Business
Aitolampi Drilling Now Underway
Aitolampi Drilling Now Underway.
About this update from Beowulf Mining Plc
[{"type":"text","content":"\n \nRNS Number : 0656F Beowulf Mining PLC 16 February 2018 \n\n \n \nThe information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (\"MAR\") (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.\nFor the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is being made on behalf of Kurt Budge, Chief Executive Officer.\n16 February 2018\nBeowulf Mining plc\n(\"Beowulf\" or the \"Company\")\nAitolampi Drilling Now Underway\nBeowulf (AIM: BEM; Aktietorget: BEO), the mineral exploration and development company, focused on the Kallak magnetite iron ore project and the Åtvidaberg polymetallic exploration licence in Sweden, and its graphite portfolio in Finland, is pleased to announce that drilling at its Aitolampi graphite project is now underway. Aitolampi is part of the Company's 100 per cent owned Exploration Permit Pitkäjärvi 1.\n \nThe Company has plans to drill approximately 2,000 metres, up to 15 drill holes, with the drilling programme split into two phases. The drilling contract has been awarded to a local Finnish contractor, Oy Northdrill. \n \nThe first phase will be drilled on snow covered ground and take three to four weeks to complete, with samples being sent for analysis and testwork concurrently with drilling. After the information collected from the first phase of drilling has been fully analysed, the second phase of drilling will commence, most likely in the summer of 2018. \n \nThe drilling programme for this year will support our objectives of defining a maiden resource of 4-5 million tonnes, following the guidelines of the JORC Code 2012 edition, and conducting a Scoping Study. \n \nKurt Budge, CEO, commented:\n \n\"It's great to be back drilling at Aitolampi, and working again with local Finnish contractor Northdrill, who did an excellent job for us in 2017.\n\"There's a growing buzz in Finland regarding battery minerals and metals, and we hope to take advantage of this.\n\"I look forward to making further updates on our progress\".\nCompetent Person Review\nThe information in this announcement has been reviewed by Mr. Rasmus Blomqvist, ...