LONDON: Bluejay Mining plc, a company listed on AIM, FSE, and traded on the Pink Market, has announced the acceptance of their application to expand the Mineral Exploration Licence 2015-08 for their Dundas Ilmenite Project in Greenland. The expansion, which will increase the licence area from 86 km² to 2,833 km², includes high-grade sedimentary hosted copper showings.
Licence Expansion: The licence area will grow significantly at no additional cost, utilizing existing exploration credits from a review that began in 2019.
Copper Showings: The area encompasses the Cominco Gossan with 1% Cu over a 34m width, the Hill 620 Showing with up to 0.83% Cu, and existing copper showings within the original Dundas licence’s dolerite dykes.
Mineral Potential: The Thule Basin, known for its underexplored mineral potential, shows promising signs with ore-grade samples exceeding 10% copper.
Infrastructure and Strategy: Bluejay’s established infrastructure at Moriusaq will support cost-effective exploration. The expansion aligns with the company’s strategy to secure high-quality copper and industrial gas projects.
Future Exploration: A 2024 field program with helicopter-supported geological reconnaissance is planned.
The expansion positions Bluejay alongside major mining companies like BHP, indicating a growing interest in arctic frontier exploration.
Eric Sondergaard, Managing Director, commented: “This acquisition represents a strategic opportunity within a region that we already have a dominant footprint. This project has seen very limited systematic exploration for its copper in more than 50 years. This project has been identified as being strategically located for large scale deposits of copper metal.
As a demonstration of the teams’ capabilities the Thule Copper will incur virtually no cost to the company over the coming years due to previous expenditure at Dundas and coupled with our existing exploration camp provides us with unparalleled and dominant access to the entire region. We note with high interest the endeavours of industry giants like BHP, who are now appearing at scale in the northern latitudes in search of copper.
Copper is seen as remaining in deficit for the next 5 years and we are positioning the Company to take advantage of what will be a highly supportive environment for copper developers.
The Thule Copper project represents a massive opportunity for shareholders not just for immediate exploration success, but also as potential for long-term M&A for strategic early movers as these new regions transform into strategic geopolitically competitive hubs. “
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