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Bluejay Mining ( (GB:80M) ) has issued an announcement.
80 Mile Plc, in collaboration with its US joint venture partner March GL and Pelican, has announced a significant independent assessment by Sproule ERCE, identifying 13.03 billion barrels of gross un-risked recoverable prospective oil resources in the Jameson Land Basin, Greenland. This positions Jameson as one of the most promising undrilled basins globally, with 80 Mile’s share equating to approximately 3.9 billion barrels. The company plans to commence drilling operations in the second half of 2026, fully funded by March GL, which will earn up to a 70% interest. This development marks a major milestone for 80 Mile, enhancing its presence in the energy sector and potentially transforming Greenland into a significant oil resource hub.
More about Bluejay Mining
80 Mile Plc is an exploration and development company listed on the London AIM market, Frankfurt Stock Exchange, and the U.S. OTC Market. The company focuses on high-grade critical metals in Tier 1 jurisdictions, with projects in Greenland, Finland, and Italy. It is involved in the exploration of base metals, precious metals, and industrial gas, while also expanding into sustainable fuels and clean energy solutions. The company has a significant interest in the Jameson Land Basin in Greenland, known for its untapped hydrocarbon potential, and operates the Disko-Nuussuaq nickel-copper-cobalt-PGE project and the Dundas Ilmenite Project in Greenland.
Average Trading Volume: 60,019,522
Technical Sentiment Signal: Hold
Current Market Cap: £29.49M
See more insights into 80M stock on TipRanks’ Stock Analysis page.