Beowulf says Kallak results indicate 'considerable potential'

23rd Dec 2010 07:56

Beowulf Mining has confirmed the presence of an estimated 400m tonnes of iron ore at its Kallak South deposit in Sweden of a similar type and quality to that at Kallak North.The company, which has ten exploration projects in Northern Sweden, says preliminary results for the ongoing independent assessment of a JORC compliant resource estimate for the Kallak North deposit indicate the presence of about 175m tonnes of iron ore.Only 600 metres of the extension of the most northerly part of the Kallak South deposit has been tested so far. Indications are it extends well over 2,400 metres in length and is up to 400 metres wide.An independent JORC compliant resource estimate for Kallak North deposit is expected to be completed at the end of the first quarter of 2011.Together the two deposits at Kallak are estimated to contain more than 600m tonnes of high quality quartz banded magnetite iron ore. Drilling, temporarily halted over Christma, will begin again in the first week of 2011, though winter temperatures of as low as -35 degrees could slow progress. "The latest drilling results again demonstrate Kallak's considerable potential. We continue to expand the amount of iron ore that we have and firmly believe that we have discovered a world class deposit," executive chairman Clive Sinclair-Poulton says.