Business
Finland Strategy & Operational Update
Finland Strategy & Operational Update.
About this update from 80 Mile Plc
[{"type":"text","content":"\n\n \n \n \n \n24 July 2023\n \nOperational and Strategic Update on\nBluejay's Finland Projects &\nPositive Visual Indications from Drilling at\nthe Hammaslahti Cu-Zn-Au-Ag Project\n \nBluejay Mining plc (AIM: JAY) ('Bluejay', the 'Group' or the 'Company'), the AIM, FSE-listed and OTCQB traded exploration and development company with projects in Greenland and Finland, is pleased to provide an operational and strategic update on the Company's portfolio of exploration projects in eastern Finland, namely the Hammaslahti copper-zinc-gold-silver ('Cu-Zn-Au-Ag') Project, the Enonkoski nickel-copper-cobalt ('Ni-Cu-Co') Project, the Outokumpu copper-zinc-nickel-cobalt-silver-gold ('Cu-Zn-Ni-Co-Ag-Au') Project and the Paltamo and Rautavaara nickel-zinc-copper-cobalt ('Ni-Zn-Cu-Co') projects.\nAll projects are held by Bluejay's 100% owned subsidiaries, FinnAust Mining Finland Oy, and FinnAust Mining Northern Oy (hereafter collectively 'FinnAust').\nHighlights\n· Geochemical assay results from Phase 1 of recent diamond drilling programme at Hammaslahti Cu-Zn-Au-Ag Project are expected shortly. A short programme of follow up drilling is due to commence August 2023 with a view to develop a maiden Mineral Resource Estimate ('MRE') for the East-lode ('E-lode') as well as the down plunge extensions to previously mined ore lodes.\no All seven Phase 1 drill holes intersected broad zones of disseminated to semi-massive sulphide mineralisation corresponding to the E-lode orebody, some of which exceeded 10 metres ('m') in width.\n· Bluejay and Rio Tinto have concluded their Joint Venture Agreement and Earn-in Agreement ('JV') on the Enonkoski Ni-Cu-Co Project. Bluejay retains its 100% ownership of the Project with Rio Tinto having invested a total of US$4.65 million. The Company's focus will now be to assess numerous as-yet-untested targets that have been identified along the Enonkoski Belt.\no Drilling of up to 1,500m planned in late 2023 to test the Makkola, Hälvalä and K...