19th Mar 2014 11:26
LONDON (Alliance News) - Beowulf Mining PLC Wednesday said encouraging results have been received, ahead of schedule, from the Geological Survey of Finland, in relation to sampling at its Kallak North site.
The company, which is trying to develop Iron Ore assets in northern Sweden and has a copper-gold project joint venture in the same country, said the grade and recovery levels from the magnetite beneficiation circuit tested at Kallak were excellent and further test work by the Geological Survey is currently scheduled for May or June 2014.
Beowulf said it has now restarted its drilling campaigns at both Kallak and Kallak South, while the recently granted Agasjiegge nr2 exploration permit has further extended the company's licenced area in Kallak.
The company added that ongoing Ballek drilling continues to make good progress with operations currently underway on the sixth hole of a planned eight hole programme on site, with initial results from core samples currently expected to be received in the second quarter.
Beowulf Mining shares were down 2.7% to 4.26 pence Wednesday.
By Tom McIvor; [email protected]; @TomMcIvor1
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