Beowulf upbeat on drilling at Aitolampi

Mineral exploration and development company Beowulf updated the market on its graphite drilling programme at its Aitolampi prospect, part of its 100% owned Pitkäjärvi 1 exploration permit, on Monday.

The AIM-traded firm said four diamond drill holes were completed as part of an eight hole programme, with approximately 505 metres drilled in total, with drill holes extended 350m along strike for the main conductive zone.

Substantial widths of graphite mineralisation, up to 100m down-hole width, had been intersected, which corresponded with identified electromagnetic conductors.

Beowulf said it should be noted that the mineralisation intercept was the down-hole width and may not be the true width.

Samples were being sent for assay at ALS Minerals in Finland, concurrently with the drilling programme.

“We are making excellent progress with the graphite drilling at Aitolampi and, having

completed approximately 505m out of a 1,300m drilling programme, we are encouraged by

the results,” said chief executive Kurt Budge.

“We have observed significant lengths of graphite in all holes drilled to date, in the areas where we have previously identified EM conductors.”

Budge said drilling should be completed shortly, and with sample deliveries to ALS Minerals in Outokumpu having already commenced, the board was looking forward to reporting the assay results in April.

“Composite samples are also being prepared, which will be sent to an accredited laboratory, for metallurgical testwork, after drilling is completed.

“All this work will further support our assessment of a potential resource and the commercial prospects of the graphite that we are finding.”