27th Jan 2014 11:54
LONDON (Alliance News) - Beowulf Mining PLC said Monday the drilling programme at its Ballek project in Norrbotten County, Sweden, was progressing as planned despite extreme weather conditions. It also said it has registered an application with the Swedish Mining Inspectorate for a new exploration permit.
The company said it has completed 300 meters of drilling on the first drill hole at Ballek as part of its drill programme, seeking to test previously indicated copper targets at increased depths. The company will continue drilling on the first hole to around GBP350 meters and has begun preparatory work on a second hole to commence drilling.
The company also has applied for a new exploration permit covering an area of 6,836 hectares adjacent to its existing Kallak project in Northern Sweden.
"I am delighted that our new drill programme on Ballek is progressing as planned despite the fieldstaff experiencing extreme weather conditions necessitating work on the pumps to ensure that water can flow correctly without freezing," said Executive Chairman Clive Sinclair-Poulton in a statement.
Shares in Beowulf were trading down 8.2% at 5.28 pence Monday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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