Business
Acquisition of Finnish Graphite Company
Acquisition of Finnish Graphite Company.
About this update from Beowulf Mining Plc
[{"type":"text","content":"\n \nRNS Number : 3706L Beowulf Mining PLC 11 January 2016 \n\n \n \n11 January 2016\n \nBeowulf Mining plc\n(\"Beowulf\" or the \"Company\")\nAcquisition of Finnish Graphite Company\n \nBeowulf (AIM: BEM; Aktietorget: BEO), the mineral exploration and development company focused on the Kallak iron ore project in northern Sweden, is pleased to announce the acquisition of Oy Fennoscandian Resources AB (\"Fennoscandian\"), a privately owned graphite exploration company with projects in Finland.\nHighlights:\n· Through this acquisition Beowulf has acquired a portfolio of four early-stage graphite exploration projects located in Finland, with all projects being held by Fennoscandian under 100 per cent owned Claim Reservations:\no Viistola - A potentially high grade deposit, anticipated to contain graphitic carbon (\"Cg\") grading 20-35 per cent Cg. \no Haapamäki - A high grade Cg project with attractive flake sizes. Historic studies have reported visually estimated flake sizes ranging 0.1-2.0 millimetres in length. \no Piipumäki - This project has shown evidence of high quality graphite flakes with visible hexagonal growth, and physical characteristics reportedly comparable with synthetic graphite.\no Kolari - A single diamond drillhole R1 intersected 170 metres of mineralisation starting from surface, with an average grade of 8.9 per cent Cg. The graphite at the project has been described as very fine to fine microcrystalline. \n· Finland is believed to be highly prospective for graphite exploration. Studies have combined maps of 'black schist' trends with metamorphic grade, which have resulted in the identification of potential areas for high quality flake graphite.\n· Each of the projects has been explored historically, with exploration data readily available especially for the Viistola project. More recently the FennoFlake project, a collaborative group with partners representing the entire graphite value chain, from identification to exploration and mining, processing to end products and market applications, has carried out additional exploration.\n· Fennoscandian is a key partner in FennoFlake. Beowulf's role in FennoFlake will provide the Company with access to mark...