LONDON: 7 June 2005 - Beowulf Mining PLC ("Beowulf"), the AIM-traded exploration company, reports the analytical results from the drilling program that took place during February and March at Grundtrask in the Skellefte Mining District of northern Sweden.
Gold analysis from hole 5004 yielded a 30.23 m section (16.2 to 46.4 m) with an average grade of 1.14 grams per tonne and included a section of 6m of 2.16 grams per tonne. The hole 5004 was in the "Central Zone Mineralisation" at Grundtrask? , which is now proven to extend for 675 metres. The zone is open to the northwest and southeast. The Directors believe that geophysical data indicate that the Central Zone Mineralisation extends for a further 1 kilometre at both ends.
Drill holes 5001 and 5002 that tested outlying areas of interest did not intersect significant gold mineralisation.
The present drilling has been carried out using core drilling, which only retrieves drill cores with a diameter of 42mm. Other operators in the Skellefte Mining District (Mawson Resources, Lappland Gold and Dragon Mining) have shown that higher grades of gold, possibly showing the true gold grade, have been obtained using large diameter reverse circulation drilling. Thus the next drilling at Grundtrask will be this large diameter drilling.
Commenting on the results Dr. Robert Young, Chairman of Beowulf states "We are very pleased to have outlined such a large gold bearing structure and we are confidently expecting to see an upgrading of the gold values with the reverse circulation drilling later in 2005."
For further information contact :-
For further information please contact;
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Gary Middleton
Matt Scuffam
St Swithin’s Public Relations
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+44 (0) 1353 649 701
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+44 (0) 207 429 4391
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Gavin Burnell
Ruegg & Co. Limited
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Nick Bealer
Phillip Securities (UK) Ltd
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+44-(0)207 584 3663
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+44-(0)207 553 8281
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