Beowulf said an additional 100m strike extension had been added to the zone, with grades averaging more than 5% total graphitic carbon (TGC).

Highlighted intersections from five holes totalling 838.2m were 102.04m at 5.07% TGC, including 46.68m at 6.09% TGC; 94.69m at 5.76% TGC, including 11.43m at 7.13% TGC; 96.83m at 5.0% TGC, including 22.65m at 6% TGC; and 91.13m at 5.03% TGC, including 42.69m at 6.16% TGC.

The company plans to use the results from the 2019 drilling programme to upgrade Aitolampi's maiden mineral resource estimate published in August and will then initiate the scoping study, which it postponed last year to allow for the collection of more baseline environmental data.

It will also sample and use the drill core for ongoing baseline environmental studies, graphite purification and spheroidisation test work.

CEO Kurt Budge said the exploration team would soon be back in the field for the summer work programme, including bedrock mapping, outcrop sampling and ground geophysics, on four recently granted claim reservation areas.

"Also, we have work programmes under the Green Minerals and BATCircle projects, using the funding we have received from Business Finland, as we seek to develop know-how in processing and manufacturing of value-added graphite products.

Beowulf's shares (AIM:BEM) were down 2.69% Monday to 6.32p (US7.99c), although this was up from 5.15p at the start of the year.