The Bluejay Mining PLC (LON: JAY) share price plunged 37.5% after issuing an update about the results of the 2022 Field Programme at the Disko-Nuussuaq Ni-Cu-Co-PGE-Au Project in Central West Greenland.
YOUR CAPITAL IS AT RISK. 76% OF RETAIL CFD ACCOUNTS LOSE MONEY.
The company noted that it had conducted a geophysical and geochemical survey of the project, gathering more data than was initially expected after Bluejay’s Joint Venture partner KoBold Metals increased its planned spending.
Searching for the Perfect Broker?
Discover our top-recommended brokers for trading stocks, forex, cryptos, and beyond. Dive in and test their capabilities with complimentary demo accounts today!
- eToro Top stock trading platform with 0% commission – Read our Review
- Admiral Markets More than 4500 stocks & over 200 ETFs available to invest in – Read our Review
- BlackBull 26,000+ Shares, Options, ETFs, Bonds, and other underlying assets – Read our Review
YOUR CAPITAL IS AT RISK. 76% OF RETAIL CFD ACCOUNTS LOSE MONEY
Bluejay Mining also revealed that the geophysical surveys supported existing targets and identified new areas of interest. In addition to known targets, the Falcon® Airborne Gravity Gradiometer (‘AGG‘) surveys have identified 9 strong gravity (± magnetic) anomalies.
The new anomalies may represent previously unrecognised mafic-ultramafic intrusions of comparable size to the host intrusions of many world-class magmatic Ni-Cu sulphide deposits. A robust early-time SAMSON and HeliSAM electromagnetic (EM) anomaly, c. 600 x 900 metres in size, has been identified within the Qullissat intrusion at shallow depth.
The geochemical surveys have provided independent verification of geophysical targets. Anomalous Mobile Metal Ions (‘MMI‘) soil geochemistry for nickel (‘Ni‘), copper (‘Cu‘), cobalt (‘Co‘), platinum (‘Pt‘), palladium (‘Pd‘), gold (‘Au‘), selenium (‘Se‘), tellurium (‘Te‘) and chromium (‘Cr‘) at Aaffarsuaq Valley, Qullissat and Igdlukunguaq.
The above elements support the presence of magmatic sulphide mineralisation and provide further independent validation of geophysical drill targets at these localities.
Dr Bo Møller Stensgaard, the Bluejay Mining CEO, commented: “We're delighted to report the results of our first JV exploration campaign with KoBold, which has considerably advanced our understanding of several key targets at Disko-Nuussuaq, most notably at Qullissat, within the Aaffarsuaq Valley and along the northern coast of Disko Island. The large volume of new data collected in 2022 represents one of the most aggressive and extensive data-gathering campaigns ever completed at Disko-Nuussuaq.”
“Results from the in-depth analysis of the 2022 data continue to excite us and, when integrated with historical data and observations, provide us with a very strong foundation for planning future campaigns. Not only has it presented us with a greater ability to evaluate our degree of confidence in already identified drill targets – it has also generated new targets and areas of interest.”
Bluejay Mining (JAY) share price.
The Bluejay Mining share price plunged 37.5% to trade at 0.60p, from Wednesday’s closing price of 0.96p.
YOUR CAPITAL IS AT RISK. 76% OF RETAIL CFD ACCOUNTS LOSE MONEY.