Blackheath Resources Inc. is a Vancouver based Canadian company listed on the TSX Venture Exchange with the symbol BHR and is quoted on the Frankfurt Exchange with the symbol 04B. The company is focussed on tungsten exploration and development in Portugal and holds interests in its maiden property, the past producing Covas tungsten mine in northern Portugal - a country with a highly attractive geological setting conducive to the discovery of mineral deposits and with a supportive legislative environment. Other mining operations in the country are the historic Panasqueira tungsten mine (previously operated and sold by Blackheath management) and the Neves Corvo copper zinc and Aljustrel zinc mines in the south of the country. Blackheath has excellent connections in Portugal and will also seek additions to its mineral portfolio to grow to a premier base metal developer - the company has also acquired the rights to a 100% interest in the past-producing Borralha tungsten mine, the past-producing Bejanca tungsten/tin mine and the past-producing Vale das Gatas tungsten mine in northern Portugal.
Management's previous involvement in Primary Metals grew shareholder value significantly from its IPO at 15 cents in 2003 to an all-cash buyout in less than 5 years at $3.65/share. Blackheath's management are seeking to repeat similar objectives: Tungsten development in Portugal and to return shareholder value through successful exploration, acquisition of additional attractive projects as well as M&A activity.
At the past-producing Covas project, the Company has completed a mineral resource estimate, compliant with NI 43-101 (see Projects, Covas Project) with an indicated near-surface resource of 686,000 tonnes of 0.55% WO3 (tungsten trioxide) and an inferred near-surface resource of 1,281,000 tonnes of 0.46% WO3 and mineralization is open to expansion. These grades are approximately 2 to 3 times richer than the underground Panasqueira tungsten mine that Primary Metals sold for $3.65 a share to Sojtiz Inc. in 2007.
Further information on the company's Covas permit and exploration results and on Borralha, Bejanca and Vale das Gatas are available under Projects