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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Beowulf Mining Plc | LSE:BEM | London | Ordinary Share | GB0033163287 | ORD 0.1P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.60 | 0.55 | 0.65 | 0.60 | 0.60 | 0.60 | 1,528,403 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Coal Mining Services | 0 | -2.86M | -0.0025 | -2.40 | 6.94M |
From Apr 2019 to Apr 2024
TIDMBEM
RNS Number : 1051N
Beowulf Mining PLC
04 May 2018
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations ("MAR") (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is being made on behalf of Kurt Budge, Chief Executive Officer.
4 May 2018
Beowulf Mining plc
("Beowulf" or the "Company")
Aitolampi Assay Results
Beowulf (AIM: BEM; Aktietorget: BEO), the mineral exploration and development company, focused on the Kallak magnetite iron ore project and the Åtvidaberg polymetallic exploration licence in Sweden, and its graphite portfolio in Finland, is pleased to announce assay results for its latest drilling campaign at its Aitolampi graphite project in Finland. Aitolampi is part of the Company's 100% owned Exploration Permit Pitkäjärvi 1.
Highlights:
-- Drilling has confirmed the continuity of mineralisation between holes drilled in 2017, wide graphite lenses extending along strike, at least 350 metres ("m") along the main conductive zone (the main electro-magnetic ("EM") anomaly extends for 700m), and at depth.
-- For the two parallel higher-grade zones previously identified, mineralisation has a strike length of at least 150m (the two parallel conductive zones extend for 300m and 250m), and these zones seem to merge to form one body of mineralisation.
-- From northwest to southeast along strike, drill holes AITDD18014, AITDD18016, AITDD18015, AITDD18017 and AITD18018 (drilled on the same profile), all intersected this higher-grade body of mineralisation, with intercepts of 89.60m at 4.01% Total Graphite Carbon ("TGC"), 107.09m at 4.59% TGC, 108.69m at 5.04% TGC, 121.68% at 5.00% TGC and 121.46m at 5.29% TGC respectively.
-- For these holes, intercepts showing greater than 5% TGC were as follows: AITDD18014 - 30.10m at 5.75% TGC; AITDD18016 - 29.00m at 6.04% TGC; AITDD18017 - 62.42m at 6.08% TGC; and AITDD18018 - 92.46m at 6.19% TGC, including 44.00m at 7.08% TGC.
-- AITDD18018 is the furthest hole drilled to the southeast, to test the parallel higher-grade conductive zone, which remains open in all directions.
-- Within the Company's Pitkäjärvi licence area, several extensive EM conductors, associated with graphite observed in surface outcrops, have yet to be drilled, are prospective for graphite mineralisation and offer potential upside.
-- Follow the link https://beowulfmining.com/projects/finland/aitolampi/#geology for plans and sections.
Kurt Budge, CEO, commented:
"I am really pleased with the latest assay results from this year's drilling programme. In January 2018, metallurgical testwork demonstrated the broad market attractiveness of the graphite concentrates that we might produce in the future. Not only do we have the potential to serve lithium ion battery manufacturers, but the Aitolampi concentrates' chemical and physical properties could also suit many other applications.
"This year's drilling shows that higher-grade mineralisation extends at least 150m along strike, with mineralised intercepts ranging from 89.6m to 121.68m, grades ranging 4.01% to 5.29%, and remaining open in all directions. This all adds to work we carried out in 2017, defining the main conductive zone at Aitolampi. We now look forward to producing a Maiden Resource Estimate ("MRE") (JORC Code 2012 edition), and thereafter a Scoping Study.
"We have a supportive environment in Finland for battery minerals and metals producers, which is materialising into new networks, partnerships, projects, and funding opportunities, as evidenced by our involvement in the raw materials suppliers' Cooperation Network, and the funding we have received from Business Finland.
"Recently, we announced the award of contracts for the MRE, and an Environmental and Social Impact Assessment Roadmap, and we will shortly commence baseline environmental and biodiversity studies.
"We have a busy few months ahead, and we look forward to updating shareholders on our progress in due course."
