Blackheath Announces Award of Mining Licence for Covas Tungsten Project

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 20, 2013) - Blackheath Resources Inc. (TSX VENTURE:BHR)(FRANKFURT:04B) ("Blackheath) is pleased to announce that the Government of Portugal has granted an Experimental Mining Licence ("Licence") for the Covas Tungsten Project in northern Portugal. The Licence is valid for a period of three years, which may be extended by a further two years, and is held by Blackheath under an option from Avrupa Minerals Ltd. Under the terms of the Licence, which replaces the previous exploration licence, Blackheath may carry out test mining programmes as well as further drilling and metallurgical work at Covas.

The Licence covers an area of approximately 1,948 hectares and has been granted for the exploitation of mineral deposits of tungsten, tin and gold. Granting of the Licence follows the established practice under Portuguese mining law and may be followed, if warranted, by the grant of a full licence for full-scale commercial exploitation of mineral deposits on the property.

"We are delighted that the Experimental Mining Licence has been granted at Covas and we will now be able to proceed with the next phase of our work programme," said James Robertson, P. Eng., President and CEO of Blackheath. "We plan to complete trenching and other surface work in preparation for starting our next round of diamond drilling at Covas, as well as at our contiguous tungsten permit at Arga, in September."

Covas is a past-producing tungsten mine and remaining historic resources on the property have been estimated at 922,900 tonnes of 0.78% WO(3) (tungsten trioxide) by Union Carbide in 1980, based on work including 329 drill holes on the property. Mineralization is open to expansion. The price of tungsten has increased significantly in recent years and is currently approximately $42 per kilogram of contained tungsten trioxide. (These resources are historic in nature, prepared by Union Carbide Corp. in 1980 and are considered relevant. However, a qualified person has not done sufficient work to classify the historical estimates as current mineral resources and the Company is not considering the historical estimates as current mineral resources.)

Highlights from the Phase 1 program completed by the Company early in 2013 included high grade tungsten mineralization of 2.11% WO(3) over 7.98 metres starting at a depth of 44.57 metres in Hole CO 7/12 at the Telheira target and 2.89% WO(3) over 5.10 metres in Hole CO 13/12 starting at a depth of 52.70 metres at the Lapa Grande target at Covas, as previously reported. Other results from the program confirmed extensions of tungsten mineralization in the skarn zones at Covas. (See news releases dated November 26, 2012 and March 1, 2013 for details)

The Covas property is located about 100 kilometres north of Porto, Portugal's second largest city. Blackheath holds the property under an option from Avrupa Minerals Ltd. to earn up to an 85% interest in a joint venture in the project, after incurring minimum exploration expenditures of EUR1 million in two stages to earn a 70% interest followed by completion of a prefeasibility study to earn the additional 15% interest. Blackheath also holds options for a 100% interest in the past-producing Borralha tungsten mine and the Bejanca tungsten-tin mine where exploration is also underway.

Tungsten Manufacturer & Supplier: Chinatungsten Online - http://www.chinatungsten.com
Tel.: 86 592 5129696; Fax: 86 592 5129797
Email: sales@chinatungsten.com
Tungsten & Molybdenum Information Bank: http://i.chinatungsten.com
Tungsten News & Tungsten Prices, 3G Version: http://3g.chinatungsten.com
Molybdenum News & Molybdenum Price: http://news.molybdenum.com.cn

• < Prev
• Next >