Beowulf marks maiden resource milestone at Aitolampi

The Aitolampi project, in eastern Finland, has an indicated and inferred mineral resource of 19.3-million tonnes at 4.5% total graphitic carbon (TGC) for 878 000 t of contained graphite, reported from all material within the eastern and western lenses, which are interpreted above a nominal 3% TGC cutoff grade.

The project contains a higher-grade western zone with an indicated and inferred mineral resource of 9.8-million tonnes at 5% TGC for 490 000 t of contained graphite. An eastern zone has an indicated and inferred mineral resource of 9.5-million tonnes at 4.1% TGC for 388 000 t of contained graphite.

Reporting above a 4% TGC cutoff grade, based on the grade-tonnage curve for Aitolampi, gives an indicated and inferred mineral resource of 12.8-million tonnes at 5% TGC for 639 000 t.Tonnes are not in short supply at Aitolampi, as evidenced by the maiden 19.3-million-tonne resource, but it`s pleasing to see a higher-grade 5% TGC western zone, that could be the focus for initial production,” commented CEO Kurt Budge in a statement.

Aitolampi is benefited by its location in Finland, a stable political, fiscal, legal and permitting jurisdiction, its access to cheap power, reliable transport infrastructure (roads and ports), a highly skilled workforce, and by Finland`s desire to become a world-class platform for battery manufacturing.

In terms of next steps, Beowulf is in the process of tendering a scoping study, which will provide a preliminary technical and economic assessment of the project.

Aitolampi is about 13 km from the town of Heinävesi,and 40 km southwest of the well-established mining town of Outokumpu.