The Outokumpu licence covers the majority of the north-south trending Outokumpu Copper Belt, which has produced several high-grade copper mines, including the world famous Outokumpu Copper mine which produced 57mt @ 3.1% Cu + polymetallic credits between 1908-1988.
6 drill ready targets have been identified to date, which the Company views as having good potential for hosting high grade copper along strike from and immediately adjacent to the aforementioned Outokumpu Copper mine.
The projects are located in a prolific geological belt in south east Finland, in a prime exploration region where local operators such as ASX listed Altona Mining Limited have delivered positive results (the Kylylahti mine was acquired by Swedish mining company Boliden AB for US$95 million in 2014).
Finland is one of the largest producers of nickel, copper, chromite, copper and zinc in Europe and has a vibrant mining and exploration industry. With a pro-mining government, low sovereign, and a highly skilled mining workforce available, the country is an attractive investment destination.
Hammaslahti is considered prospective for volcanogenic massive sulphide (‘VMS’) mineralisation. The historic Hammaslahti mine exists within the Company’s licence area; total run of mine production was ±10Mt at an average grade of 1.16% copper, 1.55% zinc, 0.59 g/t gold and 5.2 g/t silver (operational between 1973 and 1986, initially developed as an open pit mine before being expanded underground).
Enonkoski includes a previously producing nickel-copper mine, which reportedly produced 6.7Mt at an average grade of 0.8% of nickel (‘Ni’) between 1984 and 1994. Bluejay has confirmed extensions and repeats of high grade nickel, copper and PGE mineralisation 2km south east of the old Enonkoski Mine, with best historic drill intercepts include 15m @ 6.9% Ni, 2.0% of copper (‘Cu’) and 0.33% of cobalt (‘Co’).