Blackheath Reports Completion of Phase 1 Exploration at Covas Tungsten Project
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/28/13 -- Blackheath Resources Inc. (TSX VENTURE: BHR)(FRANKFURT: 04B) reports the completion of the Phase 1 exploration program at the company's Covas Tungsten Project in northern Portugal. The program successfully confirmed and tested known skarn-related mineral zones and extensions as well as new targets at Covas. Work included re-interpretation of magnetic data and completion of a gravity survey as well as mapping and sampling and a total of 1,606 metres of diamond drilling in 15 completed holes. Review of all data and results is now underway in preparation for the next phase of work which will commence later this April and will include further diamond drilling.
Highlights of the Phase 1 program included previously reported intercepts of high grade tungsten mineralization including 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 1.56% WO3 over 11.40 metres in Hole CO 13/12 starting at a depth of 52.70 metres at the Lapa Grande target. 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 last two holes of the Phase 1 program were drilled at the Lapa Grande target and have not been previously reported. Hole CO 20/13 tested an area to the east of the mineralized zone with weak tungsten grades but with a previously unknown gold zone averaging 0.31 grams/tonne gold and 4.4 grams/tonne silver over 5 metres starting at a depth of 53.70 metres. This may be an intrusion related gold zone associated with a northwest trending shear or greisen zone. Hole CO 21/13 tested an area to the west and intercepted 4.02 metres of skarn mineralization starting at 62.63 metres and averaging 0.142% WO3. (See news release March 1, 2013 for drill hole locations). Drill holes were vertical and intercepts are considered to represent close to the true thickness of the mostly flat-lying mineralized zones.
"We are pleased with the results of our Phase 1 program at Covas and look forward to planning the next phase of our work. The objectives of our 2013 program, which will include further diamond drilling, will be to expand the known skarn-related tungsten mineralization and to develop a larger tungsten-gold target in the central Covas Dome area," said James Robertson, President & CEO of Blackheath Resources. "In the meantime we will be commencing a program of initial exploration of our past-producing Borralha tungsten and Bejanca tin-tungsten projects in northern Portugal."
Covas is a past-producing tungsten mine and remaining historic resources (indicated and inferred) on the property have been estimated at 922,900 tonnes of 0.78% WO3 by Union Carbide in 1980, based on work including 327 drill holes on the property. Mineralization is open to expansion. The price of tungsten has increased significantly in recent years and is currently approximately $36 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).
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.
Further information about the Covas Tungsten Project and the company's activities may be found at www.blackheathresources.com and under the company's profile at www.sedar.com.
About Blackheath:
Blackheath Resources Inc. is listed on the TSX Venture Exchange and is focused on tungsten exploration and development 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.
About Avrupa:
Avrupa Minerals Ltd. is a growth-oriented junior exploration and development company focused on discovery, using a prospect generator business model, of 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
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 of this release and approved the content. Tungsten analyses were performed by ALS Chemex in Vancouver, Canada using standard assay techniques.
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.
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.
Contacts:
Blackheath Resources Inc.
James Robertson, P.Eng.
CEO, President & Director
info@blackheathresources.com
www.blackheathresources.com