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Kallak Update - Estimated 600
Kallak Update - Estimated 600.
About this update from Beowulf Mining Plc
[{"type":"text","content":"\n RNS Number : 4817Y Beowulf Mining PLC 23 December 2010 \n\n23 December 2010\nBeowulf Mining Plc\n(\"Beowulf\" or the \"Company\")\n Update re Kallak Iron Ore Project\nInitial drilling results for the Kallak South deposit confirm presence of \nan estimated 400 million tonnes of iron ore\nPreliminary results for the ongoing independent assessment of a JORC compliant resource estimate for the Kallak North deposit indicate presence of \n approximately 175 million tonnes of iron ore \nHighlights:\n· The first ten drillholes of the Company's diamond drilling programme at its Kallak South iron ore \ndeposit have been completed and initial results confirm the presence of high grade iron ore of a similar type and quality to that encountered on the Kallak North deposit.\n \n· The completed drillholes have only tested approximately 600 metres of the extension of the \nmost northerly part of the Kallak South deposit, which from detailed ground magnetic data is indicated to extend well over 2,400 metres in length with a maximum width of 400 metres in its central zone. \n \n· Based on the initial drilling results and the measured size of the magnetic anomaly the Kallak \nSouth deposit is estimated to contain more than 400 million tonnes of iron ore.\n \n· An international consultancy group has started work to complete an independent JORC \ncompliant resource estimate for the Kallak North deposit based on the Company's 2010 drilling results and historic data. Their report is scheduled to be completed in late Q1 2011. Preliminary results indicate the presence of more than 175m tonnes of iron ore.\n \n· Significant additional tonnages of iron ore at Kallak North are anticipated from planned future \ndrilling on this deposit as its total extension is not currently defined.\n \n· Together the two deposits at Kallak are estimated to contain more than 600 million tonnes of \nhigh quality quartz banded magnetite iron ore. Since both deposits are of similar type and located close together on a direct extension within the same geological structures, they may be connected at greater depths to form one deposit with a total extens...