Maiden Campaign For Geological Hydrogen and Helium
13/08/2024 07:00
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RNS Number : 1603A Bluejay Mining PLC 13 August 2024
13 August 2024
Bluejay Mining plc / Ticker: JAY / Market: AIM / Sector: Mining
Bluejay Commences Maiden Campaign For Geological Hydrogen and Helium at
Outokumpu
Bluejay Mining plc ('Bluejay' or the 'Company'), the AIM, FSE listed and
Pink-Market traded exploration and development company with projects in
Greenland and Finland, is delighted to announce the start of low-cost &
wide ranging work programmes to evaluate possible significant deposits of
geological hydrogen and helium (including other industrial gas) in the
Outokumpu Belt. This work stream will include integrating all historical data
including seismic.
Previously Identified Significant Findings:
· High Gas Concentrations: Historical deep drilling within the
Outokumpu Belt, as reported by the Geological Survey of Finland (GTK), has
revealed substantial concentrations of helium and hydrogen. Notably, the best
intersection shows 100 meters at 5.6% helium within a broader 1,500-meter
intercept at 1.5% helium
· Newly identified Results also include 80m @ 5.03% lithium
(50,300mg/l) in deep brines within a larger section of 580m@ 1.16% lithium
(11,623mg/l). By way of comparison brines from the "Lithium Triangle"
(Argentina, Chile, and Bolivia). The Salar de Atacama in Chile have an average
lithium concentration of about 0.14% lithium or 1400ppm
· Comparative Geology: The Outokumpu Belt's geology is similar to
the Lorraine region in France, which hosts the world's largest known deposit
of white hydrogen
· Deep Drilling Success: Gas samples from a 2480-meter-deep drill
hole, analysed by the GTK, has revealed up to 46% geological hydrogen,
highlighting the belt's potential for industrial gas reserves
· Extensive Historical Data: >2000 historical drill holes
provide robust foundation for fast-tracking gas assessment across the
40-kilometer licence holding
Upcoming Exploration Program:
Surface Sampling: Historical drill hole and surface sampling will be
undertaken using a portable hydrogen and helium detector to measure
concentrations of these gasses. This program will also aid in assessing the
location and condition of historical drillholes for further sampling.
Water Sampling: Water samples will be collected from a selection of deep
boreholes and analysed for hydrogen, helium, and other gases, establishing a
baseline for gas presence and concentration.
Flowmeter Testing: Groundwater flow rates will be measured to identify
water-conductive fractures, aiding in locating potential gas-rich zones.
Pumping Tests: Pumping tests will be conducted to understand the
hydrogeological structures and flow characteristics, crucial for estimating
recoverable gas volumes and production rates.
Packer Testing: Specific borehole sections will be isolated to measure water
flow and rock integrity, identifying permeable zones that could contain
hydrogen and helium.
Borehole Magnetic Resonance (BMR): BMR logging will measure formation porosity
and water volume, providing detailed geophysical data to enhance
hydrogeological models and improve gas potential understanding.
Eric Sondergaard, Managing Director of Bluejay Mining, commented:
"These encouraging but preliminary indications of helium, hydrogen and
industrial gasses in the Outokumpu Belt are very encouraging. They present a
significant opportunity for shareholders. We have started dialogue with
European groups with regards to progressing future work streams in a manner
that is not dilutive to existing shareholders. We will update stakeholders
accordingly, in the meantime, work program details are currently being devised
in close collaboration with local experts and regulators. This first pass
evaluation of surface expressions of naturally occurring helium and hydrogen
will allow us to assess the conditions of existing boreholes, and focus
further phases of work. This encouraging opportunity is made possible by the
vast datasets of high-quality historical data the Company has absorbed
recently and the availability of numerous pre-existing deep drillholes,
positioning us to potentially unlock substantial value for our shareholders
for minimal cost and no dilution."
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
(http://www.bluejaymining.com) or contact:
Eric Sondergaard Bluejay Mining plc enquiry@bluejaymining.com
Ewan Leggat / Adam Cowl SP Angel Corporate Finance LLP +44 (0) 20 3470 0470
(Nominated Adviser and Joint Broker)
Harry Ansell Zeus Capital +44 (0) 7785 266666
Map of Outokumpu Tenement Belt
Figure 1.. Outokumpu Belt current tenement status with historic drillhole
collar and mine locations
Hydrogen and Helium Potential in the Outokumpu Belt
The Outokumpu belt is renowned for its rich geological deposits, historically
yielding approximately 34.4 million tonnes of ore at significant grades of
copper, zinc, cobalt, and nickel from the Outokumpu-Keretti and Vuonos mines.
The belt is characterized by its unique Outokumpu assemblage, a complex
package of hydrothermally altered mantle-derived rocks (ophiolites) often
enveloped by graphitic and sulphidic black schists.
