Bluejay Mining Found Helium and Hydrogen at Outokumpu Project, Finland

Bluejay Mining plc, a publicly listed exploration and development firm on AIM, FSE, and the Pink Market, has uncovered substantial concentrations of helium and hydrogen gases at its Outokumpu Project in Finland. This discovery follows a comprehensive assessment revealing previously overlooked potential within the region's serpentinized ophiolites and related geological structures, particularly highlighted by deep drilling conducted by the Geological Survey of Finland (GTK) in the Outokumpu Deep Drillhole. Independent studies affirm the significant presence of these gases, marking a promising development within the Outokumpu Belt area.

A systematic evaluation of historical government drilling data has identified significant concentrations of industrial gases, including helium and high-purity hydrogen, within the Outokumpu Belt. Notable findings include an impressive intersection of 100 meters yielding 5.6% helium, within a broader 1500-meter intersection averaging 1.5% helium. This deposit exhibits geological similarities to the world's largest known white hydrogen deposit recently discovered in France, estimated at up to 46 million tonnes of carbon-neutral fuel. Situated in a geological setting akin to the Outokumpu Belt, specifically in France's Lorraine region, this newly identified gas province has further revealed substantial concentrations of argon, xenon, krypton, and dominant hydrogen up to 46% in gas samples obtained from saline groundwater within the Outokumpu Deep Drillhole, which reached depths of 2480 meters.

Bluejay Mining plc, through its subsidiary FinnAust, holds exploration permits encompassing the gas-rich Outokumpu Belt, characterized by unique geological formations such as serpentinized ophiolites and pegmatitic granites. These formations offer multiple prospective sources for generating White Hydrogen and helium gases.

The region benefits from a robust dataset of over 2000 historical drillholes, some exceeding depths of 1000 meters, facilitating expedited evaluation of subsurface industrial gas potential throughout the Outokumpu Belt. Current exploration licenses prioritize gas exploration, ensuring a streamlined regulatory process. White Hydrogen production costs are significantly lower compared to "Green" Hydrogen derived from wind and solar power, aligning with Finland's objectives to bolster energy security within a circular economy framework.

The company plans to systematically assess historical drillholes to identify prime locations for industrial gases such as hydrogen and helium. This approach includes re-entering these drillholes to conduct thorough testing using advanced equipment, which offers significant cost savings compared to new drilling and minimizes environmental impact. The findings will be analyzed alongside historical and newly acquired seismic data to pinpoint areas with the highest potential. This strategic evaluation aims to enhance exploration efficiency and guide future development efforts at the Outokumpu Project in Finland, optimizing resource allocation and maximizing the project's geological insights.