Beowulf shares up on Kosovo survey results

(Sharecast News) - Mineral exploration and development company Beowulf announced results from the induced polarisation and resistivity surveys undertaken by Vardar Minerals over the Metal Creek prospect on Thursday, which forms part of the Viti Project in south east Kosovo.
The AIM-traded firm said a "detailed" 3D survey had delineated high chargeability anomalies associated with an extensive north-north west trending zone of alteration and anomalous multi-element soil sample and rock grab sample results.

It said the newly-defined high chargeability anomalies sat in close proximity to gold and copper mineralisation, associated with altered porphyritic trachyte dykes, intersected by stratigraphic drilling in 2019.

The anomalies could represent higher grade mineralised zones, Beowulf said, with Vardar now planning to drill two short holes to test chargeability "hot spots".

"From a 'state of the art' geophysics programme, the Vardar team is producing an exceptionally high quality dataset for analysis and interpretation," said chief executive officer Kurt Budge.

"We have clearly defined targets from the geophysics programme at Metal Creek, which, when considered together with previous work, geological mapping, soil and grab sampling, presents a very attractive picture.

"Vardar now has plans to drill two short holes to intercept the anomalies."

Budge said the timing for the work had yet to be decided.

"Pushing ahead with our investment in Vardar in August, we only hoped for the promising results that we have seen for Wolf Mountain and Majdan Peak at Mitrovica and that we are now seeing for Metal Creek at Viti.

"We are working with the Vardar team on a plan for drilling the substantial number of targets that have been generated so far across both projects, prioritising the most attractive opportunities for a discovery."

At 1022 GMT, shares in Beowulf Mining were up 7.14% at 4.5p.