The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (“MAR”) (EU) No. 596/2014, as incorporated into UK law by the European Union (Withdrawal) Act 2018. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

 

16 December 2022

Beowulf Mining plc

(“Beowulf” or the “Company“)

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Beowulf Mining – Highly Prospective Vardar Lead-Zinc-Silver Trend – New Licences

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Beowulf (AIM: BEM; Spotlight: BEO), the mineral exploration and development company, is pleased to provide an update regarding two licences added to the Vardar Minerals Ltd (“Vardar”) exploration portfolio, both located along the highly prospective Vardar lead-zinc-silver trend in northern Kosovo.   Beowulf’s owns 59.5 per cent. of Vardar.

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Highlights:

·    Licences situated in the prospective Vardar lead-zinc-silver belt in northern Kosovo along trend from historical mining districts;

·   Covering 115 square kilometres (“km²“), the new licences extend the coverage of Vardar’s Mitrovica and Shala exploration projects, both of which display abundant evidence of active epithermal systems with associated lead-zinc-silver and gold-silver-copper mineralisation;

·    New licences include prospective carbonate host rocks along with Oligocene magmatic rocks which provide the heat and metal source in the surrounding lead-zinc ore districts; and

·   Alteration and gossan outcrops have been noted in early reconnaissance visits further demonstrating the potential for lead-zinc-silver mineralisation in both of the licences.

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Kurt Budge, Chief Executive Officer of Beowulf, commented:

“Since the end of Summer, we have had a number of positive announcements regarding the successes being achieved by the Vardar team in Kosovo. Most recently, the announcement of the Red Lead Target, displaying all the key geological markers of the neighbouring Stan Terg deposit and mine, and now a priority target for drilling in Spring 2023.

“The district being explored in northern Kosovo is highly prospective, with abundant evidence of widespread lead-zinc-silver mineralisation, and the addition of these new licences to Vardar’s portfolio is a further exciting development. The Vardar team continues to use state-of-the-art exploration methodologies in the process of identifying new opportunities and is maintaining a competitive first-mover advantage in the region.

“Vardar’s expanded licence position has established a dominant land holding in the highly prospective areas surrounding the Stan Terg lead-zinc-silver mine.”

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To read the full news release, please click HERE

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