お知らせ • Aug 22
Beowulf Mining plc Announces the First Exploration Results from the Majdan Peak Prospect, Within the Mitrovica Licence, in Kosovo and the Discovery of A Large Polymetallic Epithermal System
Beowulf Mining plc announced the first exploration results from the Majdan Peak prospect, within the Mitrovica licence, in Kosovo and the discovery of a large polymetallic epithermal system. Polymetallic epithermal deposits (copper, gold and lead-zinc) form at shallow depths within the earth's crust and are important sources of base and precious metals and therefore constitute highly desirable exploration targets. Since Beowulf's first investment in Vardar in November 2018, the Company has now committed approximately £3.1 million and owns 59.5% of Vardar. Vardar gives Beowulf exposure to the highly prospective exploration potential of the Tethyan Belt, a major orogenic metallogenic province for gold and base metals. Throughout the last four years, the Vardar team has delivered exciting results for both the Mitrovica licence which has several exploration targets, including lead, zinc, copper and gold, and also the Viti licence which is showing potential for copper-gold porphyry mineralisation and lithium. With Beowulf's support, Vardar is focused on making a discovery and these latest results for Majdan Peak are another step forwards to achieving that goal. Theworld-class Stan-Terg deposit is a neighbour to Vardar's Mitrovica licence (63 million tonnes at 3.5% lead, 2.3% zinc and 80 grammes per tonne ("g/t") silver -based on past production and estimated remaining reserves at the same grade). Looking to the future, Beowulf has several options as it continues to develop Vardar, which include further investments by Beowulf, or in the event of a discovery the introduction of third-party investors or, if the right exploration package is created and supports a standalone business, then the possibility of spinning-out Vardar. Beowulf is keeping these options under review. The MP prospect is located in the central portion of the Mitrovica licence area, defined by a zone of intense argillic alteration capped by an extensive blanket of advanced argillic alteration which forms the ridge tops. Exceptional gold and base metal soil and rock sampling results are associated with the 1,400 metres by 700 metres MP prospect. A full 3D Induced Polarisation and Resistivity (IP/DC) survey delineated prominent high-chargeability anomalies within the prospect, which provided the first set of drill targets for the 2022 programme. A total of 11 diamond core holes, totalling 2,497 metres, were drilled into MP between April and July of 2022. All drillholes intersected intense argillic alteration with zones of advanced argillic alteration. Abundant pyrite (often in excess of 10% by volume), typical of large-scale epithermal systems, provides the causative source for the prominent IP anomalies. All drill core was cut along the orientation line before selecting half-core samples for analysis. Samples were prepared and analysed at ALS Laboratories along with appropriate reference material and duplicates using multi-element ICP-MS, gold fire assay and SWIR spectrometry. Drillholes were targeted using a combination of IP anomalies, soil sampling and outcrop mapping to test a variety of possible target types and to assist with navigation through the larger hydrothermal system. Based on drill results, alteration and intersected base and precious metal concentrations appear to follow steeply dipping structures which splay out along more porous, mainly volcaniclastic host rocks forming a layer cake of intense and advanced argillic alteration zones. Mineralisation is likely to relate to multiple episodes of hydrothermal activity with distinct assemblages of gold, gold-silver-copper-antimony, lead-zinc-silver and zinc. This finding, together with clay mineralogy and alteration mapping, provides a vector to higher-temperature portions of the system. According to classic epithermal models, the gold-silver-copper-antimony mineralisation is likely to occur within, and in proximity to, hydrothermal breccias related to feeder structures. The latter are the main targets for follow-up drilling. Given the size and complexity of the system, it is expected that several polymetallic targets will be identified rather than a simple gold target as initially envisaged. Drill results have already defined the first significant polymetallic target (MP-T1) which was intersected in drillholes MP006 and MP009. The target follows a distinct WNW trend evidenced in geophysical and soil sampling datasets. Mineralisation in this target includes several distinct phases, such as a gold-copper-silver-antimony and a lead-zinc-silver phase. In both intersections, mineralisation is largely stratabound, likely reflecting the dispersion of metal-rich fluids from a proximal feeder structure into the surrounding intensely altered host rock. The mineralisation intersected in MP006 is typical of what can be expected on the margins of a high-grade feeder zone which is further supported by resistivity data. Note the limited spatial extent of the copper-gold-antimony mineralisation providing support for the proximal (with respect to the feeder zone) location of the intersection in drillhole MP006. In addition to gold-copper-silver anomalies, drilling has intersected numerous shallow zones of gold mineralisation associated with advanced argillic alteration. These zones may represent leakage into the upper portion of the mineralising system on the periphery of proximal higher-grade feeder structures, the existence of which is interpolated from anomalous grades in rock grab samples assays (with values of up to 14 g/t Au). Using SWIR results, the advanced argillic zones with gold intersections typically have a kaolinite-dickite-alunite signature, indicative of being proximal to the target vuggy-quartz facies rather than higher in the system. The quartz-alunite facies intersected in MP013 is considered particularly close to vuggy zones where high-grade gold is anticipated. Follow-up drilling will initially focus on intersecting thicker and/or higher-grade extensions to gold-copper-silver mineralisation intersected in drillhole MP006.