Beowulf Mining (AIM:BEM), the AIM-listed iron ore developer, has initiated an infill drilling campaign at its Kallak project in northern Sweden through subsidiary Jokkmokk Iron Mines.
The initial programme comprises seven holes totalling 1,000 metres, targeting the northern part of the Kallak North deposit, with an extension to roughly 1,500 metres agreed subject to the financing announced on 7 July closing.
The campaign aims to convert near-surface Inferred resource into the higher-confidence Measured and Indicated categories, feeding into a future update of the Mineral Resource Estimate and the planned Pre-Feasibility Study.
More than 80% of the Kallak North resource already sits in Measured and Indicated categories following 145 historical holes and over 30,000 metres of drilling, with the 2021 estimate from Baker Geological Services classifying the shallower northern section as Inferred due to lower drilling density.
That material is expected to be mined in the early years of production, giving it outsized influence on the project's economics, according to chief executive Ed Bowie.
The first hole, KAL26008, was extended beyond its planned 160-metre target to 174 metres after encountering what the company described as strong mineralisation at depth.
Project director Dmytro Siergieiev said initial portable analysis indicates "extensive magnetite mineralisation throughout the hole."
Core samples will be sent for independent laboratory assay once logging is complete, with results to feed into the forthcoming Mineral Resource Estimate update.
