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Blackheath Resources Inc. (TSXV:BHR,FWB:04B) entered a definitive agreement for an option to acquire a 100% interest in the past producing Vale das Gatas Tungsten Project in Portugal.
As quoted in the press release:
The Vale das Gatas mine was the second most prolific past producer of tungsten in Portugal, after Borralha, also owned by Blackheath. The Vale das Gatas mine closed in 1986 as a result of a significant decline in tungsten price. At its peak, the mine employed over 1,000 workers and produced up to 635 tonnes of tungsten concentrates annually. Ore was mined primarily from quartz veins containing the tungsten mineral wolframite together with lesser amounts of the tin mineral cassiterite. The average recovered grade of the mine was 0.35% WO3 (tungsten trioxide) per tonne. The Vale das Gatas mine is held in the Vila Verde exploration concession which covers an area of 62 square kilometres located about 100 kilometres east of Porto in northern Portugal.
Blackheath Resources President & CEO, James Robertson, said:
We are delighted to add this historic tungsten producer to our portfolio under very favourable terms. Initial work will commence immediately with a view to a diamond drill program early next year.
Click here to read the Blackheath Resources Inc. (TSXV:BHR,FWB:04B) press release
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