Bluejay Mining completes maiden 2017 field work programme at Disko

Greenland and Finland-focussed Bluejay Mining has completed its maiden 2017 field work programme at the 100%-owned Disko nickel, copper, cobalt and platinum project in West Greenland, it announced on Friday.

The AIM-traded company said surface sampling confirmed a working sulphide system with initial chemical assays in oxidised surface material returning 2.02% nickel, 0.8% copper and 0.2% cobalt.

Handheld XRF sampling on fresh, polished material returned values averaging between 4.6% and 9.3% nickel and 1.5 to 2.8% copper.

Bluejay said the primary objective of the Disko 2017 work programme was to identify drill targets, with work focussed on southern licence area - Area 1 at the Kugg Project.

It said it completed a moving loop, high powered electromagnetic (MLEM) survey, which was designed to test low resistivity targets identified by previous licensees.

EM results were currently the subject of detailed evaluation and assessment by the company and its advisors, the board said.

The company said the fresh sample taken from outcrops showed characteristics indicative of large scale Ni-Cu-Co-PGE sulphide segregation, with coarse-grained inter-locking crystals of metal sulphides observed in hand specimens, at an average size of at least 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 of the Illug Project, located on the northern peninsula, was continuing, with Bluejay saying the work had already identified numerous additional targets, as well as confirming historically-identified anomalies.

Additional large coincident gravity, magnetic and conductor anomalies were identified in the new licence areas, the board said.

Results from the 2017 exploration work, together with historical data, would continue to be assessed in the coming months to refine targets for future exploration work, with a standalone exploration programme planned for 2018 to advance project understanding in the firm’s recently-enlarged licence area, now comprising 970 square kilometres.

The company said it was continuing to assess options to maximise shareholder value at Disko, Kangerlussuaq and Finland.

“We have long held great optimism for Disko,” said Bluejay CEO Roderick McIllree.

“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.”

McIllree said the chemical assays of 2.02% nickel, 0.8% copper and 0.2% cobalt returned from surface and much higher-grade material observed via handheld XRF, as well as the “extremely coarse” crystals, all pointed to a long and slow baking process, which was 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,” McIllree concluded.