Beowulf Mining said it has received encouraging assay results for a further ten drill holes at Kallak South and an initial four drill holes at Kallak North in northern Sweden.
The company noted that metallurgical studies are progressing well, in respect of the first stage of pilot scale test work on material from the test mining sampling programme completed at Kallak North in autumn 2013.
The Kallak project is located within the municipality of Jokkmokk in the Norrbotten County and is wholly-owned by Beowulf's operating subsidiary, Jokkmokk Iron Mines (JIMAB).
JIMAB is undertaking a significant drilling campaign on the Kallak South deposit, which is principally targeting a maiden JORC Code compliant resource estimate for this deposit, as well as seeking to confirm whether the Kallak South and Kallak North deposits are geologically connected.
Kallak South's phase one of drilling was completed in 2013 and comprised of a total of 4,124m over 16 holes and focused on the northernmost and central parts of the deposit.
The company revealed the assay results for the first six holes in August 2013 and results for the remaining ten holes have now been received, with further encouraging average iron grades encountered over long intercepts.
Kallak North's initial phase of drilling was completed in August 2013 and included a total of 1,546m over nine holes.
Phase two started in late 2013 following the completion of preparatory work and, to date, an additional 615m of drilling has been completed.
The company said that assay results have been received for four drill holes completed during the initial phase, with promising average iron grades encountered over long intercepts.
Beowulf Mining executive chairman Clive Sinclair-Poulton said the remaining assay results received from the company's 2013 drill programme at Kallak South are encouraging, with significant average grades of iron mineralisation recorded for a number of analysed drill core sections.
"A new work plan for Kallak South has now been secured, covering the period to 31 December 2015, and we look forward to progressing our 2014 drill campaign at the earliest opportunity," Sinclair-Poulton said.
"The initial assay results from our 2013 drill programme at Kallak North are most promising, with nine of the sections analysed to date recording average iron content in excess of 40%."