Assay Results:
*Lengths in metres, and mineralised intercepts are the down-hole widths and are not the true widths.
** No cut-off grade applied.
Hot Features
Premium
Hole ID From To *Width **TGC % Location - Comments
DD18009 74.42 149.00 74.58 3.28 Down-dip AITDD17001 and AITDD17007, Main Conductive Zone
------- ------- ------- -------- --------------------------------------------------------------------
including 96.00 140.00 44.00 4.42
------- ------- ------- -------- --------------------------------------------------------------------
including 112.00 134.00 22.00 5.07
------- ------- ------- -------- --------------------------------------------------------------------
DD18010 50.45 116.00 65.55 3.34 Down-dip AITDD17002 and AITDD17008, Main Conductive Zone
------- ------- ------- -------- --------------------------------------------------------------------
including 69.70 108.55 38.85 4.09
------- ------- ------- -------- --------------------------------------------------------------------
DD18011 19.44 69.16 49.72 4.19 Infill between AITDD17003 and AITDD17004, Main Conductive Zone
------- ------- ------- -------- --------------------------------------------------------------------
including 40.77 65.58 24.81 5.07
------- ------- ------- -------- --------------------------------------------------------------------
DD18012 1.60 33.14 31.54 3.10 Down-dip AITDD18011, Main Conductive Zone, 50m NW strike extension
from AITDD17005 of Parallel
Conductive Zone 1 (started in graphite)
------- ------- ------- -------- --------------------------------------------------------------------
And 72.81 124.00 51.19 4.21
------- ------- ------- -------- --------------------------------------------------------------------
including 87.00 115.94 28.94 5.06
------- ------- ------- -------- --------------------------------------------------------------------
DD18013 4.60 36.00 31.40 3.22 Infill between AITDD17003 and AITDD18011/12, Main Conductive Zone,
50m NW strike extension
from AITDD18012 of Parallel Conductive Zone 1 (started in graphite)
------- ------- ------- -------- --------------------------------------------------------------------
And 75.00 130.00 55.00 3.44
------- ------- ------- -------- --------------------------------------------------------------------
including 102.22 127.55 25.33 4.48
------- ------- ------- --------
including 110.00 124.00 14.00 5.02
------- ------- ------- -------- --------------------------------------------------------------------
DD18014 3.70 136.00 132.30 3.47 Down-dip AITDD17003, Main Conductive Zone, 50m NW strike extension
from AITDD18013 of Parallel
Conductive Zone 1, 50m NW strike extension from AITDD17006 of
Parallel Conductive Zone 2
------- ------- ------- -------- --------------------------------------------------------------------
including 24.40 114.00 89.60 4.01
------- ------- ------- -------- --------------------------------------------------------------------
including 28.00 58.10 30.10 5.75
------- ------- ------- --------
including 40.00 49.90 9.90 7.11
------- ------- ------- --------
And 182.00 227.00 45.00 4.10
------- ------- ------- -------- --------------------------------------------------------------------
DD18015 20.70 146.75 126.05 4.60 Down-dip of AITDD18012 of Parallel Conductive Zone 1, 50m SE strike
extension from AITDD17006
of Parallel Conductive Zone 2
------- ------- ------- -------- --------------------------------------------------------------------
including 35.16 143.85 108.69 5.04
------- ------- ------- -------- --------------------------------------------------------------------
including 101.60 141.00 39.40 6.06
------- ------- ------- --------
including 101.60 107.75 6.15 7.56
------- ------- ------- -------- --------------------------------------------------------------------
DD18016 78.00 185.09 107.09 4.59 Down-dip of AITDD17006 of Parallel Conductive Zones 1 and 2
------- ------- ------- -------- --------------------------------------------------------------------
including 81.90 110.10 28.20 5.06
------- ------- ------- -------- --------------------------------------------------------------------
including 131.00 181.08 50.08 5.34
------- ------- ------- --------
including 139.00 168.00 29.00 6.04
------- ------- ------- -------- --------------------------------------------------------------------
DD18017 26.16 160.80 134.64 4.65 Down-dip of AITDD17005 of Parallel Conductive Zone 1, 50m SE strike
extension from AITDD18015
of Parallel Conductive Zone 2
------- ------- ------- -------- --------------------------------------------------------------------
