Aim-listed Beowulf has announced an upgraded mineral resource estimate for its Aitolampi graphite project, in Finland, including an 81% increase in contained graphite for the higher-grade western zone.
The company reported an indicated and inferred mineral resource of 17.2-million tonnes at 5.2% total graphitic carbon (TGC), containing 887 000 t of contained graphite for the western zone.
The eastern lens remained unchanged at 9.5-million tonnes at 4.1% TGC for 388 000 t of contained graphite.
The overall Aitolampi resource was updated to 26.7-million tonnes at 4.8% TGC for 1.28-million tonnes of contained graphite, at a 3% cut-off grade.
"The team has had a busy year, following-up drilling at Aitolampi with fieldwork across four other graphite prospects in the Fennoscandian portfolio, while effectively using funding from the 'Green Minerals' and 'BATCircle' projects to support metallurgical testwork and value-add processing for battery-grade anode material,” said Beowulf CEO Kurt Budge.
Fennoscandian Resources, the company's graphite business in Finland, is pursuing a strategy to develop a "resource footprint" of natural flake graphite prospects that can provide "security of supply" and enable Finland to achieve its ambition of self-sufficiency in battery manufacturing.
Fennoscandian is also developing its knowledge in processing and manufacturing value-added graphite products, as the company seeks to move downstream.