Bluejay Mining provided an update on Tuesday of works at its flagship exploration and development site in Greenland, Pituffik Titanium project.
The group said that auger drilling was underway at Itelak, the largest target on the licence area with all sonic drill holes completed outside of the area and a further 50 planned for within the area.
Super high-grade deposits of up to 80% ilmenite in-situ was discovered in large qualities to the east of the target.
New resource calculations were expected to potentially increase the current resource of 23.6Mt as much as 8.8% ilmenite.
Roderick McIllree, chief executive of Bluejay said, ” “The current work programme has exceeded our expectations on all levels, both in terms of timing and results, so we are now undertaking additional work programmes to further advance our assets towards production. We will also shortly advise on development plans for Disko Exploration, which whilst not our priority focus, offers significant upside value as the asset has shown potential to host mineralisation similar to the world’s largest nickel/copper sulphide mine – Norilsk-Talnakh. With multiple work programmes currently underway I look forward to updating shareholders accordingly.”
As of 1130 BST, shares had fallen off 1.64% to 19.18p.
Source:Â digitallook