Beowulf Mining PLC - natural resource developer and explorer focused on the Nordic region - Invests GBP1.0 million in Vardar Minerals Ltd to fund drilling in Kosovo.
Drilling rig has arrived at the Mitrovica licence, with drilling on-track to start on Wolf Mountain zinc-lead-silver target, before attention turns to the Majdan Peak gold prospect. Drill programme is planned to be 3,400 metres.
"I am delighted that that Vardar has finally secured both licence renewals and been awarded the promising Shala licence; even more so that we are ready to start drilling a host of exciting targets across the Mitrovica licence. With this volume and extent of mineralisation across Wolf Mountain and Majdan Peak, we are optimistic that the IP anomalies represent high-grade portions of the mineralised systems we believe are present," says Chief Executive Officer Kurt Budge.
Current stock price: 9.00 pence, up 9.1%
12-month change: up 100%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Beowulf (BEM)