TIDMJAY
RNS Number : 3750U
Bluejay Mining PLC
28 March 2023
Bluejay Mining plc / EPIC: JAY / Market: AIM / Sector:
Mining
28 March 2023
Bluejay Mining plc ('Bluejay' or the 'Company')
Follow Up Drilling Underway at the Enonkoski Ni-Cu-Co Joint
Venture Project with Rio Tinto
Bluejay Mining plc, the AIM, FSE listed and OTCQB traded
exploration and resource development company with projects in
Greenland and Finland, is pleased to announce that a short
follow-up drill programme has commenced at the Enonkoski
Nickel-Copper-Cobalt ('Ni-Cu-Co') Project ('Enonkoski' or the
'Project') in eastern Finland as part of the Joint Venture ('JV')
and earn-in agreement with Rio Tinto Exploration Finland Oy ('Rio
Tinto') announced 10 November 2020 .
The short follow-up diamond drilling programme at Enonkoski is
planned to consist of a single drill hole with a planned depth of
400 metres ('m') at the Laukunlampi intrusion located approximately
1 kilometre ('km') south-east of the historic Laukunkangas Ni-Cu-Co
mine. Two drill holes for a total of 951.1m were completed at the
Laukunlampi target in January, followed by downhole
electro-magnetic ('DHEM') and three component ('3C') magnetic
surveys on both new drill holes, which were completed during
February. For further details and analytical results refer to our
earlier RNS dated 27 March 2023 (titled: "Encouraging drilling
results from the Enonkoski Ni-Cu-Co Joint Venture Project with Rio
Tinto").
Based upon the encouraging results from the diamond drilling
programme in January and subsequent geological and geophysical
modelling, the JV have decided to proceed with drill testing a
high-priority drill target within the Laukunlampi intrusion whilst
drill rig availability allows. The new hole (ENON0029) currently in
progress, is collared 435m to the north-northwest of ENON0028
(Figure 2, Table 1). The objective of the current drill hole is to
test the current geological model which indicates that the
pyroxenitic units (the most favourable rock type within the
Laukunlampi intrusion to host Ni-Cu-Co mineralisation) continue
towards the north-west. In addition, the drill hole will test a
NNW-SSE trending and NNW plunging magnetic anomaly that is
coincident with an airborne electromagnetic ('EM') conductor that
has not previously been drill tested. Very limited drilling has
been conducted in the north and north-western parts of the
Laukunlampi intrusion, in the direction of the Laukunkangas
Ni-Cu-Co mine. The intrusion remains open in this direction. The
increasing sulphide content and Nickel ('Ni') tenor encountered in
the previously announced drill hole ENON0028 also support that
drilling along strike to the northwest of this hole may lead to the
discovery of sulphide droplet zones with higher Ni grades and
ultimately to ore grade semi-massive to massive sulphides.
Thomas Levin, COO of Bluejay subsidiary FinnAust Mining Finland
Oy ('FinnAust'), commented: "Given the unusually high demand for
diamond drill rigs throughout Finland at present, I am delighted
that our drilling contractor has been able to provide us with a rig
for a short time window, allowing us to complete this high priority
follow up drill hole in the Laukunlampi intrusion. The drilling and
downhole geophysics completed in January-February were completed
significantly under budget, which is a testament to FinnAust's
ability to operate cost effective exploration programmes in Finland
and has allowed us to add this extra drill hole within the current
stage of JV funding for the Enonkoski Project.
"The current hole tests a NNW-SSE trending and NNW plunging
magnetic anomaly that is coincident with an untested airborne EM
conductor, as well as dense gravity response that supports the
presence of favourable pyroxenites. We have several independent
geophysical proxies aligning, which in combination with the
increasing sulphide content and nickel tenor observed as we move to
the northwest of the intrusion, makes for a compelling drill
target".
Figure 1. Enonkoski Permit areas with location of the former
Laukunkangas (A) and Hälvälä (C) Ni-Cu-Co mines and the Laukunlampi
Intrusion (B).
Figure 2. Plan view (looking down) of the north-west -
south-east trending elongated Laukunlampi intrusion with the
location of the recently drilled ENON0028 and ENON0027 drill holes
indicated (see RNS dated 27 March 2023 ) and drill hole ENON0029
currently in progress. Former historical drill holes are also
displayed. Colours on drill-holes represent different lithologies.
The modelled pyroxenite (red solid) and the mafic-ultramafic
Laukunlampi intrusive (green solid) are both open towards north and
north-west towards an area with no historic drilling. The NNW-SSE
trending and NNW plunging magnetic model (black solid rectangles)
is coincident with a local conductor also untested by drilling. The
distance between hole collars of ENON0028 and the current hole
ENON0029 is 435m.
Table 1: Drill hole collar information for ENON0029 (drilling
currently in progress)
Coordinates (ETRS89_TM35FIN)
--- -------- ----- -----------
Planned
Hole ID Easting Northing Azimuth Dip depth (m)
------------- ------------ ----------------- -------- ----- -----------
ENON0029 593508 6880291 250 -65 400.00
------------ ----------------- -------- ----- -----------
Further information on the Laukunlampi mafic-ultramafic
intrusion
The Laukunlampi intrusion is located approximately 1.5 km along
strike to the south-east of the historic Enonkoski (Laukunkangas)
nickel-copper-cobalt mine. The Laukunkangas deposit was discovered
in 1969, although the high-grade ore was only discovered in 1980.
