RCS - Beowulf Mining PLC - Parkijaur nr 8 Exploration Permit Awarded

Beowulf MiningAnnouncement

29/02/2024 07:15

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RNS Number : 8736E  Beowulf Mining PLC  29 February 2024

 

 

 

29 February 2024

Beowulf Mining Plc

 

("Beowulf" or the "Company")

 

 Parkijaur nr 8 Exploration Permit Awarded

 

Beowulf (AIM: BEM; Spotlight: BEO), and its wholly owned Swedish subsidiary
Jokkmokk Iron Mines AB ("Jokkmokk Iron"), are pleased to announce the award of
the exploration permit Parkijaure nr 8. Parkijaure nr 8 is approximately 2,440
hectares in size and is situated south of the Kallak project and immediately
to the south and east of the Company's existing Parkijaure nr 6 exploration
permit (see Figure 1).

Figure 1. Jokkmokk Iron exploration permit areas.

 

The Parkijaure nr 8 exploration permit is prospective for iron ore
mineralisation similar to the deposits defined at Kallak. Processing and
interpretation of historic ground magnetic data has identified a number of
extensive and strongly magnetic anomalies up to four kilometres in strike
length that are believed to host iron ore mineralisation. One historic diamond
drillhole, BH72704 by Geological Survey of Sweden in 1972, has been reported
from the Akkihaure magnetic anomaly in the southernmost part of the permit
averaging 25 per cent iron content. While Jokkmokk Iron has not been able to
locate the original drill log and assay data to confirm the extension of the
iron ore mineralisation in BH72704, the reported grades are encouraging and
highlight the potential for significant iron ore mineralisation in addition to
the known Kallak iron ore deposits.

 

The Parkijaure nr 8 exploration permit was issued with permit identification
number 2024:030 according to the Minerals Act (1991:45) by the Mining
Inspectorate of Sweden ("Bergsstaten"). The exploration permit remains valid
from 27 February 2024 until 27 February 2027 and gives the exclusive right for
the Company to undertake exploration work within the granted area in order to
demonstrate the mineral potential. The terms of Parkijaure nr 8 are standard
for exploration permits with the Company being required to submit a work plan
prior to drilling and other exploration activity, reaching agreements with
landowners to undertake activity and providing compensation for any impacts
caused by this exploration activity.

 

 

Enquiries:

Beowulf Mining plc

Ed Bowie, Chief Executive
Officer
ed.bowie@beowulfmining.com

 

SP Angel

(Nominated Adviser & Joint Broker)

Ewan Leggat / Stuart Gledhill / Adam Cowl           Tel: +44 (0) 20
3470 0470

 

Alternative Resource Capital

(Joint Broker)

Alex Wood
                      Tel: +44 (0) 20 7186 9004

 

BlytheRay

Tim Blythe / Megan Ray
          Tel: +44 (0) 20 7138 3204

 

 

About Beowulf Mining plc

 

Beowulf Mining is a mining company with main activities in exploration and
development in Sweden, Finland and Kosovo. Beowulf's portfolio is diversified
by commodity, geography and stage of development of the
projects and consists primarily of iron ore, graphite, gold and base metals.
Beowulf Mining is headquartered in London, England.

 

 

Cautionary Statement

 

Statements and assumptions made in this document with respect to the Company's
current plans, estimates, strategies and beliefs, and other statements that
are not historical facts, are forward-looking statements about the future
performance of Beowulf. Forward-looking statements include, but are not
limited to, those using words such as "may", "might", "seeks", "expects",
"anticipates", "estimates", "believes", "projects", "plans", strategy",
"forecast" and similar expressions. These statements reflect management's
expectations and assumptions in light of currently available information. They
are subject to a number of risks and uncertainties, including, but not limited
to , (i) changes in the economic, regulatory and political environments in the
countries where Beowulf operates; (ii) changes relating to the geological
information available in respect of the various projects undertaken; (iii)
Beowulf's continued ability to secure enough financing to carry on its
operations as a going concern; (iv) the success of its potential joint
ventures and alliances, if any; (v) metal prices, particularly as regards iron
ore. In the light of the many risks and uncertainties surrounding any mineral
project at an early stage of its development, the actual results could differ
materially from those presented and forecast in this document. Beowulf assumes
no unconditional obligation to immediately update any such statements and/or
forecast.

 

 

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