Beowulf releases positive test results from Finland

Mineral exploration and development company Beowulf announced testwork results on Wednesday, for composite samples taken from its Haapamäki, Pitkäjärvi and Aitolampi graphite prospects located in eastern Finland, approximately 40 kilometres southwest of the well-established mining town of Outokumpu.

The AIM-traded firm said both Pitkäjärvi and Aitolampi prospects were new discoveries in 2016, and are eastern extensions to the Haapamäki prospect.

Testwork on composite samples for Pitkäjärvi and Aitolampi produced concentrate grades of 94.5% Total Carbon (Ct) and 94.7% Ct, respectively.

A secondary cleaning circuit produced grades of at least 95.7% Ct in all size fractions between 65 mesh and 200 mesh, the board explained, with the highest grade of 97.4% Ct obtained from the -80/+100 mesh size fraction for Pitkäjärvi.

Most of the carbon in the samples was associated with graphite, Beowulf said, with only small amounts of organic carbon and carbonate carbon.

Flake size analysis for Pitkäjärvi concentrate showed 83% fine, 5.6% medium and 11.4% large or jumbo flakes, while flake size analysis for Aitolampi concentrate showed 78.3% fine, 8.8% medium and 12.9% large or jumbo flakes.

Inductively coupled plasma optical emission spectrometry scans and whole-rock analysis showed no elevated concentrations of typical deleterious elements, the board added.

All testwork was performed by SGS Mineral Services in Canada.

“It's good to get some positive testwork results for the composite samples taken from Pitkäjärvi and Aitolampi,” said Beowulf CEO Kurt Budge.

“We are now finalising plans to drill up to 2,000 metres on the most promising electromagnetic targets at these two prospects, with a start date timed in early March.”

Budge said the drilling programme was expected to significantly enhance the firm’s geological understanding of the two prospects, provide representative sample material for further testwork and an assessment of commercial prospects, “for example in battery, micronised and expandable graphite applications”.

“We look forward to providing shareholders with further updates on our progress and findings.”