News

September 16, 2008

Beowulf Delivers Some Hard Numbers, And A Decent Presentation At The Minesite Forum Too

By Rob Davies

In a world where two leading investment banks can disappear in the space of a single weekend it is always good to get your teeth into something tangible. And there is nothing more solid than an ore resource in a country with good infrastructure and a solid legal code. Bob Young, chairman of Beowulf Mining, has delivered an ore resource on the Lulepotten deposit at Ballak in northern Sweden, as he has been promising for some time that he would. It might not be huge, but at 5.4 million tonnes with a grade of 0.8% copper and 0.3 grammes per tonne gold it does have contained metal totalling 43,000 tonnes of copper and 53,000 ounces of gold.

And, while this is nowhere near an economically exploitable resource the deposit is open along strike and at depth. What is most significant about this statement, though, is that it has been calculated without a single additional hole being drilled. All the data used was from existing core drilled by the Swedish Geological Survey. All Beowulf did was to check and confirm drill collar positions and re-log the core. The sulphide mineralisation is located in the metamorphosed contact between a...