Beowulf Mining confirms higher grade mineralisation at Finnish project

Mineral exploration and development firm Beowulf Mining announced on Friday that drilling has confirmed higher-grade mineralisation at its Aitolampi graphite project in Finland.

The AIM-traded company said that higher grade mineralisation extends at least 150m along strike with mineralised intercepts between 89.6m and 121.68m, and grades ranging from 4.01% to 5.29% in two zones that merge to form a single mineralisation.

Kurt Budge, chief executive of Beowulf Mining, said: "In January 2018, metallurgical test-work demonstrated the broad market attractiveness of the graphite concentrates that we might produce in the future."

Beowulf said test-work has shown that the graphite concentrates at the site have the potential to serve lithium ion battery manufacturers but could also suit a variety of other applications.

"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," said Budge.

Now that drilling has been completed, the company said it will move on with a resource estimate followed by a scoping study.

As of 1040, Beowulf Mining’s shares were up 3.45% at 7.50p.