Business
Upgraded JORC resource and operational update
Upgraded JORC resource and operational update.
About this update from Beowulf Mining Plc
[{"type":"text","content":"\n \nRNS Number : 4070B Beowulf Mining PLC 03 April 2013 \n \n\n3 April 2013\nBeowulf Mining Plc\n(\"Beowulf\" or the \"Company\")\nUpgraded JORC Compliant Resource Estimate for the \nKallak North deposit and Operational update \nBeowulf (AIM: BEM; Aktietorget: BEO), the AIM and Aktietorget traded mineral exploration company focussed on developing its Kallak North and Kallak South iron ore deposits in northern Sweden, today announces the completion of an upgraded independent JORC Code compliant resource estimate for the Kallak North deposit, together with an operational update for the Company's wholly owned Kallak iron ore project. \n \nHighlights:\n· An updated independent JORC Code compliant resource estimate has been completed by GeoVista AB for the Kallak North deposit comprising 88.8Mt of Indicated Resources grading at 27.7% iron (Fe) and 55.3Mt of Inferred Resources grading at 28.2% Fe.\n \n· The resource was geologically interpreted and modelled with the assistance of consultants from MICON International Co. Limited and AB Scandinavian GeoPool Limited, and reported by GeoVista AB at a 20% Fe cut-off down to a vertical depth of 200m to 350m. The estimate is principally based on a database of the results for 51 diamond drillholes, comprising 10,800m of drilling on the Kallak North deposit.\n \n· The mineralised area for the deposit is estimated to be approximately 1,100m long from south to north and, at its widest point in the central part, approximately 350m wide. The mineralisation is outcropping and occurs as banded iron formations in parallel sub-vertical veins and remains open in depth. \n \n· The Kallak South drill programme continues to make good progress with approximately 1,729m drilled to date, using two rigs, on the first nine holes.\n \n· Detailed work plans filed and notified in respect of:\n \n- the test mining sampling programme which is currently expected to commence on a defined area of the Kallak North deposit in summer 2013; and\n- a planned additional, up to 11,000m, 40 hole drilling campaign on Kallak North to commence later this year.\n \n· An application will shortly be submi...