Business
Target at Mitrovica & Investment in Vardar
Target at Mitrovica & Investment in Vardar.
About this update from Beowulf Mining Plc
[{"type":"text","content":"\n \nRNS Number : 1368D Beowulf Mining PLC 17 February 2020 \n\n \n \nThe information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (\"MAR\") (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.\n17 February 2020\nBeowulf Mining plc\n(\"Beowulf\" or the \"Company\")\n Additional Copper-Zinc Target at Mitrovica and £50,000 Investment in Vardar\nBeowulf (AIM: BEM; Spotlight: BEO), the mineral exploration and development company, is pleased to announce that Vardar Minerals (\"Vardar\") has identified an additional copper-zinc exploration target at its Mitrovica licence in Northern Kosovo and that Beowulf has invested a further £50,000 in Vardar. \nHighlights:\n· Mineralised gossans, which appear to be the surface expression of hydrothermal breccias and stockworks, identified through field mapping and sampling to the north and east of drill tested mineralisation at Vardar's Wolf Mountain prospect, part of the Mitrovica licence.\n· Significant anomalies returned from rock grab sampling and soil sampling grids over the area.\n· Several rock samples with > 1% copper and up to 3% lead.\n· Soil samples routinely over 500ppm copper and up to 1% lead and zinc. \n· The area is considered a priority for follow-up geophysical work which will be designed to identify targets for drill testing.\n· Beowulf has invested a further £50,000 in Vardar, which increases the Company's ownership of Vardar from 41.5% to 42.2%.\nFunds will be used for testing of an automated terrain-following drone which will be used to collect magnetic and magnetic IP (\"MIP\") and magnetometric resistivity (\"MMR\") data over priority areas at Viti and Mitrovica. Results from the drone surveys will be combined with 3D Induced Polarisation surveys to generate drill targets.\nKurt Budge, Chief Executive Officer of Beowulf, commented:\n \n\"Vardar continues to deliver exciting exploration results with the addition of another exploration target at Mitrovica. Our understanding of the copper and gold porphyry potential at both Mitrovica an...