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13/06/2024
Mining News

BlueJay Mining Provides Update On Its Outokumpu Project

What’s Going On With BlueJay Mining Plc?

BlueJay Mining Plc (BLLYF) today announced that it’s wholly-owned subsidiary, FinnAust Mining Finland Oy FinnAust, has defined five initial drill targets for gold and silver on the Outokumpu Belt. Shares of the company were trading 4.52% lower to $0.148 a share on Friday.

What Does This Mean For BlueJay Mining Plc?

The first stage will focus on the Haapovaara target, located north of the historical Kylylahti mine and the Haaponiemi target. Bluejay is now the largest license holder on the Outokumpu Belt, which was previously operated by Boliden. Exploration to date has been carried out in the upper or more shallow parts of the Belt and BlueJay is currently pursuing partner opportunities.

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“Owing to the recognition of Finland as a premier mining jurisdiction, over the last year we have experienced an exponential increase in interest over our Finnish portfolio. This resulted in Bluejay signing a US$20 million Joint Venture Agreement with one of the world’s largest mining companies for the Enonkoski nickel-copper project in December 2020. Recent data compilation and interpretation for our Outokumpu Project has generated multiple drill-ready exploration targets, supported by several independent geophysical and geological datasets, in this prolific metallogenic belt”, said Bo Stensgaard, CEO of Bluejay Mining.

Bluejay Mining plc, together with its subsidiaries, engages in the exploration and development of precious and base metals in the United Kingdom, Greenland, and Finland.

Bluejay Mining PLC is a UK based company, together with its subsidiaries is engaged in the exploration and development of precious and base metals. It explores copper, nickel, and zinc minerals. All the business activity of the group is operated through various geographical regions which include Greenland, Finland, and the UK. The company works on various projects which include Kangerluarsuk, Outokumpu Copper, Hammaslahti Copper-Gold-Zinc, and Enonkoski Nickel-Copper.

Source: Investors Observer

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