Business
Progress Report
Progress Report.
About this update from Beowulf Mining Plc
[{"type":"text","content":"\n Beowulf Mining PLC\n04 May 2006\n\n\n\n BEOWULF MINING PLC\n\n Progess Report on Projects\n\n4 May 2006. Beowulf Mining PLC (AIM:BEM), the AIM listed mineral exploration\ncompany is pleased to give a progress report on several of its projects.\n\n\nRuoutevare Iron Titanium Project.\n\n\nBeowulf has engaged Snowden Mining Industry Consultants Ltd. (Snowden) to review\nthe ore reserves at Ruoutevare and to give advice on how the reserves calculated\nin the 1970's by the Swedish Geological Survey (SGU) can be converted to\nJORC-compliant resource estimates.\n\n\nThe reserves from the 1970's SGU study estimate 116 million tonnes, with an\naverage of 38.2% iron and 5.6% titanium. A richer section of 20 million tonnes\nis registered with a grade of 47% iron and 11% titanium oxide.\n\n\nBeowulf has converted all the drilling results into a digital format. These\nresults will be used by Snowden to perform their study. Beowulf will conduct\nother studies and prepare a pre-feasibility study on the deposit. This is to see\nif the deposit can be brought into production.\n\n\nGrundtrask Gold Project.\n\n\nA drilling contract has been awarded to Ludvika Borrteknik AB using a 56mm core.\nDrilling is to start in the second week of May 2006. To date, Beowulf has\ncompleted nine diamond drill holes on the Grundtrask permits. In 2005 gold\nanalysis from hole 5004 yielded a 30.23 metre section (16.2 to 46.4 meters) with\nan average grade of 1.14 grams per tonne and included a section of 6 metres of\n2.16 grams per tonne. The hole was in the 'Central Zone Mineralisation' at\nGrundtrask, which is now proven to extend for 675 metres. The Directors believe\nthat geophysical data indicated that the Central Zone Mineralisation extends for\na further kilometre at both ends.\n\n\nThe planned drilling will use a larger drill core.\n\n\nKallak Iron Ore Claim\n\n\nThe company has registered an exploration claim of 500 hectares covering the\nKallak iron deposit located about 5 kilometres to the northwest of of the Majves\nclaims and about 50 kms east of the Ruoutevare titanium -iron deposit in the\nJokkmokk area, Norrbotten county of Northern Sweden. The deposit which is up to\n100 m wide, consists of magnetite and some hematite extending in north-south\ndirection for about 1000 m. The Kallak Iron deposit was discovered by the\nGeological Survey of Sweden i...