Business
New Exploration Permit
New Exploration Permit.
About this update from Beowulf Mining Plc
[{"type":"text","content":"\n Beowulf Mining PLC\n26 January 2006\n\n\n BEOWULF MINING PLC\n\n Beowulf expands present holdings in Northern Sweden.\n Registers new mineral claim hosting large titanium deposit.\n\nLondon 26 January 2006 : Beowulf Mining PLC (AIM:BEM), the AIM listed mineral\nexploration company, with projects in Sweden, announces that the Swedish state\nmining authority, Bergsstaten, has registered an exploration permit for Beowulf\nfor a new area called Ruoutevare, covering a large ore deposit of titanium. The\nclaim has a total area of 850 hectares and is located in the Caledonides\nmountain region, within the Jokkmokk County, approximately 50 km west of\nBeowulf's Majves' claims in northern Sweden. (See www.beowulfmining.com).\n\nThe permit covers the Ruoutevare titaniferous iron deposit, which has been known\nof since the 18th century and investigated several times during the last\ncentury. As yet no production has occurred. The investigated part of the deposit\nis relatively flat lying, and covers an area of 387,000 m2.\n\nThe reserves at the latest study in 1975 by the Geological Survey of Sweden\n(SGU) are estimated at 116 million tonnes with an average 38.2% Fe (iron), 5.6%\nTi (titanium) and 0.17% V (vanadium). A richer section of 20 million tonnes is\nregistered with a grade of 47% Fe, 11% TiO2 and 0.15% V2O5. These figures are\nbased on 32 drill holes and do not follow present JORC or 43-101 standards.\nThe mineralization consists of magnetite, ilmenite, spinel and smaller amounts\nof pyrrhotite, chalcopyrite and pentlandite. The dominant silicates in the\nmineralizations are plagioclase, olivine, pyroxene and garnet. The host rock is\na large, mafic intrusion defined as anorthosite, which locally grades into\ngabbro.\n\nCommenting on the news, Dr. Robert Young, Beowulf's Chairman said, 'In the light\nof the present demand by various industrial sectors for titanium Beowulf intends\nto re-evaluate available data, and will perform additional local studies and\ndrilling, and hopes to turn the Ruoutevare deposit into a commercial titanium\nmine.'\n\n\nFor further information contact :\n\nDr Robert Young, Beowulf Mining plc Tel. +44 (0) 1353 649 701\n\nMr Gavin Burnell, Ruegg & Co. Ltd Tel. +44 (0) 207 584 3663\n\nMr Gary Middleton, St. Swithins PR Tel. +44 (0) 207 929 4391\n\nMr. Nick Bealer, King & Shaxson Tel. +44 (0) 207 ...