observed via handheld XRF, not to mention the extremely coarse crystals, all point to a long and slow baking process, which is a critical factor for large scale Ni-Cu-Co-PGE MMS segregation and accumulation. Accordingly, early identification of the geological structures and similarities with Norilsk appear to be justified.
“Our task now is to determine the best way forward; something we look forward to updating shareholders on in due course. Nonetheless, whilst we are excited about the opportunities Disko presents, I would like to assure shareholders that our primary focus, as always, remains firmly on our flagship Dundas Ilmenite Project.”
