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Beowulf reports mineral resource estimate update for the Kallak iron ore project
StockMarketWire.com
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Mineral exploration and development Beowulf reported a 12.5% increase in its mineral resource estimate for the Kallak iron ore project in northern Sweden.
The upgraded resource estimate demonstrated 'the potential for a mine to supply iron ore over several decades for fossil-free steel production in Sweden,' the company said.
The previous Geovista 2014 mineral resource estimate, or MRE, reported an indicated mineral resource of 118 Mt at 27.5% iron and an inferred m resource of 33.8 Mt at 26.2% iron.
This compared to the BGS 2021 MRE, a combined measured and indicated mineral resource of 132 Mt at 27.8% Fe and an inferred mineral resource of 39 Mt at 27.1% Fe.
'This equates to an increase of 19 Mt in the upgrade reported herein for approximately the same Fe grade,' the company said.
The update to the MRE was prepared by Baker Geological Services.
At 10:01am: (LON:BEM) Beowulf Mining PLC share price was 0p at 5.5p
Story provided by StockMarketWire.com
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