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Beowulf restarts drilling at Aitolampi

Nordic-focused explorer and developer Beowulf Mining (AIM:BEM) has started the 2019 drilling programme at the Aitolampi graphite project in Finland.
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Beowulf plans to drill seven holes for around 1,040m at Aitolampi

Staff reporter

Beowulf plans to drill seven holes for around 1,040m, of which four holes will test potential higher-grade mineralised zones to the south-east of the hole that intersected 92.5m at 6.19% total graphite carbon.

The remaining three holes will target previously untested geophysical anomalies.

Beowulf also plans to generate sample material from the drilling to support baseline environmental studies and graphite purification and spheroidisation test work.

The sample material will also be used for the assessment of the project's graphite for battery applications as part of the Business Finland-funded BATCircle project.

Finnish contractor Northdrill Oy will carry out the drill campaign.

CEO Kurt Budge said Beowulf was focused on developing a "resource footprint" of natural flake graphite in Finland to provide "security of raw material supply" and allow the country to achieve self-sufficiency in battery manufacturing. 

Last year, the company announced Aitolampi's maiden indicated and inferred mineral resource estimate of 19.3 million tonnes at 4.5% TGC for 878,000 tonnes of contained graphite, comprising eastern and western lenses above a 3% TGC cut-off grade.

Beowulf's shares fell 4.97% Wednesday to 7.13p (US9.41c), up from 6.15p six months ago.