Ruoutevare Iron Ore Deposit
Metallurgical
Update
Highlights:
- Final high grade product containing 97%
iron and less than 0.5% titanium
- Study confirms full extract of iron,
titanium and vanadium is possible
Beowulf (AIM:
BEM; Aktietorget: BEO), the AIM and Aktietorget traded mineral exploration company which owns
several exploration projects in Sweden, is pleased to announce details of
metallurgical tests on material from its 100%-owned Ruoutevare
iron deposit in Northern Sweden. These have confirmed that by using reduction
techniques in a laboratory scale simulation of a mechanical oven it is possible
to fully extract the iron, titanium and vanadium from the Ruoutevare
titanium-magnetite ore.
The study was
carried out by the MINPRO research laboratory at Strassa, Central Sweden.
The
final product of high grade sponge iron powder contained 97% iron (Fe) and less
than 0.5% titanium (TiO2), and 0.02% vanadium (V). These grades compare very
favourably when compared with the grades of the initial mill concentrate
produced from the Ruoutevare titanium-magnetite ore
for the study carried out in the 1970s by the Swedish Geological Society
showing Fe 53%, TiO2 12.3% and V 0.25%.
The initial tests
show that subjecting the concentrate to sub-melting temperatures will reduce
all of the iron which is not bonded to ilmenite, and
by a subsequent magnetic separation technique, yield a sponge iron powder with
high iron content and high metallisation level. By using petroleum coke as a
reducing agent and adding soda, high metallisation levels have been achieved at
7750 C.
Further reduction
tests show that, by adding a chloride (Na-, Cl-, and
Fe- chloride respectively have been tested) a so-called segregation will be
obtained with high selectivity against both ilmenite
and vanadium. These tests produced very clean sponge iron powder with a grade
of 95-97% Fe, 0.5% TiO2 and less than 0.02% V, with a metallisation level
of 98% and the exchange of iron above 80%. The amount of iron sponge powder
obtained is about 45% of the initial concentrate by weight. However, after
extraction of Ti and V, the remaining iron can be recycled to the reduction
process so that an even higher exchange of iron is obtained.
More than 97% of
the Ti and V-content of the concentrate occurs together with ilmenite-bonded iron and surplus coke in the non-magnetic
product. After recovering the coke, this product is a very suitable source
from which to obtain clean TiO2 from ilmenite by
using the chlorination process traditionally used by titanium producers.
In addition, the
vanadium can be leached from this product by HCl
leaching through established processes. The end product will be
V2O5 (vanadium pentoxide).
By using mainly
closed systems, the exchanges for all products will be very high whilst
atmospheric emissions and environmental impact will be minimized. For example,
a large part of the energy consumed in vaporizing the FeCl-solution
can be obtained by burning the process gas from the mechanical oven.
Further
laboratory studies on larger samples are needed to validate and further
optimise this process. Results will provide the basis for a preliminary
economic evaluation study of the project after which pilot plant studies can be
planned.
Detailed
metallurgical testing to obtain a marketable concentrate of the Ruoutevare deposit was initially carried out in the 1970s
by the Swedish government-owned iron ore mining company LKAB with subsequent
work by the Finnish steel company Rautaruukki. The
present metallurgical work planned at MINPRO is a continuing study to improve
these results and to obtain highly commercial end products.
Clive Sinclair-Poulton, Chairman of Beowulf commented:
'These metallurgical results
confirm the potential of the Ruoutevare project - we
have over 140m tonnes at 39% Fe inferred and we expect the new studies to show
further positive results in due course that will demonstrate the
commercial aspects of the project.'
Dr Jan Ola
Larsson (Fil. Kand, PhD,
DIC), has reviewed and approved the technical information contained within this
announcement in his capacity as a qualified person, as required under the AIM
rules. Dr Larsson is Technical Director of the Company and has over 30 years
relevant experience within the natural resources sector.
28 April 2009
Enquiries:
Beowulf Mining Plc
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Mr Clive
Sinclair-Poulton, Chairman
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+353 85 739 2674
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Alexander David Securities Limited
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David Scott / Nick Bealer
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+44 (0) 207 448 9820
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Strand Partners Limited
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Matthew Chandler
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+44 (0) 207 409 3494
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Lothbury Financial Ltd
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Gary Middleton / Ron Marshman
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+ 44 (0) 207 011 9411
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or visit
http://www.beowulfmining.com
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Notes to editors:
The Ruoutevare Magnetite Project is 100%-owned by Beowulf, and
covers 850 hectares
1,100km north of Stockholm in
the Norrbotten County, and about 10km north-west of the minor village of Kvikkjokk. The
2.3 billion tonne Kiruna iron ore mine, the world's
second largest underground mine, is located approximately 180km northeast and
the Malmberget iron ore mine is located 120km to the
east.
There appears to
be good potential to substantially increase the Ruoutevare
resource by drilling extensions to the existing resource and by testing other
magnetite bearing zones in the vicinity of the deposit.
In August 2008
Beowulf announced an Inferred Mineral Resource on Ruoutevare
showing 140 million tonnes (Mt) grading 39.1% iron (Fe), 5.7% titanium (Ti) and
0.2% vanadium (V) (cut-off grade of 30% Fe).
In addition to
the 140 million tonnes JORC compliant Inferred Resource at Ruoutevare
the Company also owns the nearby Kallak Magnetite
Project, which has target iron mineralization of 88 - 92 million tonnes at 35 -
42% Fe.