including 39.12 160.80 121.68 5.00
------- ------- ------- -------- --------------------------------------------------------------------
including 89.00 151.42 62.42 6.08
------- ------- ------- --------
including 99.00 112.62 13.62 7.48
------- ------- ------- --------
including 119.90 140.00 20.10 7.14
------- ------- ------- -------- --------------------------------------------------------------------
DD18018 64.00 185.46 121.46 5.29 Down-dip of AITDD18017 of Parallel Conductive Zones 1 and 2
------- ------- ------- -------- --------------------------------------------------------------------
including 91.00 183.46 92.46 6.19
------- ------- ------- -------- --------------------------------------------------------------------
including 128.00 172.00 44.00 7.08
------- ------- ------- --------
including 158.00 172.00 14.00 8.00
------- ------- ------- -------- --------------------------------------------------------------------
Aitolampi - Background
Aitolampi is in eastern Finland, approximately 40 kilometres southwest of the well-established mining town Outokumpu. Infrastructure in the area is excellent, with road access and good availability of high voltage power.
Latest Metallurgical Testwork - Marketing Assessment
The latest round of metallurgical testwork has been conducted by ProGraphite Gmbh ("ProGraphite") based in Germany. ProGraphite specialises in the processing and evaluation of graphite materials.
Concentrates produced by SGS Minerals Services were combined and sent to ProGraphite in the fourth quarter last year. The objective of the advanced testwork was to determine the suitability of Aitolampi concentrates for different market applications.
The following tests were undertaken:
-- Concentrate Product Characterisation (LOI/Fixed carbon on concentrate and mesh fractions, bulk densities, Specific Surfaces Analysis (SSA), Thermogravimetric Analysis (TGA), Inductively Coupled Plasma ("ICP") analysis, and X-ray Diffraction ("XRD") analysis;
-- Purification Processing (Acid purification, Alkaline purification, and ICP analysis on purified graphite); and
-- Production of Expandable Graphite.
The following results were achieved:
-- Results show that both acid and alkaline purification methods can produce a very clean concentrate of greater than 99.41% C(t).
-- The alkaline method, using standard formulation, produced the highest grades, 99.82% C(t) for the -100-mesh concentrate, and 99.86% C(t) for the +100-mesh concentrate.
-- Results obtained from acid purification reached 99.6% C(t) for the +100-mesh fraction.
-- The alkaline and acid purification results indicate that, with some process optimisation, Aitolampi concentrates may meet the purity specification of 99.95% C(t) required for the lithium ion battery market.
-- There is also a good market for the -100 mesh and greater than 95% C(t) concentrate.
-- Carbon content in all fractions, including the fines, is very high and ranges from 96.25 to 97.61% C(t). The demand is significant for fine graphite with high carbon, across various applications.
-- Aitolampi graphite shows high crystallinity, with the degree of graphitisation measuring approximately 98%, which is almost perfect crystallinity, and an important consideration for battery manufacturers seeking high energy density in cells.
-- Volatiles are low which is an attractive product attribute, and often a pre-condition, in many applications, including refractories, lubricants, crucibles, and foundries.
-- SSA is comparable to that of high quality flake graphite from China.
-- Oxidation behaviour, tested with TGA analysis, is comparable with Chinese graphite of the same flake size, used for refractories, and other high temperature applications.
-- ICP analysis, for elemental impurities in the alkaline purified concentrate, showed that impurities could be reduced to significantly lower levels by intensifying purification, optimising the amount of chemicals used, and process parameters, such as reaction time and temperature.
Competent Person Review
The information in this announcement has been reviewed by Mr. Rasmus Blomqvist, a Competent Person who is a Member of the Australasian Institute of Mining and Metallurgy. Mr. Blomqvist has sufficient experience, that is relevant to the style of mineralisation and type of deposit taken into consideration, and to the activity being undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the "Australasian Code of Reporting of Exploration Results, Mineral Resources and Ore Reserves".
