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Beowulf wraps up drilling at Finnish asset
Mineral exploration and development company Beowulf Mining has completed ten holes and 1,577.6 metres of diamond drilling at its Aitolampi graphite project in Finland, with a maiden resource estimate set to follow after the receipt of the drilling programme's assay results.
At 235.3 metres, the longest hole drilled by Beowulf, AITDD18014 which tested all three conductive zones including the north-western strike extension of the higher-grade parallel graphite zones, intercepted a total length of graphite mineralisation of 127.4 metres, including a single intercept of 44.9 metres.
The longest single intercept of graphite mineralisation, found in hole AITDD18015, was 99.4 metres.
Beowulf's drilling showed that mineralisation had a strike length of at least 350 metres along the main conductive zone, and that the two parallel higher-grade zones previously identified in its 2017 drilling campaign, contained mineralisation at a strike length of at least 150 metres.
The group's geologists had already completed core logging for all holes, with samples having been sent to the laboratory at ALS Minerals in Finland for assay. All samples will be assayed for graphitic carbon, total carbon and total sulphur.
Kurt Budge, Beowulf's chief executive, said "Now, we wait for assays, but once we have those, and with the information obtained from our 2017 drilling, we hope to produce a maiden resource estimate for Aitolampi (JORC Code 2012 edition) in Q2 2018."
"Thereafter, we will look to start a Scoping Study and baseline environmental studies, and more closely assess how we can expedite an application for a mining permit and leverage the growing enthusiasm for battery minerals in the Nordic region," he added.
As of 1200 GMT, shares had skiddded 5.98% to 6.68p.