Beowulf provides Åtvidaberg exploration update
Wednesday, Jan 31, 2018
Beowulf, the mineral exploration and development company, focused on the Kallak magnetite iron ore project and the Åtvidaberg polymetallic exploration licence in Sweden, and its graphite portfolio in Finland, provides an update on its 2018 exploration plans for its Åtvidaberg nr. 1 licence in southern Sweden.

Highlights

  • Studies of historic records, and the development of a 3-D model of underground mining areas and orebodies, show that mines around Bersbo appear to have been shut while still mining zinc mineralisation, in the form of massive sphalerite (zinc iron sulphide mineral). The exploration hypothesis is that zinc ore, and some mixed with chalcopyrite (copper iron sulphide mineral), may still be present below 350 metres ("m") depth in sufficient quantities to support renewed mining.
  • At Bersbo, historic mines are positioned on the eastern limb of a syncline, plunging to the northwest.  Mine production ceased with a transition out of 'wanted' copper ore, chalcopyrite.
  • The 3-D model, and existing geophysics, show prospective targets:
  • at the hinge of the syncline;
  • for the eastern limb, eastwards, with potential for additional mineralised width, or bodies of parallel mineralisation; and
  • to the northwest, potential continuation of mineralisation along the eastern limb.
  • There is no evidence of mining around the western limb, and this will be investigated further.
  • In the coming weeks, a ground Fixed Loop Electromagnetic ("FLEM") survey will be carried out. The survey will include seven fixed loops across former mining areas: Bersbo; Bersbo West; Gruvsjöhöjden; and Grönhög.  The FLEM data will provide much better resolution, for areas previously covered by VTEM, and known aeromagnetic anomalies.  Using the results of the FLEM survey, the Company intends to select targets for drilling.
  • In 2016, "grab" samples taken from road fill in the Bersbo area, made up of sphalerite, yielded up to 19.7 per cent zinc, while samples from waste dumps of chalcopyrite yielded up to 1.7 per cent copper.

"Grab" samples were collected in isolation and therefore cannot be considered representative of the grade of mineralisation over a deposit, but nevertheless give a range of values that are indicative of the potential for the targets being investigated, and which have assisted the Company's exploration team in planning work.

All samples were assayed for the Company by ALS Minerals ("ALS") in Sweden.

Kurt Budge, CEO, commented:
 
"Our steady progress with Åtvidaberg is starting to yield some promising results. Seeing the 3-D model of Bersbo, depicting past miners' efforts, and the zinc and copper ore that could remain, was a revelation.

"The FLEM survey will help us refine what we already know and guide our target selection for drilling, and we have several interesting targets to cover.

"This is still early stage exploration, as we've yet to drill our first hole, but it's good to be actively creating additional opportunities for the Company in Sweden."

For more information, please visit:  http://beowulfmining.com/

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