Mr. Blomqvist is a full-time employee of Oy Fennoscandian Resources AB, a 100 per cent owned subsidiary of Beowulf.
Enquiries:
Beowulf Mining plc Kurt Budge, Chief Executive Officer Tel: +44 (0) 20 3771 6993 Cantor Fitzgerald Europe (Nominated Adviser & Broker) David Porter Tel: +44 (0) 20 7894 7000 Blytheweigh Tim Blythe / Megan Ray Tel: +44 (0) 20 7138 3204
Cautionary Statement
Statements and assumptions made in this document with respect to the Company's current plans, estimates, strategies and beliefs, and other statements that are not historical facts, are forward-looking statements about the future performance of Beowulf. Forward-looking statements include, but are not limited to, those using words such as "may", "might", "seeks", "expects", "anticipates", "estimates", "believes", "projects", "plans", strategy", "forecast" and similar expressions. These statements reflect management's expectations and assumptions in light of currently available information. They are subject to a number of risks and uncertainties, including, but not limited to, (i) changes in the economic, regulatory and political environments in the countries where Beowulf operates; (ii) changes relating to the geological information available in respect of the various projects undertaken; (iii) Beowulf's continued ability to secure enough financing to carry on its operations as a going concern; (iv) the success of its potential joint ventures and alliances, if any; (v) metal prices, particularly as regards iron ore. In the light of the many risks and uncertainties surrounding any mineral project at an early stage of its development, the actual results could differ materially from those presented and forecast in this document. Beowulf assumes no unconditional obligation to immediately update any such statements and/or forecasts.
JORC Code, 2012 Edition - Table 1
Section 1 Sampling Techniques and Data
Criteria JORC Code explanation Commentary
Sampling
techniques * Nature and quality of sampling (eg cut channels, * Diamond drill core was sampled based on visually
random chips, or specific specialised industry observed graphite mineralisation.
standard measurement tools appropriate to the
minerals under investigation, such as down hole gamma
sondes, or handheld XRF instruments, etc). These * The drill core was quarter-cut.
examples should not be taken as limiting the broad
meaning of sampling.
* Sampling was carried out under the Company's sampling
protocols and QA/QC procedures as per industry best
* Include reference to measures taken to ensure sample practice.
representivity and the appropriate calibration of any
measurement tools or systems used.
* The drill core has been sampled on geological
intervals (1m to 3m intervals) and 2m intervals
* Aspects of the determination of mineralisation that within wider mineralised intercepts where
are Material to the Public Report. appropriate. All samples were crushed and pulverized
to produce a sub-sample to be analysed for Graphitic
C by Leco furnace, Total C by Leco furnace and Total
* In cases where 'industry standard' work has been done S by Leco furnace and infrared spectroscopy.
this would be relatively simple (eg 'reverse
circulation drilling was used to obtain 1 m samples
from which 3 kg was pulverised to produce a 30 g
charge for fire assay'). In other cases more
explanation may be required, such as where there is
coarse gold that has inherent sampling problems.
Unusual commodities or mineralisation types (eg
submarine nodules) may warrant disclosure of detailed
information.
Drilling
techniques * Drill type (eg core, reverse circulation, open-hole * Diamond drilling was carried out by Northdrill Oy
hammer, rotary air blast, auger, Bangka, sonic, etc) ("Northdrill") from Finland.
and details (eg core diameter, triple or standard
tube, depth of diamond tails, face-sampling bit or
other type, whether core is oriented and if so, by * Using WL76 equipment with a core diameter of 61.77mm.
what method, etc).
* Core orientation was completed for all holes using
Reflex ACT 3 core orientation tool.
* Downhole surveys for all drill holes were completed
by Northdrill using a Deviflex instrument.
Drill sample
recovery * Method of recording and assessing core and chip * The core recovery was physically measured and
sample recoveries and results assessed. recorded by the drillers for every core run. Any core
loss was recorded on the core blocks.
