The share price of Bluejay Mining fell by 14% on Wednesday, as the exploration and development company announced an equity raise of £600 000 through the private placement of 60-million shares at 1p each. The funds raised will be focussed on the company's 100% owned Hammaslahti copper/zinc/silver/gold project in eastern Finland, where it is developing a Joint Ore Reserve Committee-compliant mineral resource estimate, has completed two phases of diamond drilling over the summer, and awaiting final assay results on the second phase holes.
The share price of Bluejay Mining fell by 14% on Wednesday, as the exploration and development company announced an equity raise of £600 000 through the private placement of 60-million shares at 1p each.
Results from an ongoing lithogeochemical and petrographic study as well as some further regional geochemical analysis are also expected. “We have attempted to highlight the hidden value within our portfolio of energy transition focussed base metals assets. First of all, we are awaiting the final assay results from our recent drilling campaign at Hammaslahti. Thereafter, we are aiming to develop a maiden mineral resource estimate for H2 2023 which encompasses recent drilling as well as some historical holes, notably the E-lode discovery hole which returned 8.65 metres grading 2.2% copper, 2.0% zinc, 0.5 % lead, 47.
Beyond Hammaslahti, Bluejay is keen to undertake further geophysics on the Outokumpu project as well as potentially undertake a 1 000 m to 1 500 m drill campaign on defined, untested targets, notably Makkola, Hälvalä and Kiislampi within the Enonkoski project not drilled by Bluejay in conjunction with its former joint venture partner, Rio Tinto.
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