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(Sharecast News) - Mineral exploration and development company Beowulf announced results from additional induced polarisation and resistivity surveys undertaken by Vardar Minerals on Tuesday, over the Wolf Mountain lead-zinc prospect, which forms part of the Mitrovica Project in northern Kosovo.
The AIM-traded firm said an "exceptional" high chargeability anomaly was identified to the east of the main Wolf Mountain prospect, correlating with anomalous soil samples of up to 1% zinc and 0.5% lead, and rock samples from gossans including 3.% zinc, 1.8% lead, and 93 grams of silver per tonne.
It said the chargeable source followed a "prominent" northwest trending structure, which connected to the Zijaca deposit located two kilometres to the south east, adding that it remained open-ended to the north west.
The results to date suggested that the Wolf Mountain prospect consisted of several structurally-controlled targets, the board explained, adding that they were often occurring along geological contacts in the basement rocks, and covering a larger area than previously considered.
As at 27 November, induced polarisation and resistivity surveys completed at the east and south blocks, further surveys to infill between the main prospect, and data was being analysed to generate a contiguous picture for Wolf Mountain.
"In addition to the central Wolf Mountain target, Vardar has now delineated an exceptional chargeability anomaly and further targets for drilling to the east," said chief executive officer Kurt Budge.
"At the end of last week, Vardar completed infill surveys between the main target, east and south blocks, generating more data which are being analysed to generate a contiguous picture for Wolf Mountain.
"With each new set of results from Kosovo, the drill programme for 2021 is being refined, [and][ plans will be finalised after the capital raising is complete."
At 1100 GMT, shares in Beowulf Mining were up 9.09% at 6p.
2 Jun 2016 09:41