* Measures taken to maximise sample recovery and ensure
representative nature of the samples. * Core recovery was double-checked and measured for all
drill holes by the Company`s geologists logging the
core. The core length recovered was calculated as a
* Whether a relationship exists between sample recovery percentage of the theoretical core length.
and grade and whether sample bias may have occurred
due to preferential loss/gain of fine/coarse
material. * No additional measures were taken to maximize the
core recovery.
* The core recovery was generally very good. A sampling
bias has not been determined.
Logging
* Whether core and chip samples have been geologically * All drill core was geologically logged determining
and geotechnically logged to a level of detail to lithology, mineralogy, mineralization, texture, and
support appropriate Mineral Resource estimation, structural observations.
mining studies and metallurgical studies.
* Density, RQD and core recovery was measured for all
* Whether logging is qualitative or quantitative in drill core by the Company`s geologists.
nature. Core (or costean, channel, etc) photography.
* All drill core was photographed in wet and dry states
* The total length and percentage of the relevant after logging was completed and sample intervals had
intersections logged. been marked on the core boxes.
Sub-sampling
techniques * If core, whether cut or sawn and whether quarter, * The drill core was quarter-cut. All core sawing was
and sample half or all core taken. done by ALS Finland Oy ("ALS") in Outokumpu.
preparation
* If non-core, whether riffled, tube sampled, rotary * Samples were prepared by ALS as per industry best
split, etc and whether sampled wet or dry. practice. The entire sample is crushed with more than
70% passing the
* For all sample types, the nature, quality and
appropriateness of the sample preparation technique. * Certified standards at a rate of 1:20 and blanks were
inserted at a rate of 1:25 where practicable.
* Quality control procedures adopted for all
sub-sampling stages to maximise representivity of * The sample sizes were considered appropriate for the
samples. type of mineralization (graphite)
* Measures taken to ensure that the sampling is
representative of the in-situ material collected,
including for instance results for field
duplicate/second-half sampling.
* Whether sample sizes are appropriate to the grain
size of the material being sampled.
Quality of
assay data * The nature, quality and appropriateness of the * All samples were assayed for total graphitic carbon
and assaying and laboratory procedures used and whether by Leco furnace. Graphitic C is determined by
laboratory the technique is considered partial or total. digesting sample in 50% HCl to evolve carbonate as
tests CO(2) . Residue is filtered, washed, dried, and then
roasted at 425 C. The roasted residue is analysed for
* For geophysical tools, spectrometers, handheld XRF C by high temperature Leco furnace with infrared
instruments, etc, the parameters used in determining detection.
the analysis including instrument make and model,
reading times, calibrations factors applied and their
derivation, etc. * All samples were assayed for total carbon by Leco
furnace.
* Nature of quality control procedures adopted (eg
standards, blanks, duplicates, external laboratory * All samples were assayed for total Sulphur by Leco
checks) and whether acceptable levels of accuracy (ie furnace and infrared spectroscopy.
lack of bias) and precision have been established.
* The analytical methods are considered appropriate for
the style of mineralisation.
* Duplicate samples were completed at a rate of 1:20
where practicable. Duplicates for all holes are
satisfactory.
* Certified standards were inserted at a rate of 1:20
and blanks were inserted at a rate of 1:25 where
practicable. Standard and blank results are within
accepted limits.
* Laboratory QA/QC methods include insertion of
certified standards, blanks and duplicates.
* External laboratory checks at Actlabs Finland at rate
of 1:40 for laboratory pulps and 1:40 for coarse
rejects where practicable.
Verification
of sampling * The verification of significant intersections by * Rasmus Blomqvist, the Competent Person to this report
and assaying either independent or alternative company personnel. has reviewed the drill core and verified significant
graphite intersections.
* The use of twinned holes.
* No twinned holes have been drilled.
* Documentation of primary data, data entry procedures,
data verification, data storage (physical and * All location, geological and geotechnical data has
electronic) protocols. been electronically stored in excel spreadsheets with
several back-ups of all data.
