Business
Drilling Report
Drilling Report.
About this update from Beowulf Mining Plc
[{"type":"text","content":"\n RNS Number : 5924A Beowulf Mining PLC 03 February 2011 \n \n\n3 February 2011\n \nBeowulf Mining Plc\n(\"Beowulf\" or the \"Company\")\n \nCorporate and Operational Update\n \nHighlights:\n \n· Drilling continues to progress at the Kallak South iron ore project despite Sweden's coldest December for more than 100 years\n \n· Beowulf has assumed operatorship of its Ballek copper-gold JV project\n \n· Swedish incorporated subsidiary to be created to facilitate the potential future application for a mining licence(s)\n \n· Appointment of Fred Boman as a Production Consultant\n \nBeowulf (AIM: BEM; Aktietorget: BEO), the AIM and Aktietorget traded mineral exploration company which owns several exploration projects in Sweden, announces that its drilling programme on its wholly owned Kallak South iron ore deposit is making progress despite experiencing harsh winter weather conditions. However, drilling operations have been further interrupted with temperatures plummeting to -35 degrees celsius over extended periods. Dagens Nyheter, Sweden's largest newspaper, reported \"The winter weather hits new records in December. The month was the coldest for more than 100 years\". Conditions have now improved enabling drilling activity to return to more normal levels. \n \nAssay results for the initial 10 (out of the planned 32) drillholes, totalling 951 metres, are now expected to be received by the end of February 2011 and, despite the severe winter weather conditions, drilling of the remainder of the total 3,500 metre programme and final assay results for all of the selected drill cores are still anticipated to be received during Q2 2011. \n \nBeowulf also announces that it has assumed the role of operator at its Ballek, copper-gold joint venture project from Energy Ventures Limited (\"EVE\"), its joint venture partner. In April 2010, EVE earned a 50 per cent. interest in the project's holding company, Wayland Copper Limited (\"Wayland\"), following completion of a 1,601 metre drilling commitment which confirmed widespread anomalous copper-gold mineralisation in the Ballek area. EVE has recently increased its focus on a series of uranium projects in America, but will retain its interest in W...