Significant findings from the Outokumpu Deep Drillhole highlight the belt's
potential for Hydrogen and Helium. Notably, historical measurements indicate
up to 46% hydrogen in groundwater samples and an average helium concentration
of 1.54% over a 1,500-meter interval, with peak values reaching 5.60% over a
100-meter section. The geological context of the Outokumpu
assemblage-comprising hydrothermally altered mantle-derived ultramafic rocks
(ophiolites) and enveloped by graphitic and sulphidic black schists-supports
the exploration of these gases. With over 2,000 historical drillholes, many
extending beyond 1,000 meters, the belt offers substantial opportunities for
further exploration.
Figure 3. Helium, Argon, Lithium Results with Geophysical interpretation,
modified from "Characterisation and Isotopic evolution of saline waters of the
Outokumpu Deep Drill Hole, Kietäväinen 2013"
References
Riikka Kietäväinen, L. A. 2013. Characterisation and isotopic evolution of
saline waters of the Outokumpu Deep Drill Hole, Finland - Implications for
water origin and deep terrestrial biosphere. Applied Geochemistry, Volume 32,
37-51.
Kukkonen, I. T., Rath, V., Kivekäs, L., Šafanda, J. & Čermák, V. 2011.
Geothermal studies of the Outokumpu Deep Drill Hole. Geological Survey of
Finland, Special Paper 51, 181-198.
Kukkonen, I. T. 2011. Outokumpu Deep Drilling Project 2003-2010. Geological
Survey of Finland, Special Paper 51, 252 pages.
About Bluejay Mining plc
Bluejay Mining plc, listed on the London AIM market, Frankfurt Stock Exchange,
and the U.S. Pink Market, is an exploration and development company focused on
high-grade critical metals in Tier 1 jurisdictions. With a diversified
portfolio in Greenland and Finland, Bluejay's strategy is centred on advancing
key projects while creating value through partnerships and strategic
acquisitions.
The Disko-Nuussuaq nickel-copper-cobalt-PGE project in Greenland is a primary
focus for Bluejay, developed in partnership with KoBold Metals. Bluejay,
through its wholly owned subsidiary Disko Exploration Ltd., has a definitive
Joint Venture Agreement with KoBold Metals to guide and fund exploration
efforts. The JV has completed intensive analysis and interpretation of the
extensive geochemical, geophysical, and geological data collected during the
previous exploration campaigns. Leveraging KoBold's proprietary artificial
intelligence and machine learning platforms, this comprehensive analysis has
resulted in the identification of seven initial priority targets within the
project area. These seven priority targets exhibit spatial characteristics
indicative of potential deposits on a scale comparable to renowned mining
operations such as Norilsk, Voisey's Bay, and Jinchuan. The JV is now planning
a focused ground-loop electromagnetic survey to refine and prioritize each
locality appropriately.
Bluejay's recent acquisition of White Flame Energy expands its portfolio into
the energy sector, adding large-scale licenses for industrial gas, natural
gas, and liquid hydrocarbons in East Greenland. Approved by shareholders in
July 2024, this acquisition diversifies the company's assets and aligns with
its strategy to contribute to sustainable energy solutions, while also
exploring conventional energy resources.
The Dundas Ilmenite Project, Bluejay's most advanced asset in northwest
Greenland, is fully permitted and progressing towards near-term production.
With a JORC-compliant Mineral Resource of 117 Mt at 6.1% ilmenite and an
offshore Exploration Target of up to 530 Mt, Dundas is poised to become a
major supplier of high-quality ilmenite. Recent discoveries of hard rock
titanium mineralization, with bedrock samples showing nearly double the
ilmenite content of previous estimates, further enhance the project's
world-class potential. Bluejay owns 100% of the Dundas Ilmenite Project under
its subsidiary Dundas Titanium A/S in Greenland.
The Thule Copper Project is a significant component of Bluejay Mining's
portfolio in northwest Greenland, focused on exploring and developing
high-grade copper deposits within the Thule Basin in northwest Greenland.
Leveraging existing infrastructure and exploration credits, the project is
strategically positioned in an underexplored region with substantial mineral
potential. Bluejay's established basecamp at Moriusaq will support
cost-effective exploration, aligning with the Company's broader strategy to
secure high-quality copper and industrial gas projects.
In Finland, Bluejay currently holds three large scale multi-metal projects
through its wholly owned subsidiary FinnAust Mining Finland Oy. Bluejay's
Finland portfolio includes the Outokumpu project, where the discovery of
industrial gases like helium and hydrogen adds significant economic potential
to the already prospective copper-nickel-cobalt-zinc-gold-silver targets.
Bluejay is planning further exploration to fully assess these resources.
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