12th Sep 2018 14:28
LONDON (Alliance News) - Bluejay Mining PLC said Wednesday that it is preparing for the commencement of drilling at its Dundas Ilmenite Project in Greenland.
The company said it completed a 10,000 tonne bulk sampling at the project, which have been dispatched to "key groups" to be tested and in support of discussions regarding offtakes for the entire 450,000 tonnes of annual ilmenite production planned.
In total, the company drilled 68 holes with "ilmenite-rich sediments encountered in all new holes", it said. It expects to receive drilling results in the late fourth quarter of 2018.
Chief Executive Officer Roderick McIllree said: "I am delighted to report that we continue to make excellent progress at Dundas, both at an operational and wider commercialisation level.
"We continue to advance with several major players in the space with the objective of locking down agreements for up to the entire 450,000t of planned annual ilmenite production."
Bluejay shares were trading up 1.4% at 15.92 pence each.
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