Business
Technical Review completed
Technical Review completed.
About this update from Beowulf Mining Plc
[{"type":"text","content":"\n Beowulf Mining PLC\n11 July 2006\n\n\n BEOWULF MINING PLC\n\n Technical Review of Ruoutevare Titanium Iron Deposit, Northern Sweden, by\n Snowden Mining Industry Consultants Ltd.\n\n Drilling in September 2006 to Re-sample the Deposit to support JORC- Compliant\n Resource Report\n\n11 July 2006. In March 2006, Beowulf Mining PLC (AIM- BEM) the AIM-quoted\nmineral exploration company was granted an exploration permit by the Swedish\nstate mining authority (Bergsstaten) for the Ruoutevare area in the Jokkmokk\nCounty of northern Sweden. A previous resource estimate carried out by the\nGeological Survey of Sweden (Sveriges Geologiska Undersoknning -'SGU') in 1975\nreported a resource of 116 Mt of material averaging 38% iron, 5.6% titanium and\n0.17% vanadium based on 32 drill holes. A richer section of 20 Mt is registered\nwith a grade of 47% iron, 10% titanium and 0.14% vanadium.\n\nSnowden Mining Industry Consultants Limited ('Snowden') has completed a\ntechnical review of the previous work and has also undertaken a preliminary\ngeostatistical analysis of the drill holes to support the preparation of a\nJORC-compliant resource report.\n\nSnowden concluded that the volumes, tonnages and average grades of the 116 Mt\nresource are of the order of magnitude reported by the SGU in 1975. However they\ncannot be regarded as being equivalent to a JORC-compatible Inferred Resource.\n\nSnowden has therefore suggested additional work, which includes re-drilling of\nholes as well as the drilling of additional, closer spaced, drill holes to\nassess the deposit. Ten to twelve drill holes are suggested and these are\nplanned for September 2006. If this work confirms the previous estimates and\nproduces a JORC compliant resource report, Snowden recommends the preparation of\na detailed scoping / pre-feasibility report for the project. If the latter is\nsuccessful they recommend the completion of a full feasibility study for the\nproject.\n\nCommenting on the report, Dr. Robert Young, Chairman of Beowulf, states 'the\ndirectors are very encouraged and are looking forward to a successful drilling\ncampaign leading to a scoping / pre- feasibility study on the Ruoutevare deposit\n(Ruoutevare when translated into English means 'iron mountain'). The Company has\nsufficient existing resources for the drilling campaign'.\n\n\nFor further information ...