Business
Ballek JV Partner earns 50% o
Ballek JV Partner earns 50% o.
About this update from Beowulf Mining Plc
[{"type":"text","content":"\n RNS Number : 0881K Beowulf Mining PLC 13 April 2010 \n \n\n \n13 April 2010\n \nBeowulf Mining Plc\n(\"Beowulf\" or the \"Company\")\n \nJV Partner earns 50% interest in the Company's Ballek Project\n \nHighlights:\n \n· 1,601 metre diamond drilling programme completed at the Ballek copper-gold-uranium JV project.\n· Energy Ventures Limited has now earned a 50% interest in the project.\n \n· Drilling results expected in May 2010.\n \n· New company set up to develop the project.\n \nClive Sinclair-Poulton, Executive Chairman of Beowulf commented:\n \n\"We are delighted that even during one of Sweden's coldest winters our JV Partner has completed the required drilling programme on schedule and we look forward to receiving the assay results next month.\"\n \nOverview\n \nBeowulf (AIM:BEM; Aktietorget: BEO), the AIM and Aktietorget traded mineral exploration company which owns several exploration projects in Sweden, is pleased to advise that its JV Partner, Energy Ventures Limited (\"EVE\") (ASX:EVE), has recently completed a diamond drilling programme comprising a total of 1,601 metres at the Ballek copper-gold-uranium project in Northern Sweden. The completion of this drilling programme has satisfied the requirements for EVE to earn a 50% interest in the Company's Ballek project.\n \nBallek Project Drilling Programme\n \nA programme of diamond drilling at the Ballek copper-gold-uranium project has been undertaken by EVE to test for the continuation, or repetitions of, the known mineralisation at the Lulepotten copper-gold deposit. A total of 8 holes for 1,601 metres drilling was completed testing a series of geophysical targets to the north and south of Lulepotten (see Table 1).\n \nTable 1: Drilling Programme Summary\n \n\n\n\n\nHole ID\n\n\nHole Collar Coordinates*\n\n\nDip (o)\n\n\nAzimuth (o)\n\n\nDepth (m)\n\n\nComment\n\n\n\n\nEasting\n\n\nNorthing\n\n\n\n\nBAL005\nBAL006\nBAL007\n \nBAL008\nBAL009\nBAL010\nBAL011\nBAL012\n\n\n1607539\n1607378\n1609349\n \n1609453\n1609154\n1610375\n1609386\n1609760\n\n\n7328755\n7328511\n7331740\n \n7331709\n7331769\n7335558\n7331895\n7334177\n\n\n-45\n-45\n-50\n&...