JAY.L Share News (JAY)

(Coorrecting the name of Bluejay's Finland project to "Hammaslahti")

(Alliance News) - Bluejay Mining PLC on Tuesday said it has commenced a drilling programme at its Hammaslahti project in Finland.

The London-based mineral exploration and development company focused on Greenland and Finland said the programme's first phase will see between 1,500 and 2,000 metres of drilling focused on a high-grade copper-zinc-lead-gold-silver ore lode discovered in 2014.

The 2014 drillhole indicated 2.2% copper, 2.0% zinc and 0.5% lead , alongside 47.5 and 0.5 grammes per tonne of silver and gold respectively.

The firm said planned drill fences will test the lode's up-plunge and up/down dip-extensions, as well as carrying out infill drilling to delineate a maiden resource estimate for the new target.

Regarding the drilling programme, Chief Executive Bo Moller Stensgaard said: "It marks an important step towards a more balanced focus between our Finnish and Greenlandic assets and our intention to drive value creation across the entire Bluejay project portfolio.

"At modest expenditure we expect to be able to fast-track the near-mine exploration at Hammaslahti into a mineral resource estimate for this brownfields site. The project benefits from excellent modern infrastructure, including high voltage power, heavy rail, and a double-lane paved highway adjacent to the former mine."

Bluejay shares fell 3.0% to 2.46 pence each in London on Tuesday morning.

By Harvey Dorset, Alliance News reporter

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