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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Blackheath Resources Inc | TSXV:BHR | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 0.195 | 0.30 | 0.30 | 0 | 00:00:00 |
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb 18, 2014) - Blackheath Resources Inc. (TSX-VENTURE:BHR)(FRANKFURT:04B) (the "Company") is pleased to report drilling results from the Phase 2 drilling program from the Covas Tungsten Project in northern Portugal. The Phase 2 drilling program greatly expanded the skarn-related mineral zones in every existing target zone, as well as discovering a new mineralized zone.
Fourteen diamond drill holes, totaling 1,183 metres, were drilled in five different target areas: Muito Seco, Lapa Grande, Telheira, Castelo and a new zone Cerdeirinha/Muito Seco. Step out drill holes varied from 50 to 550 metres and averaged over 200 metres in distance from previously known mineralization areas. Results from the first and second phase drilling programs indicate that there is further potential for extension at all five target areas, and new geological interpretations from the recent drilling also indicate potential vectors towards further high grade tungsten zones.
Highlights of the Phase 2 program include 3.05 metres of 1.26% WO3, including 1.05 metres of 2.07% WO3 starting at a depth of 12.75 metres at Muito Seco and 3.25 metres of 0.19% WO3, including 1.25 metres of 0.38% WO3 starting at a depth of 82.55 metres at Telheira. All holes are vertical drill holes, and intercepts are considered to represent the true thickness or close to the true thickness of the mostly flat-lying mineralized zones.
"We are pleased with the results from our Phase 2 drilling program at the Covas Tungsten Project," said James Robertson, President & CEO of Blackheath Resources. "Over 90% of the drill holes intercepted tungsten-bearing skarn, which is very encouraging. This brings us one step closer to our goal of completing a NI 43-101 resource estimate at Covas, and further drilling will be required to determine the extent of the tungsten mineralized skarn zones. The Phase 3 drill program is scheduled for later this year."
HOLE ID | EASTING | NORTHING | HOLE LENGTH (M) | INTERCEPT DEPTH (M) | INTERCEPT % WO3 | SUMMARY EXTENSIONS DISTANCES | ||
CO 22/13 | 525160 | 4635105 | 40.60 | 28.70 | 1.00 m @ 0.04% WO3 | Extended Lapa Grande target over 80 metres to the SE | ||
CO 23/13 | 525515 | 4634892 | 149.50 | 128.40 | 2.20 m @ 0.21% WO3 | |||
CO 24/13 | 525030 | 4634800 | 40.00 | 12.75 | 3.05 m @ 1.26% WO3 | Extended Muito Seco target area over 200 metres to the SE | ||
CO 25/13 | 525180 | 4634670 | 58.60 | N/A | Thick skarn no significant tungsten values | |||
CO 26/13 | 524808 | 4634970 | 89.40 | N/A | No skarn - collared in lower schist | Expanded known tungsten mineralization 550 metres in new discovery target area at Muito Seco / Cerdeirinha. | ||
CO 27/13 | 524640 | 4634720 | 70.10 | 22.40 | 2.00 m @ 0.17% WO3 | |||
CO 28/13 | 524780 | 4634665 | 41.30 | 35.50 | 0.75 m @ 0.15% WO3 | |||
CO 29/13 | 524947 | 4634658 | 54.30 | 13.80 | 1.80 m @ 0.20% WO3 | |||
CO 30/13 | 524201 | 4634026 | 118.10 | 88.20 & 101.20 | 1.00 m @ 0.21 and 1.00 m @ 0.19% WO3 | Extended Castelo target area over 100 metres SW | ||
CO 31/13 | 522720 | 4635435 | 105.10 | 82.55 | 3.25 m @ 0.19% WO3 | Extended Telheira target area over 180 metres NW and 130 metres to the S/SW | ||
CO 32/13A | 522773 | 4635244 | 141.30 | 125.50 | 1.00 m @ 0.12% WO3 | |||
CO 33/13 | 522847 | 4635164 | 54.30 | N/A | no significant tungsten values | |||
CO 34/13 | 522725 | 4635514 | 53.60 | N/A | no significant tungsten values | |||
CO 35/13 | 524525 | 4633885 | 166.70 | 142.30 | 9.20 m @ 0.143% WO3 | Extended Castelo target area over 75 metres SE |
For further information please visit http://www.blackheathresources.com/s/Covas.asp.
Covas is a past-producing tungsten mine and remaining historic resources on the property have been estimated at 922,900 tonnes of 0.78% WO3 (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 $38 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% WO3 over 7.98 metres starting at a depth of 44.57 metres in Hole CO 7/12 at the Telheira target and 2.89% WO3 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.
About Avrupa:
Avrupa Minerals Ltd. is a growth-oriented junior exploration and development company focused on discovery, using a prospect generator model, of valuable mineral deposits in politically stable and prospective regions of Europe, including Portugal, Kosovo, and Germany.
About Blackheath:
Blackheath Resources Inc. is listed on the TSX Venture Exchange, and is focused on the exploration and development of past-producing tungsten mines in Portugal. Management of Blackheath 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 at www.blackheathresources.com and under the Company's profile at www.sedar.com.
ON BEHALF OF THE BOARD
James Robertson, President, CEO and Director
This news release was prepared by Company management, who take full responsibility for its content. Barry J. Price, M.Sc., P.Geo. 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. Tungsten analyses were performed by ALS Chemex in Vancouver, Canada using standard assay techniques.
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.
Blackheath Resources Inc.Alexander Langer604-684-3800info@blackheathresources.comwww.blackheathresources.com
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