London-listed Bluejay Mining (AIM:JAY) reported ‘highly encouraging’ assay results from its first geochemical survey undertaken at the Disko-Nuussuaq project in Greenland.
Geophysical and geotechnical analyses were completed in October 2019 at the nickel-copper-platinum-cobalt-gold project.
Mobile Metal Ions and Spatiotemporal Geochemical Hydrocarbon (SGH™) surveys identified multiple nickel and copper geochemical anomalies, this morning’s statement outlined.
This further enforced both new and pre-existing anomalies, the Finland and Greenland centric exploration group told investors.
“These results are the first large scale systematic geochemical evidence of mineralising systems at Disko and further support the existence of metal bearing mineralising systems,” said Bluejay’s Chief Executive, Roderick McIllree.
Shares in Bluejay Mining were trading 7.51% higher at 8.407p on Tuesday morning.
The SGH™ results demonstrated nickel and copper mineralisation coinciding with the company’s defined drill-targets at Disko, the statement highlighted.
Meanwhile, a licence expansion has now increased Bluejay’s total land position at Disko to 2,897 km2, whilst a new mineral exploration licence has added further acreage.
The new ground, described as “strategically located”, covers a highly prospective area in central Disko and adheres to the group’s policy of holding drill accessible acreage with limited basaltic cover.
“Our decision to further increase our licence holdings is testament to our confidence in the district-scale prospectivity and discovery potential of the area,” McIllree added.
Bluejay also holds the 692 sq-km Kangerluarsuk zinc-lead-silver project in Greenland where historical work has identified several large-scale drill ready targets.
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