The mine was operated between 1985 to 1994 by Outokumpu Oy. The
Laukunkangas ore deposit occurred as many separate ore lodes hosted
within the ultramafic-mafic rocks of the eastern and northern
portions of the Laukunkangas intrusion. The ore types varied from
massive to semi-massive sulphide ores to sulphide droplets zones
plus strong sulphide dissemination hosted in peridotite and weak
sulphide dissemination hosted in norite. Typical ore minerals were
pyrrhotite, pentlandite and chalcopyrite. Some of the richest ore
occurred as off-set ore lodes outside of the intrusion, within the
mica gneiss or graphitic gneiss wall-rocks. A total of 6.7 million
tonnes at 0.78% Ni and 0.22% Cu was mined from the Laukunkangas
mine. The off-set massive ore graded over 5%, with Cu grades of up
to 2% and Co grades of up to 0.3%, whilst the lower-grade
disseminated ore typically contained 0.3-0.4% Ni (Geological Survey
of Finland, 2020).
Strong similarities between both the Laukunkangas intrusion
(that hosts the former mine of the same name) and Laukunlampi
intrusions have been recognised. Disseminated sulphides and
pyrrhotite-chalcopyrite-pentlandite droplets analogous to the
droplet ore at the Laukunkangas mine have been discovered at
Laukunlampi at several locations within the noritic-pyroxenitic
intrusion including the significant mineralised upper pyroxenite
zone in drill hole ENON0028 (as reported in our recent RNS dated 27
March 2023). No high-grade massive sulphides have yet been
discovered within the Laukunlampi mafic-ultramafic intrusion.
However, intervals with high amounts of sulphide droplets with high
nickel and copper tenors based on handheld pXRF measurements have
been discovered both close to the southern and northern contacts of
the intrusion and by far the highest nickel tenor to date has been
observed in drill hole ENON0028. In addition, significant widths of
noritic rocks with disseminated sulphides have been intercepted
with several drill holes.
Qualified Person
The scientific and technical disclosure included in this news
release has been reviewed and approved by Mr. Joshua Hughes MESci
(Hons), Vice President Exploration, and a full-time employee of
Bluejay Mining plc, who is also a Member and Chartered Professional
Geologist ("MAusIMM CP(Geo)") of the Australasian Institute of
Mining and Metallurgy, a Fellow of the Society of Economic
Geologists ("FSEG") and a Fellow of the Geological Society of
London ("FGS"). Mr. Hughes has performed data verification on all
information disclosed in this news release related to sampling and
analytical procedures, assay results and QA/QC. Mr. Hughes has
sufficient experience, relevant to the styles of mineralisation and
type of deposits under consideration and to the activity that he is
undertaking, to qualify as a Qualified Person ("QP") as defined by
the AIM rules, and for the purposes of National Instrument 43-101
("NI-43-101") Standards of Disclosure of Mineral Projects.
Market Abuse Regulation (MAR) Disclosure
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ('MAR') which has
been incorporated into UK law by the European Union (Withdrawal)
Act 2018.
For further information please visit
http://www.bluejaymining.com or contact:
Kevin Sheil Bluejay Mining plc enquiry@bluejaymining.com
------------------------------ --------------------------
Ewan Leggat/ Adam SP Angel Corporate Finance
Cowl LLP(Nominated Adviser) +44 (0) 20 3470 0470
------------------------------ --------------------------
Hannam & Partners (Advisory)
Andrew Chubb LLP +44 (0) 20 7907 8500
------------------------------ --------------------------
Tim Blythe/ Megan
Ray BlytheRay +44 (0) 20 7138 3205
------------------------------ --------------------------
About Bluejay Mining Plc
Bluejay is listed on the London AIM market and Frankfurt Stock
Exchange and its shares also trade on the OTCQB Market in the US.
With multiple projects in Greenland and Finland, Bluejay has now
secured four globally respected entities as partners on three of
its projects, and exploration expenditure of $37 million committed
on three key projects, giving the Company and its shareholders both
portfolio and commodity diversification in high quality
jurisdictions.
Bluejay's Dundas Ilmenite Project in Greenland, is fully
permitted and undergoing further optimisation work. The Company has
agreed a Master Distribution Agreement with a major Asian
conglomerate for up-to 340k tonnes per annum ('tpa') of its
designed 440ktpa annual output. The Company has also mandated a
major European bank to head the financing syndicate for Dundas.
Bluejay, through its wholly owned subsidiary Disko Exploration
Ltd., has signed a definitive Joint Venture Agreement with KoBold
Metals to guide exploration for new deposits rich in the critical
materials for electric vehicles (The Disko-Nuussuaq
nickel-copper-cobalt-PGE Project). Disko Exploration Ltd holds two
additional projects in Greenland - the 692 sq km Kangerluarsuk
zinc-lead- silver project, where historical work has recovered
grades of up to 45.4% zinc, 9.3% lead and 596 g/t silver and a
fully funded summer drill programme is to commence on multiple
large-scale drill ready targets; and the 920 sq km Thunderstone
project which has the potential to host large-scale base metal and
gold deposits.
In Finland, Bluejay currently holds three large scale
multi-metal projects through its wholly owned subsidiary FinnAust
Mining Finland Oy. The Company has a Joint Venture Agreement with
Rio Tinto at its Enonkoski nickel-copper-cobalt Project in East
Finland which has seen continued exploration and drilling since
June 2021. Bluejay's drill ready Hammaslahti
copper-zinc-gold-silver project hosts high-grade VMS mineralisation
and extensions of historical ore lodes have been proven. The drill
ready Outokumpu copper-nickel-cobalt-zinc-gold-silver project is
located on one of the world's most prolific geological belts which
hosts multiple high-grade deposits. Bluejay has also signed a
conditional agreement for a partial divestment in a fourth Finnish
project.
**ENDS**
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