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".
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
-
Would you delay retirement to help your children through university?Parents are missing out on as much as £45,000 that could have gone into their pensions because they are using that money to pay their children’s way through university, according to new research
-
Family face £100k stamp duty bill after avoidance scheme crashes in court – the mistakes to avoidA couple faces a substantial stamp duty bill after trying to reduce the amount they owed
