China tungsten concentrate prices move up gradually this week, and the suppliers are inactive in selling materials now. However, the demand from the terminal products does not recover completely, and many tungsten market participants hold wait and see attitudes towards the future tungsten concentrate market.

Tungsten concentrate market moved up in the recent two weeks. The offers for wolframite 55% are at RMB121,000-122,000/t (USD298-300/mtu) this week, and some offers are higher in the spot market. However, with the increasing prices, some suppliers are cautious in making deals.

As some companies purchased materials from late last month, the tungsten concentrate prices increased gradually. Moreover, some tungsten concentrate factories mainly deal with the long-term orders, and have few spot stocks in hand. Looking ahead, he expressed that the tungsten market will go up further in a short time.

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Avrupa Minerals makes a report on Covas Tungsten Project, NW Portugal .

Highlights of the recent drilling program included previously-reported intercepts of high grade tungsten mineralization, particularly 2.11% tungsten trioxide over 7.98 meters starting at a depth of 44.57 meters in Hole CO 7/12 at the Telheira target and 1.56%  tungsten trioxide over 11.40 meters starting at a depth of 52.70 meters in Hole CO 13/12 at the Lapa Grande target. Other results from the drilling confirmed extensions of tungsten mineralization in the skarn zones at Covas (see news releases dated November 26, 2012 and March 1, 2013 for further details). Only results from the final two holes at the Lapa Grande target have not been previously reported.

Hole CO 20/13 tested an area to the east of the known mineralized zone and returned weak tungsten grades, but with anomalous gold and silver mineralization averaging 0.31 g/t Au and 4.4 g/t Ag over 5 meters, starting at a depth of 53.70 meters. The anomalous precious metal mineralization may be part of an intrusion-related gold target associated with a NW-trending fault zone passing close to the Lapa Grande prospect. Hole CO 21/13 tested an extension to the west of the known Lapa Grande mineralization and intercepted 4.02 meters of skarn rocks starting at 62.63 meters and averaging 0.142%  tungsten trioxide (see news release dated March 1, 2013 for drill hole locations). The drill holes are all vertical, and intercepts are considered to represent close to true thickness of the mostly flat-lying mineralized zones.

Paul W. Kuhn, President and CEO of Avrupa Minerals commented, "The work, to date, indicates positive potential for the Covas prospect. We will continue our targeting work this spring, with the objective of increasing the size of the known skarn-related tungsten deposits, and with developing a larger tungsten-gold target in the Covas Dome area. We expect to advance the next exploration phase with a drilling program designed to fulfill both objectives during 2013."

European traders handling tungsten concentrate 50%min tungsten trioxide that offering prices have held firm between USD255-265mtu CIF China this week.

The strong pricing trend is a result of stable demand from Chinese buyers who saw guideline prices of domestically produced tungsten concentrate increase marginally in April.

One European based trader of tungsten products revealed  that his sales volume of Rwandan and Burundi origin tungsten concentrate 55%min tungsten trioxide has held at a consistent level for the past two months despite China.

Avrupa Minerals Ltd.  is pleased to report on further progress at the Covas Tungsten Joint Venture exploration program in NW Portugal. The tungsten project is operated by Avrupa, and funded by Blackheath Resources Inc. ("Blackheath"), under a previously-announced earn-in agreement (see AVU news release, dated May 18, 2011).

Phase 1 of the exploration program at Covas is now complete, with all outstanding results in hand. The program successfully confirmed and tested known skarn-related mineral occurrences and extensions, as well as new targets. Work in Phase 1 included re-interpretation of historic magnetic data, completion of a gravity survey in the Covas Dome area, as well as geological mapping, rock sampling, and a total of 1,606 meters of core drilling in 15 completed drill holes in five separate target areas. Review of all data and results is underway in preparation for the next phase of work, which will commence later this April and will include further core drilling later this year.