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Highlights
· Systematic review of historical government drilling has indicated the presence of substantial industrial gas including helium and white hydrogen concentrations within the Outokumpu Belt.
· Best intersection recorded was of 100m at 5.6% helium (within an intersection of 1500m, at 1.5% helium).
· Deposit is comparable in formation and structure to the world's largest known deposit of white (or geological) hydrogen ('White Hydrogen'), which was recently discovered in France, with estimates suggesting up to 46 million tonnes of the carbon-neutral fuel in the French deposit. This newly discovered gas province is located in the Lorraine region, a French mining region similar in nature geologically to the Outokumpu Belt.
· Gas sampling from the Outokumpu Deep Drillhole, which reached a total depth of 2480 meters, revealed high concentrations of other naturally forming industrial gasses such as argon, xenon, krypton, White Hydrogen and helium (with hydrogen being the dominant gas) returning results up to 46% hydrogen in gas samples taken from various saline groundwater samples.
· The Outokumpu Belt's unique geological composition, including serpentinized ophiolites and pegmatitic granites, hosts multiple potential sources for the generation of White Hydrogen and helium gases. Bluejay, through its wholly-owned subsidiary FinnAust, has exploration permits covering this gas-rich ophiolite belt.
· Over 2000 historical drill holes, some exceeding depths of 1000 meters, provide a comprehensive foundation to fast-track the assessment of subsurface industrial gas across the Outokumpu Belt.
· Current exploration licenses include gas exploration, ensuring a streamlined regulatory pathway. White Hydrogen can be produced at a fraction of the cost of "Green" Hydrogen (produced using wind and solar power), that could then potentially be integrated into Finland's goal to enhance energy security within a circular economy
The Company will now begin to systematically assess historical drillholes for the most prospective occurrences of industrial gasses including hydrogen and helium with a view to re-entering these holes to undertake further testing using modern, more accurate, equipment. Re-entering historical drill holes offers a considerable cost savings in comparison to new drilling, and virtually eliminates the programs environmental impact. These findings will be compared with historical and newly acquired seismic data to identify areas with the highest potential.