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Bluejay Mining said it had identified seven new drill ready at its Disko project in West Greenland following completion of 2019 exploration programme
Seven new drill ready targets were identified, taking the total to 28, up from 21 in 2018.
The company indicated it would move towards drilling next year at its Disko project in West Greenland after it had completed the partner selection programme.
The update comes as the company confirmed that it was in negotiations with two drilling contractors regarding the most cost effective and efficient methods of drilling targets and in talks with three significant parties about accelerating the development Disko.
Three new outcropping sulphide occurrences were discovered in the North-Eastern part of Disko island in the exploration programme, while field work continued to demonstrate strong analogies with the world's largest nickel district, Noril'sk-Talnakh in Siberia, the company said.
The company also said geological logs pointed to evidence of previous drilling at Disko encountering thick intersections of nickeliferous sulphides.
At 8:00am: (LON:JAY) Bluejay Mining Plc share price was -0.1p at 8.78p