Beowulf Mining kicks off drill testing at Ballek project in sweden
03 February 2010
Beowulf Mining, the mineral explorer behind a string of projects in Sweden, has reported that drilling is underway on its copper-gold-uranium joint venture project at Ballek.
The work will involve 1,600m of drilling over the course of one month with the results due by the end of April.
Beowulf got its hands on Ballek in September last year when it acquired a package of assets from Plus-quoted Agricola Resources. At the time, it launched a joint venture initiative that gave Australian-listed Energy Ventures the chance to earn-in to a 50% interest in Ballek by sole funding and completing 1,600 metres of diamond drilling on-site by the end of March.
Ballek includes the Lulepotten copper gold deposit, which has a JORC-compliant Inferred Resource of 5.4 million tonnes grading 0.8% copper and 0.3 grams per ton of gold.
Clive Sinclair-Poulton, the executive chairman of Beowulf, said: “Freezing climatic conditions may bring chaos in the UK and Ireland, but in Sweden it allows easier site access for drilling crews. We believe that the upcoming drill programme will further show the potential of our Ballek copper resource and I look forward to updating shareholders in due course following receipt of results from the initial drill targets.”
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