03:00 Mon 21 Oct 2019
Bluejay Mining PLC - Kangerluarsuk - Exploration Licence Application
Application for an additional Exploration Licence at the
ahead of planned maiden drill programme
To view the announcement with the illustrative maps and diagrams, please use the following link: http://www.rns-pdf.londonstockexchange.com/rns/4613Q_1-2019-10-20.pdf
Summary:
· Extensive field work and sampling carried out during 2019 to refine drill targets and identify optimal drill site locations.
· A 6-hole maiden drill programme has been finalised to test multiple large and high-grade zinc-lead-copper silver ('Zn-Pb-Cu-Ag') targets during early 2020.
o The first time Kangerluarsuk will have been drill-tested in spite of significant and extensive outcropping base metal mineralisation throughout the Project.
· Focus will initially be on drilling several large and highly conductive bodies identified by previous private sector operators and government bodies.
o These conductive bodies are coincident with intense surficial geochemical anomalies as well as outcropping high-grade mineralisation.
· Licence application and drill programme brings further consolidation of Bluejay's dominant position in
o Application lodged for additional coverage of 586km2 that will expand the existing area held at Kangerluarsuk by more than five-fold to 692km2.
· New Licence area under application has only received surficial evaluation and aerial geophysical surveys to date;
o Combined area has returned historic surface samples of 41% Zn, 9.3% Pb, 1.2% Cu and 596 g/t Ag, combined, more than 50% metal.
· Potential further discoveries supported by extensive stream sediments and heavy mineral concentrates that are highly anomalous in Zn, Pb, Cu and Ag, all indicating the presence of poly-metallic deposits.
"Drilling Kangerluarsuk will be a low-cost conventional programme that is planned to be executed in conjunction with drilling Disko next season in 2020. This will provide synergies across both projects given their relatively close proximity, and the fact they will use the same equipment will provide significant savings across our logistics supply chain. From geochemical to geophysical, every indicator aligns here, and in addition to this there is outcropping mineralisation grading more than 50% combined valuable metals. With this in mind I believe we have another great opportunity to create significant value for our shareholders as we move towards drilling. I look forward to updating our shareholders on this exciting Project in due course as well as progress being made at Disko and Dundas."
The Company's existing 106 km2 Exploration Licence (MEL 2011/31) at Kangerluarsuk is acknowledged as the strongest cluster of stream sediment zinc anomalies in
The known Zn-Pb-Ag (± Cu) mineralisation is hosted by ferruginous horizons in graphitic schist within the Qaarsukassak Formation (a newly defined informal unit). Mineralisation generally occurs within 10s of metres of the basement contact. The Archaean basement gneisses in the Kangerluarsuk area were heavily incised during the Palaeoproterozoic creating palaeo-valleys which were in-filled by siliciclastic and carbonate rocks of the Qaarsukassak Formation. This formation correlates well with the Mârmorilik Formation to the south that hosts the former Black Angel mine and is conformably overlain by the Nûkavsak Formation, a thick package of turbidite facies, metagreywackes.
Bluejay acquired the
A 348 line-km helicopter-borne audio frequency magneto-variational (AFMAG) survey using the ZTEM (Z-Axis Tipper electromagnetics) system identified several highly conductive bodies close to the modelled basement contact. Three of the conductive bodies correspond to the strongest surface geochemical anomalies and are considered the highest priority drill targets. Thus, independent methods have been combined to pinpoint drill-targets that are now ready to be tested.
A research initiative on the
The New Licence Area:
The new Licence area currently under application, totalling 586km2, surrounds the Company's existing Exploration Licence (MEL 2011/31) and is focused on the peninsulas of Alfred Wagener Halvø (Greenlandic: Appatsiaat Qaqqarsui) and Qiioqi (Fig. 1).
The area was selected based upon;
1. Proximity to known mineralisation within the existing Licence;
2. Stream sediment and heavy mineral concentrates ('HMC') that are highly anomalous in Zn, Pb, Cu and Ag, suggesting the presence of poly-metallic mineralisation, supported by elevated pathfinder elements such as Cd, As and Cs;
3. The mapped distribution of the Nûkavsak Formation, on the premise that all known mineralisation is located at the base of this unit within the Qaarsukassak Formation, close to the unconformable contact with basement gneisses;
4. The presence of strongly mineralised rock samples.
Despite only being subject to minimal exploration to date, historic sampling at Alfred Wagener Halvø by RTZ/Platinova in the early 1990s returned samples up to 14% Zn, 9.3% Pb and 92 g/t Ag (Fig. 1). In addition, the new area will also provide the Company with a buffer around the existing
Figure 1. Geological map showing the location of
the surrounding new Licence area (currently under application).
Planned 2020 Work Programme at the Kangerluarsuk Licences:
Logistical planning is now underway to prepare for a maiden diamond drill programme at Kangerluarsuk which has been scheduled for summer 2020. This will test several high-priority drill targets at depths of 350 to 1200 metres. Significantly, this will be the first time that the property has been drill-tested.
Bluejay is now in dialogue with drilling contractors who have both the helicopter portable diamond drill rigs and operational experience required to successfully execute this programme. The Company is also in dialogue with a consultancy specialising in structural modelling to refine the existing model for the depth of the basement contact throughout the Licence area, and the positioning of the conductive bodies identified from ZTEM, relative to this surface. This will further sharpen the Company's drilling strategy ahead of the field season.
Subject to successful granting of the new Licence area, the wider Zn-Pb-Ag (±Cu) potential of the area will be tested through a focused campaign of stream sediment, scree sediment and HMC geochemistry and rock sampling.
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
**ENDS**
For further information please visit http://www.bluejaymining.com or contact:
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+44 (0) 20 7907 9326 |
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(Nominated Adviser) |
+44 (0) 20 3470 0470 |
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(Nominated Adviser) |
+44 (0) 20 3470 0470 |
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+44 (0) 20 7907 8500 |
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+44 (0) 20 7236 1177 |
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+44 (0) 20 7236 1177 |
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