Business
Studies commence Lulepotten c
Studies commence Lulepotten c.
About this update from Beowulf Mining Plc
[{"type":"text","content":"\n RNS Number : 0539W Beowulf Mining PLC 22 July 2009 \n \nBeowulf Mining Plc\n('Beowulf' or the 'Company')\n\nMetallurgical studies commence at the Lulepotten copper-gold deposit\n \n \n\n Highlights:\n\n\n\nLulepotten has an estimated JORC-compliant inferred resource of 5.4m tonnes at 0.8% Cu and 0.3g/t Au.\n\n\n\n\n\nA number of potential customers have expressed an interest in Beowulf's projects including the Lulepotten project.\n\n\n\n\n\nResultant products from the studies will be made available to potential buyers for quality testing.\n\n\n\nBeowulf (AIM: BEM; Aktietorget: BEO), the AIM and Aktietorget traded mineral exploration company which owns several exploration projects in Northern Sweden, is pleased to announce that it has commissioned its initial metallurgical tests on ore grade material from its 100%-owned JORC-compliant Lulepotten copper-gold deposit in the Arjeplog County region of Northern Sweden, from MINPRO AB's research laboratory at Stråssa, Central Sweden. The resultant products will be made available to potential buyers for quality testing.\n\nLulepotten currently forms the largest copper deposit within the Company's Ballek project area covering close to 11,000 hectares. As announced on 16 September 2008, the deposit has an estimated JORC-compliant inferred mineral resource of 5.4 million tonnes grading 0.8% Cu and 0.3g/t Au, representing a total of 43,000 tonnes of contained copper metal and 52,000 ounces of contained gold using a cut-off value of 0.3% for copper. Further drilling is expected to significantly increase the resource.\n\nDiamond drilling by the Swedish Geological Survey (SGU) in the 1960's and 1970's identified fracture-hosted copper-gold sulphide mineralisation at the Lulepotten deposit. Re-evaluation of the drilling data in 2008 by Beowulf's PLUS-quoted joint venture partner Agricola Resources plc (PLUS: AGRI) ('Agricola') suggested that the drilling had intersected locally significant thicknesses and grades of copper-gold mineralisation that may have sufficient continuity to be amenable to economic extraction through a bulk mining method. Initial diamond drilling complete...