Bluejay Mining discovers significant helium and hydrogen deposits at Outokumpu Project in Finland

Bluejay Mining plc, a company listed on AIM, FSE, and traded on the Pink Market, has announced a significant discovery at its Outokumpu Project in Finland. Following a detailed review of historical drilling data conducted by the Geological Survey of Finland (GTK), significant concentrations of helium and hydrogen gases have been identified, indicating substantial industrial gas potential within the region known as the Outokumpu Belt.

The systematic review unveiled that the best intersection recorded significant helium levels of 5.6% within a broader intersection of 1500 meters averaging 1.5% helium. This revelation places the Outokumpu Project on par with some of the world’s largest known deposits, including a recent significant discovery in France’s Lorraine region, which is estimated to contain up to 46 million tonnes of White Hydrogen, a carbon-neutral fuel.

Further sampling from the Outokumpu Deep Drillhole, which reached a depth of 2480 meters, revealed high concentrations of other industrial gases such as argon, xenon, krypton, and notably, White Hydrogen, with hydrogen levels in some samples reaching up to 46%. The unique geological makeup of the Outokumpu Belt, characterized by serpentinized ophiolites and pegmatitic granites, is credited for these substantial gas reserves.

Armed with over 2000 historical drill holes, some extending beyond 1000 meters, Bluejay is well-positioned to fast-track the assessment of these gas resources. The company plans to systematically reassess these historical drillholes using modern, accurate equipment, which presents significant cost savings compared to new drilling endeavors and minimizes environmental impacts.

Eric Sondergaard, Managing Director of Bluejay, expressed optimism about the findings: “The preliminary indications of hydrogen and helium within the Outokumpu Belt are highly encouraging and present a transformative, organic low-cost opportunity for Bluejay shareholders. Leveraging our historical exploration data and collaborating with geological experts and regulatory authorities, we aim to unlock significant value from these potential industrial gas resources.”

The discovery of helium and hydrogen in such concentrations could significantly impact Finland’s energy strategy, particularly in enhancing energy security within a circular economy. Helium, with its extensive applications in medical and industrial fields, and hydrogen, particularly White Hydrogen, which can be produced more cost-effectively than Green Hydrogen (derived from wind and solar), offer promising alternatives for sustainable energy solutions.

Bluejay’s current exploration licenses include gas exploration, ensuring a streamlined regulatory pathway for further development. The company is also exploring state-sponsored funding opportunities that could accelerate the development of these gas deposits, potentially with support from the European Union, though details on the prospective gas volumes and funding levels are yet to be confirmed.

This development not only diversifies Bluejay’s resource portfolio but also positions the company at the forefront of the geological hydrogen/helium movement in Finland. As the global demand for sustainable and cost-effective energy solutions grows, Bluejay’s strategic pivot to include the exploration and development of industrial gases could redefine its market standing and shareholder value.