Bluejay plans survey over wholly-owned Kangerluarsuk project
Bluejay Mining updated the market on its wholly-owned Kangerluarsuk zinc-lead-copper-silver project in central-west Greenland on Tuesday.
The AIM-traded firm said a survey was planned to cover 587-line kilometres of aerial gravity gradiometer, gravity and magnetics, to further refine its targets ahead of drilling.
It said the survey was expected to start in July and take about seven days to complete, using service providers already working on projects in the broader region.
Kangerluarsuk, around 12 kilometres north of the historic Black Angel zinc, lead and silver mine - Greenland's most profitable - has never been drilled, the company noted.
Work by previous operators produced channel results of up to 41.1% zinc and 45.4% lead, and grab samples of up to 9.3% lead, 1.2% copper, and 596 grams of silver per tonne.
Kangerluarsuk covers a total area of about 700 square kilometres over two separate licences.
“We are excited to commence these airborne surveys at Kangerluarsuk,” said chief executive officer Bo Møller Stensgaard.
“Historical mapping and sampling demonstrates similar geology to the Black Angel mine to the south and work by previous operators identified several areas of outcropping and significant zinc, lead, silver copper mineralisation.”
Møller Stensgaard said the data acquisition would make use of a platform already operating in the region.
“This will result in a quick and cost-effective survey and represents a confirmatory programme complementing existing chemical and geophysical data in advance of a future drilling campaign.”
At 1237 BST, shares in Bluejay Mining were up 2.83% at 5.18p.
Reporting by Josh White at Sharecast.com.