Beowulf Mining PLC ("Beowulf") is focused primarily on the exploration for world class iron, copper and gold deposits.
Beowulf is working in three areas in Northern Sweden and has identified deposits in two of the areas that will be investigated further by diamond drilling in 2005.
The first is at Jokkmokk, where high grade boulders (15.75% copper) were located by geological investigations in 2003. Diamond drilling by a joint venture of Beowulf and Phelps Dodge Exploration Sweden AB ("Phelps Dodge") in 2004 showed a world class intersection of 110 metres of 0.82% copper equivalent. Further diamond drilling will commence in 2005. The Beowulf exploration rights in the area cover 82 square kilometres.
The second is at Grundtrask in the Skellefte Mining District where the exploration rights cover 43 square kilometres. Diamond drilling in 2004, revealed gold mineralization of over 1 gram per ton over significant widths. Diamond drilling in early 2005 will test a geophysical anomaly with associated sulphide boulders containing up to 10 grams per ton gold, 200 grams per ton silver and 1% copper. The Skellefte Mining District contains major copper and gold deposits, and has seen mining since the 1920s.
The third area is at Ussalahti in the Kiruna Mining District where the exploration rights cover 10 square kilometres. The concessions were granted in January 2005 and are considered prospective for copper and gold volcanogenic massive sulphide deposits.
Beowulf intends to gradually increase its exploration portfolio in Sweden and possibly other Scandinavian countries. To help expand its activities Beowulf will seek other joint venture partners.
Beowulf in the name of an epic poem, which is widely regarded as the first great work of English literature. The company is listed on the London AIM market with the ticker BEM
