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Beowulf Mining
- BY: Andrew Hore |
- POSTED: 08/10/2010 |
- COMMENTS: Add yours
Results from Beowulf Mining’s drilling at Kallak North show that the iron ore deposit is larger than originally expected.
Beowulf plans 3,500 metres of drilling at Kallak South and hopes to show that the two deposits are connected. It is believed that this project could be even larger than Kallak North. Drilling starts in mid-October with the first results before the end of the year.
Detailed interpretation of the Kallak North drilling continues. All of the holes drilled show a grade of at least 25% iron, while many have a grade of up to 40%.
At 7.875p a share, Beowulf is valued at £12m.
Download the October edition of AIM Journal at http://www.hubinvest.com/AIMPDFOctober2010_13.pdf
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