Sirius Minerals, the firm looking to develop a potash mine near York, has described new assay (test) results at the site as 'strong'.
One of the holes being drilled showed "a consistent overall seam thickness compared to the "mother" hole with approximately 50m total polyhalite mineralisation."
Other drilling is described as "progressing well".
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Chris Fraser, Managing Director and Chief Executive Officer of Sirius said: "These assay results of the third new hole of the York Potash drilling program have delivered yet another thick intersection of high-grade polyhalite in the Shelf Seam."
He added: "These assays continue the strong results obtained from the drilling program, and combined with the results of the Detailed Scoping Study confirm the world-class nature of the York Potash Project."
The market wasn't impressed however, Sirius's stock had dropped 2.3% by 12:00.
BS
-
Bitcoin price one of the most-asked questions on Alexa - here's how to buy the cryptocurrencyAccording to figures from Amazon, which cover September 2023 to November 2024, pop star Taylor Swift and Bitcoin were named among the most popular Alexa queries of 2024
-
Investing for children this Christmas – five ideasIt might not come with a shiny ribbon, but an investment fund could be the gift that keeps on giving. We share five ideas if you are investing for children this Christmas.