* Discuss any adjustment to assay data.
* No adjustments have been done to any assay data in
this report.
Location of
data points * Accuracy and quality of surveys used to locate drill * All drill hole collars have been surveyed by T&J
holes (collar and down-hole surveys), trenches, mine Holmback Ab Oy using a DGPS with an accuracy of
workings and other locations used in Mineral Resource +/-1cm.
estimation.
* Downhole surveys for all drill holes completed on
* Specification of the grid system used. regular intervals by Northdrill using a Deviflex
instrument.
* Quality and adequacy of topographic control.
* The grid system used is EUREF FIN TM35FIN.
* The topographic data used for the drill sections has
been gridded from elevation data acquired from the
National Land Survey of Finland.
Data spacing
and * Data spacing for reporting of Exploration Results. * The spacing between the drilled profiles is
distribution approximately 50-100m.
* Whether the data spacing and distribution is
sufficient to establish the degree of geological and
grade continuity appropriate for the Mineral Resource
and Ore Reserve estimation procedure(s) and
classifications applied.
* Whether sample compositing has been applied.
Orientation
of data in * Whether the orientation of sampling achieves unbiased * All drill holes have been drilled perpendicular to
relation to sampling of possible structures and the extent to the interpreted strike of the mineralization and
geological which this is known, considering the deposit type. lithology.
structure
* If the relationship between the drilling orientation * No sampling bias as consequence of orientation-based
and the orientation of key mineralised structures is sampling has been identified.
considered to have introduced a sampling bias, this
should be assessed and reported if material.
Sample
security * The measures taken to ensure sample security. * The sample 'chain of custody' is managed by the
Company's geological personnel.
* All core is stored in a locked facility in Kaarina.
Audits or
reviews * The results of any audits or reviews of sampling * No external review of the sampling techniques and
techniques and data. data has been completed.
============= ============================================================ ============================================================
Section 2 Reporting of Exploration Results
Criteria JORC Code explanation Commentary
Mineral
tenement and * Type, reference name/number, location and ownership * The Aitolampi mineralisation is located within
land tenure including agreements or material issues with third exploration permit Pitkäjärvi
status parties such as joint ventures, partnerships, (ML2016:0040).
overriding royalties, native title interests,
historical sites, wilderness or national park and
environmental settings. * The exploration permit is 100% owned by the Company's
Finnish subsidiary Oy Fennoscandian Resources Ab. No
native title interest, historical sites, national
* The security of the tenure held at the time of parks or nature conservation areas exist within the
reporting along with any known impediments to exploration permit.
obtaining a licence to operate in the area.
* The exploration permit is in good standing with the
local mining authority TUKES.
Exploration
done by other * Acknowledgment and appraisal of exploration by other * No historic exploration for graphite has been done at
parties parties. the Aitolampi prospect.
Geology
* Deposit type, geological setting and style of * The Pitkäjärvi exploration permit area
mineralisation. belongs to the geological unit of the Karelian domain,
part of the proterozoic svecokarelian supracrustal
rocks. The area is in a regional open fold of
considerable size, about 10 kilometres ("km") wide
and 20-30km long which is cut by a regional fault
zone(s) in the northeast. The fold is clearly visible
on aeromagnetic and electromagnetic maps.
Quartz-feldspar-biotite gneiss is the most common
rock type in the area. The main mineral composition
of the gneiss is quartz, feldspars (mainly
plagioclase), micas (mainly biotite) +/- graphite.
Accessory minerals seen in thin sections are zircons,
garnets, sericite and chlorite. Graphite schist is
common as layers and lenses in the
quartz-feldspar-biotite gneiss. These metasediments
have been metamorphosed to the upper amphibolite to
granulite facies (650-700 ˚C, 4-5 kbar).
