Wayland Copper Limited is an incorporated joint venture company formed between Energy Ventures and AIM listed company Beowulf Mining plc (AIM:BEM) to explore the Ballek copper-gold-uranium project in northern Sweden.
The Ballek project comprises four exploration permits that collectively cover 110km2 in Arjeplog Commune, northern Sweden. The historical Lulepotten copper-gold deposit, which has an Inferred Resource of 5.4 Mt grading 0.8% copper and 0.3g/t gold, is contained within the project area.
Energy Ventures has earned 50% equity in Wayland Copper, which is to be jointly funded by the Company and Beowulf Mining in order to complete any further agreed exploration work programmes going forward. Beowulf Mining is currently the manager and operator of Wayland Copper.
Wayland Copper is currently evaluating the scope and extent of further exploration programmes to test for repetitions and/or extensions of the Lulepotten-style copper-gold mineralisation.
For more information see the Beowulf Mining website at www.beowulfmining.com.