|July 18, 2012|
Blackheath Announces Start of Exploration Program
|Blackheath Resources Inc. (TSXV: BHR) is pleased to announce the start of its 2012 exploration program on the Covas Tungsten concession in northern Portugal. The program will include compilation of existing data and surface work including mapping and sampling, to be followed by trenching and a diamond drilling program as recommended by Barry Price, M.Sc., P.Geo. in a NI 43-101 Technical Report updated on May 8, 2012.|
Covas is a past producer of tungsten and historic resources (indicated and inferred) on the property have been estimated at 922,900 tonnes of 0.78% WO3 (tungsten trioxide) and mineralization is open to expansion. The price of tungsten has doubled over the past two years and is currently approximately $40 per kilogram of contained tungsten trioxide. (These resources are historic in nature and have not been verified by the Company or its consultants but are believed to be relevant although not compliant with current NI43-101 standards.)
The property is located about 100 kilometres north of Porto, Portugal's second largest city. Historic records show that past production from the mine between 1951 and 1974 totalled 366,000 tonnes at 0.61% WO3. Ore was mined from an open pit and shallow underground workings and processed using gravity and flotation methods, producing separate wolframite and scheelite mineral concentrates. Subsequent exploration by Union Carbide and others, from 1974 to 1980 when the price of tungsten plummeted, included 327 diamond drill holes, testing part of the property and resulting in the determination of the historic resource estimates in the so-called "Skarn Ring". Little work has been undertaken since that time and extensions of these zones will be tested in the current program.
Recent work in the central Covas Dome area, within the Skarn Ring, has confirmed geophysical magnetic anomalies and also surface geochemical anomalies for tungsten, which were not previously known. Also, recently-identified surface soil anomalies for gold, together with very limited rock sampling to date, have indicated the potential for a related gold system. These are new targets for exploration and will also be tested in the current program.
Blackheath holds 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 €1 million in two stages to earn a 70% interest followed by completion of a prefeasibility study to earn the additional 15% interest.
Blackheath Resources Inc. is a recently listed company on the TSX Venture Exchange, focused on tungsten exploration in Portugal. The management of the company has previous experience in tungsten mining operations in Portugal through Primary Metals Inc., the operator of the Panasqueira Tungsten Mine from 2003 to 2007. Further information about the company's activities may be found under the company's profile at www.sedar.com
Avrupa Minerals Ltd. Is a growth-oriented junior exploration and development company, focused on aggressive exploration, using a project generator model, for valuable mineral deposits in politically stable and prospective regions of Europe, including Portugal, Kosovo and Germany.
On behalf of the Board,
James Robertson, P.Eng., CEO, President & Director
For further information contact James Robertson at firstname.lastname@example.org
This news release was prepared by Company management, who take full responsibility for its content. James Robertson, P.Eng. is a Qualified Person as defined by National Instrument 43-101 of the Canadian Securities Administrators. He has reviewed the technical disclosure in this release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain statements made and information contained in this news release and elsewhere constitute "forward-looking information" within the meaning of Canadian securities legislation. Forward-looking statements are based on certain assumptions and are subject to risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation, risks and uncertainties relating to the interpretation of drill results and the estimation of mineral resources, the geology, grade and continuity of mineral deposits, the possibility that future exploration or development results will not be consistent with the Company's expectations, accidents, equipment breakdowns, risk of undiscovered title defects and surface access, labour disputes, the potential for delays in exploration activities, the potential for unexpected costs and expenses, commodity price fluctuations, currency fluctuations, and other risks and uncertainties, including those described under Risk Factors in each management discussion and analysis available under the Company's profile at www.sedar.com. In addition, forward-looking information is based on various assumptions including, without limitation, the expectations and beliefs of management, the assumed long term price of tungsten, that the Company will receive required permits and access to surface rights, that the Company can access financing, appropriate equipment and sufficient labour and that the political environment within Portugal will continue to support the development of environmentally safe mining projects. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements. The Company does not update forward-looking information, except as required by applicable laws.
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