Bluejay CEO Roderick McIllree said, “This increase in licence grant almost doubles our landholding at Disko, which has clear similarities to other great MMS systems of the world. We believe in the geological model defined by several majors before us and will work to unlock value here during 2018.
“We have several parties interested in partnering with us on this project and we will carefully evaluate these individually to determine the best way forward for shareholders. Work will focus on developing drill targets in the newly enlarged project and will run in parallel to our primary development work at the Dundas Ilmenite Project, which due to its close proximity makes implementing two development programmes very cost effective.
“With production approaching at Dundas, and significant further upside from Disko, we have a valuable portfolio that strongly positions us for long term growth.”
Bluejay Mining plc LON:JAY, the AIM and FSE listed company with projects in Greenland and Finland, this morning announced that it has further increased its land package for the Disko-Nuussuaq Magmatic Massive Sulphide Nickel-Copper-Platinum Project in south-west Greenland by an additional 1,616km(2) . The Project now comprises a total of 2,586km(2) . The area under license at Disko is now approximately the size of the country of Luxembourg and we have secured this additional acreage following positive results from recently completed internal studies. To view the press release with the illustrative maps and diagrams please use the following link:
Located on the south-west coast of Greenland, Disko has shown its potential to host mineralisation similar to the nickel/copper sulphide mine Norilsk-Talnakh located in northern Russia. Seven significant MMS targets have been identified to-date at the licence area, with the largest being 5.9km long by 1.1km wide. A 28t boulder assaying 6.9% nickel, 3.7% copper, 0.6% cobalt and 2g/t platinum group metals has also been discovered on the licence area, which is now displayed in the foyer of the Danish Geological Museum in Copenhagen, further highlighting the potential of these licences.
A surface sampling programme in 2017 confirmed a working sulphide system at Disko 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. Fresh samples taken from outcrops confirmed characteristics indicative of large scale Ni-Cu-Co-PGE sulphide segregation and course grained inter-locking crystals of metal sulphides were observed in hand specimens with an average size of +15cm. Further details of the exploration work conducted at Disko are set out in the Company’s announcement of 8 December 2017.