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LONDON - Ajax Resources Plc (AQSE:AJAX) announced Friday it has submitted an Environmental Impact Study (EIS) for its wholly-owned Eureka copper and gold project in Argentina’s Jujuy Province, marking a key step in advancing the exploration project.
The EIS, prepared by WICZ Mining Consulting, covers ten of the twelve mining licenses held by Ajax’s Argentine subsidiary Puna Metals S.A. Upon approval, the company plans to begin an exploration program including mapping, trenching, drilling and underground sampling of a dewatered adit.
Ajax aims to publish a maiden JORC-compliant Mineral Resource Estimate for Eureka during the first half of 2026. The company has allocated an exploration budget of approximately £1.4 million for Eureka through June 2026, which represents the initial phase of a five-year plan to potentially advance the project toward commercial production.
The Eureka project comprises nine mining licenses, including a historic gold and copper mine, and three additional mining license applications, covering approximately 7,200 hectares in northern Argentina.
In addition to the EIS submission, Ajax announced plans for a second closing of its previously announced subscription, expected around July 25, to raise an additional £0.5 million at 5 pence per ordinary share. This follows a first closing that raised £1 million in gross proceeds last month.
The company also revealed its intention to list on the Euronext (EPA:ENX) Growth Market of the Oslo Stock Exchange, having engaged Schjødt AS as legal advisers and Cleaves Securities AS as Euronext Growth Advisor. Subject to regulatory approvals, Ajax expects to complete the listing during the current financial year.
According to the press release statement, Ajax has recently expanded the Eureka project by exercising a binding agreement to acquire Minas La Escondida, comprising two licenses contiguous to the historic Eureka mine, and signing a conditional option to acquire the neighboring La Norteña property.
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