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Bluejay Mining expands footprint in Greenland adding Thunderstone project

Published: 10:02 15 Apr 2020 BST

BlueJay Mining PLC - Bluejay Mining expands footprint in Greenland adding Thunderstone project

Bluejay Mining PLC (LON:JAY) has expanded its footprint in Greenland after it was awarded two licences spanning some 2,025 square kilometres.

The acreage - which is to be named The Thunderstone Project - is positioned near the southern tip of Greenland and it is described as being “highly prospective” for several commodities including gold, base metals and uranium.

Thunderstone is expected to complement the company's existing resource portfolio and further strengthens its leading position in Greenland.

READ: Bluejay signs ilmenite MOU with multinational company

"We are delighted to have been granted these two highly prospective licence areas, further building on our highly strategic portfolio and consolidating our leading position in Greenland's emerging mineral sector,” said Roderick McIllree, chief executive in a statement.

“Historical work at Thunderstone by the Geological Survey of Denmark and Greenland underpins its potential to host several commodities, including zinc, gold and uranium; with this in mind, it is a fantastic addition to our already exciting project portfolio in our country of expertise and with minimal initial holding costs.”

McIllree noted that the Bluejay team is already very familiar with the region, with several decades of combined expertise in the geology of South Greenland.

The new licence comes without work commitments for 2020, as the government of Greenland has recently approved terms for exploration licences in response to the impacts of the coronavirus pandemic.

The Bluejay chief executive, meanwhile, added that the group's "primary near-term focus remains on advancing our Dundas ilmenite project, finding the right partner for Disko-Nuussuaq and recommencing our field campaigns as soon as is practicable, for the benefit of our shareholders."

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