Announcement Date: 2022-08-22
Announcement Type: Drilling Results
Announcement Code: (other Code)
Company name: Beowulf Mining Plc
Project name: Mitrovica
Location: Kosovo
Commodities: Gold
Highlight: Drilling results incl. 29.5m @ 0.21g/t Au from 196.7m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Beowulf (AIM: BEM; Spotlight: BEO), the mineral exploration and development company, is pleased to announce the first exploration results from the Majdan Peak (“MP”) prospect, within the Mitrovica licence, in Kosovo and the discovery of a large polymetallic epithermal system. Polymetallic epithermal deposits (copper, gold and lead-zinc) form at shallow depths within the earth’s crust and are important sources of base and precious metals and therefore constitute highly desirable exploration targets. Mineralisation is similar to that seen at the Chelopech copper-gold deposit in Bulgaria, owned by Dundee Precious Metals (https://www.dundeeprecious.com/). The orebodies at Chelopech range from 40-200 metres in length, are 20-130 metres in thickness and can extend for up to 400 metres down plunge. Based on the similarities in the style of mineralisation at Majdan Peak, the Vardar team considers Chelopech to be a potential analogue deposit formed in this geological environment (Chelopech copper-gold deposit: Proven and Probable ore reserves of 1.6 million ounces of gold and 336 million pounds of copper).
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