* The graphite mineralisation at Aitolampi comprises
several graphite lenses which generally extend for
several hundred metres along strike and dips 40-50 to
SW. Based on the completed drill program the known
graphite/sulphide bearing lenses consists of 40-140m
wide continuous units of predominately fine to medium
graphite flakes, containing approximately 4% total
graphitic carbon. The hanging- and footwall is
comprised of quartz-feldspar-biotite rich gneisses
with common garnet porphyroblasts. The graphitic
lenses are commonly intruded by pegmatite veins which
vary in thickness from few decimeters to tens of
meter.
Drill hole
Information * A summary of all information material to the * A tabulation of the mineralised down hole
understanding of the exploration results including a interception length and depth can be found in this
tabulation of the following information for all report.
Material drill holes:
* Maps and sections showing the drill hole location,
o easting and northing azimuth, dip, length of holes and mineralised
of the drill hole interceptions can be found at www.beowulfmining.com.
collar
o elevation or RL
(Reduced Level -
elevation above
sea level in metres)
of the drill hole
collar
o dip and azimuth
of the hole
o down hole length
and interception
depth
o hole length.
* If the exclusion of this information is justified on
the basis that the information is not Material and
this exclusion does not detract from the
understanding of the report, the Competent Person
should clearly explain why this is the case.
Data
aggregation * In reporting Exploration Results, weighting averaging * No cut-off grade has been applied in this report.
methods techniques, maximum and/or minimum grade truncations
(eg cutting of high grades) and cut-off grades are
usually Material and should be stated. * No metal equivalents have been used in this report.
* Where aggregate intercepts incorporate short lengths
of high grade results and longer lengths of low grade
results, the procedure used for such aggregation
should be stated and some typical examples of such
aggregations should be shown in detail.
* The assumptions used for any reporting of metal
equivalent values should be clearly stated.
Relationship
between * These relationships are particularly important in the * Only the down hole lengths are reported, true width
mineralisation reporting of Exploration Results. not known.
widths and
intercept
lengths * If the geometry of the mineralisation with respect to
the drill hole angle is known, its nature should be
reported.
* If it is not known and only the down hole lengths are
reported, there should be a clear statement to this
effect (eg 'down hole length, true width not known').
Diagrams
* Appropriate maps and sections (with scales) and * Appropriate maps, sections and tabulations can be
tabulations of intercepts should be included for any found at www.beowulfmining.com.
significant discovery being reported These should
include, but not be limited to a plan view of drill
hole collar locations and appropriate sectional
views.
Balanced
reporting * Where comprehensive reporting of all Exploration * Both low and high grades and the widths of the
Results is not practicable, representative reporting intercepts are reported.
of both low and high grades and/or widths should be
practiced to avoid misleading reporting of
Exploration Results.
Other
substantive * Other exploration data, if meaningful and material, * Previous drill results were announced on 24 May 2017.
exploration should be reported including (but not limited to): The announcement can be found at
data geological observations; geophysical survey results; https://polaris.brighterir.com/public/beowulf_mining_p
geochemical survey results; bulk samples - size and lc/news/rns/story/wkpd4dr
method of treatment; metallurgical test results; bulk
density, groundwater, geotechnical and rock
characteristics; potential deleterious or
contaminating substances. * Previous metallurgical test results and market
application tests from drill core samples at
Aitolampi were announced on 30 January 2018 and 2
October 2017. These announcements can be found at
https://polaris.brighterir.com/public/beowulf_mining_p
lc/news/rns/story/rnq570r
and
https://polaris.brighterir.com/public/beowulf_mining_p
lc/news/rns/story/x4qj0dr
Further work
* The nature and scale of planned further work (eg * A Maiden Mineral Resource Estimate will be completed
tests for lateral extensions or depth extensions or by CSA Global Pty Ltd, followed by a Scoping Study
large-scale step-out drilling). (contract not awarded).
* Diagrams clearly highlighting the areas of possible * An Environmental and Social Impact Assessment Roadmap
extensions, including the main geological will be completed by Pöyry Finland Oy followed
interpretations and future drilling areas, provided by environmental and biodiversity baseline studies.
this information is not commercially sensitive.
=============== ============================================================ =============================================================
This information is provided by RNS
The company news service from the London Stock Exchange
END
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