22nd Jan 2014 10:55
LONDON (Alliance News) - Beowulf Mining PLC Wednesday said it has received encouraging assay results from 14 drillholes at the group's Kallak iron ore project in Sweden.
The mineral exploration company said it has received positive assay results from the latest 10 holes at its Kallak South region, including an intercept of 17.4 metres at 31.35% iron content.
The company said the new work plan for the Kallak South site, for up to a total of 18,000 metres of drilling through to December 31 2015 is now valid and the company will begin drilling once it receives an upcoming work permit.
Beowulf Mining said it also received positive assay results from its first holes from the 1,546 metre phase of drilling on Kallak North including a long intercept of 90.2 metres at 41.37% iron.
In November, the drilling progress at both sites was slowed after rigs on site and associated equipment have had to be removed for repairs after protesters damaged the equipment.
The company also noted that metallurgical studies for pilot scale test work at the Kallak North site is progressing as planned.
Beowulf Mining shares were up 4.4% to 5.74 pence Wednesday.
By Tom McIvor; [email protected]; @TomMcIvor1
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