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."

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.

Traders in the European ferro-tungsten market have reported a slower start to activities this week compared with the frantic movements seen in the early days of April. Sources have speculated over ferro-tungsten prices climbing above USD43.00kg W in warehouse Rotterdam last week, however, on Monday, inter-trade prices appeared marginally softer between USD41.50-42.00kg W in warehouse Rotterdam.

A large Central European trader of ferro-tungsten revealed that the wave of consumer enquiries that forced numbers of the noble alloy to increase almost USD4.00kg W in around two weeks at the end of March, 

From late March, the tungsten concentrate prices moved up gradually because some companies purchased materials in relatively large quantities, and the tungsten concentrate market showed the uptrend. Many tungsten concentrate suppliers hold offers firm and even increase slightly, but the trading volume does not improve obviously with the soft demand.

There is China Tungsten & Cemented Carbide conference to be held in Chengdu, China in two days from May 26 to 28 in 2013.

Conference Background:

In recent years, the falling prices of annual tungsten products and the drop in product sales have exerted greatly ill impact on the profitability and the development of scale for the entire tungsten industry. To make matters worse, most tungsten processing enterprises and tungsten trade enterprises can’t make practical measures to avoid risks as a result of less emphasis and insufficient research on price fluctuations. In addition, the high prices of tungsten mine have taken up more and more funds from enterprise funds. It not only lowers the using efficiency of enterprise funds, but also increases the risks of enterprise management to severely impact the earning ability and do harm to the healthy development of tungsten enterprises and industries. Therefore, it is very necessary to conduct a detail analysis on and follow the tracks of prices of tungsten raw material.

With the shrinking demand for tungsten carbide, steel and other tungsten products, prices of tungsten raw material have been compressed. On one hand, prices of tungsten mine still stay relatively high. On the other hand, the earning ability of APT, tungsten powder, tungsten carbide powder, tungsten bar and other tungsten carbide products went down so that the business environment is deteriorating. Hence enterprises and industries cannot emphasize too much the importance of looking for a relatively both positive and stable way to guide the future development.

In accordance of the above mentioned, Ruidow will invite people from all walks of life to Chengdu on May 26-28 to attend the conference for the purpose of exploring key issues and subsequent development of the current industry.

 Topics of the conference as follows:

1. National policy and the future development prospect of Tungsten
2. The possible models to decide prices of tungsten mine
3. How should tungsten processing enterprises deal with the huge fluctuations of raw material
4. Exploring the management of scale of tungsten enterprises
5. Analysis on the future stable growth points in tungsten carbide market
6. Statues analysis and outlook about domestic tungsten carbide
7. Management of tungsten carbide enterprises under new situation
8. Talking about current chances for Tungsten enterprises from the export market of tungsten
9. The trend of tungsten carbide markets what foreign countries demand for
10. Enjoying experience of selling tungsten carbide products
11. Analysis on the motion of price change

Comment:

Specific topics of the conference are subject to final confirmation

 

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The tungsten mine market transactions have slight improvement and keeps stable tend to inflation in short-term.

The tungsten concentrate guidance prices of Ganzhou Tungsten Association and the China Minmetals Non-ferrous Aprilwere were flat. Tungsten mine prices have slight improvement in market transactions and it will keep stable and tend to inflation in short-term.

The ammonium paratungstate business confidence reply bullish market outlook, the price adjustment will be more strongly; tungsten powder market exercise alone alsoincrease in tungsten carbide generally offer 275 yuan / kg nearby; scrap tungsten steel prices remain strong.

Expected that tungsten prices in mainstream will keep steady in short-term and individual will be higher.

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The tungsten mine prices rose and scrap  tungsten steel turnover a slight improvement in.

Recently,  tungsten mine prices trend up, holding goods mining companies hope up strong emotions, 65 degrees the wolframite market quotations to 120,000 yuan / ton, ammonium paratungstate prices slightly follow individual quote high, tungsten carbide powder market has been boosted as the raw material stronger.

Some manufacturers acceptance ex-factory price of 280 yuan / kg nearby, waste tungsten steel slight improvement in turnover , the latter part of the price increase may be larger. Market outlook, the tungsten prices is expected to maintain a slow upward trend.

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Recently an investment of 640 million yuan, Duchang Jinding Tungsten- Molybdenum Mining Co., Ltd. officially put into operation.

The project the amount of daily ore processing capacity of 4,500 tons, annual production capacity of 2650 tons of tungsten concentrate, molybdenum concentrate 900 tons.

According to the current market estimates, the annual sales income of 400 million yuan, and paid various taxes and fees more than 60 million yuan to solve the employment of nearly 400 people, and promote the development of local industry.

It is understood that the mine has proven the statement of tungsten and molybdenum ore reserves of 3924.4 tons, the amount of metal tungsten 354,900 tons, 15,400 tons of molybdenum, coupled with prospective reserves, mine life of 30 years.

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Large fiber steel crankshafts exported to Europe symbolizes a breakthrough in tungsten carbide cutter manufacture in China and China’s ability of introducing and digesting foreign technology reaching a new level.

The contract of three large fiber steel crankshafts MAN9L27/38 signed by CSR(China South Locomotive and Rolling Stock Corporation Limited) Ziyang Company and ThyssenKrupp(German) come into effect on July 18. This is the first order that China exports large crankshaft to Europe and the first step to European market, which marking a breakthrough in tungsten carbide cutter production in China.

Hazelwood Resources was one step closer to starting ferro-tungsten production at its ATC ferro-tungsten project, in Vietnam, after successfully installing the first fill of ferrot-ungsten metal into the plant’s furnace.
The ferro-tungsten metal would be retained in the furnace during operations to protect the furnace shell from extreme temperatures associated with the production of the alloy.

Hazelwood said this week that hot commissioning and first production was scheduled for the end of this month, and noted that all of the production workforce was currently on site, undergoing training and making preparations for production.

All of the feedstock required for a start-up of production had also been secured, and the final lots were being cleared through customs.

Stage 1 of the ATC plant had a nameplate capacity of 4 000 t/y of ferro-tungsten alloy, equivalent to 3 000 t/y of contained tungsten. A second stage, if completed, would have sufficient capacity to supply around 25% of the world’s ferro-tungsten.

The ATC ferro-tungsten project is the largest-capacity plant outside of China.

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