Encouraging assay results for Beowulf

8th Oct 2010 09:04

The share price of Beowulf Mining continued its epic journey north on Friday after the company announced encouraging drilling results.The first complete assay results for 15 holes drilled as part of the drilling programme on its wholly-owned Kallak Iron Ore deposit, located within the municipality of Jokkmokk in northern Sweden, have now been received, and the results are encouraging, the company said.The results confirm extended iron mineralisation, with several 100 metre sections having iron mineralisation of over 30% Fe (iron).Analytical testing on the remaining holes is expected to be completed shortly, with results anticipated to be received, at the earliest, towards the end of October.The company has entered into a new drilling contract of 3,500 metres for the Kallak South deposit, which is planned to commence by mid-October 2010."The Kallak North results and those anticipated from Kallak South, along with the 140m tonnes so far recorded at Ruoutevare, allow the company a high level of confidence in our expectations of Beowulf becoming a major player in the European iron ore sector," said executive chairman of Beowulf, Clive Sinclair-Poulton.