Skip to main content
  • Register
  • Help
  • Contact us

Bluejay announces maiden drill programme at Enonkoski

Mon 26 April 2021 15:50 | A A A

No recommendation

No news or research item is a personal recommendation to deal. Hargreaves Lansdown may not share ShareCast's (powered by Digital Look) views.

(Sharecast News) - Greenland and Finland-focussed exploration and development company Bluejay Mining announced the maiden drill and field programme at the Enonkoski nickel-copper-cobalt project in eastern Finland on Monday, with its joint venture partner Rio Tinto, as part of the joint-venture & earn-in agreement.

The AIM-traded firm said a diamond drill programme, targeting 3,000 metres, was scheduled to start next month.

It said the programme would test several geophysical targets in the Tevanjoki and Laukunsuo areas for mineralisation within the Enonkoski project area.

The targets were supported by base of till nickel anomalies, as well as historical observations of mineralised noritic outcrops and boulders similar to the rocks found at the rock package at the nearby former Laukunkangas nickel-copper-cobalt mine.

Drilling result assays would be conducted by ALS, and evaluated by the joint venture partners.

A detailed unmanned aerial vehicle magnetic survey over an area south east of the past-producing Laukunkangas mine was completed in mid-April.

The newly acquired magnetic data was currently being processed and interpreted ahead of the drilling.

Additional exploration activities within the Enonkoski project area were planned for the summer and autumn of 2021, the board added.

It said all exploration activities were being conducted with "strict" Covid-19 protocols in place.

"Our collaborative work with the Rio Tinto team involved in the project is progressing well, and investigations have led to some appealing near-mine targets that will now be tested through drilling," said chief executive officer Bo Møller Stensgaard.

"While entering this initial drilling, the evaluation of other high potential areas of the more-than-15 kilometre-long Enonkoski project area will continue.

"While Bluejay's focus and resources remain on progressing the Dundas ilmenite project to construction and production, I am pleased with the Enonkoski joint venture programme unfolding in the background."

Møller Stensgaard said the drilling programme was an "important recognition" of the quality of the company's project portfolio, in both Greenland and Finland.

"There remains a high level of interest in many of our battery metal projects and we remain confident in advancing those further for the benefit of our shareholders.

"We look forward to updating the market with the results at Enonkoski and further information on the progress at our other assets in due course."

At 1406 BST, shares in Bluejay Mining were down 2.57% at 8.9p.

    The value of investments can go down in value as well as up, so you could get back less than you invest. It is therefore important that you understand the risks and commitments. This website is not personal advice based on your circumstances. So you can make informed decisions for yourself we aim to provide you with the best information, best service and best prices. If you are unsure about the suitability of an investment please contact us for advice.

    More AIM news from ShareCast

    No results were found