Welcome!

News Feed Item

Blackheath Signs Definitive Agreements for Borralha and Bejanca Tungsten Projects

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 12/12/12 -- Blackheath Resources Inc. (TSX VENTURE:BHR)(FRANKFURT:04B) is pleased to announce that the Company has entered into definitive agreements (the "Agreements") for options to acquire a 100% interest in each of the Borralha Tungsten project and the Bejanca Tungsten-Tin project in northern Portugal. Both are past-producing mines and have the potential for development of additional tungsten and tin resources. Exploration plans are underway commencing with data compilation and early diamond drilling.

Borralha was Portugal's second largest tungsten mine until its closure in 1985 as a result of a decline in tungsten price. Ore was mined primarily from vertical quartz veins, supplemented by limited open pit excavations in the later years. Initial work by Blackheath will focus on exploration of two large, partially-developed tungsten-bearing breccia zones and several relatively untested sub-horizontal tungsten and tin bearing veins. The Borralha concession covers an area of 127.5 square kilometres located about 60 kilometres northeast of Porto in northern Portugal.

The Bejanca mines operated from the early 1900's until 1985 producing tin concentrates as well as tungsten concentrates which were smelted on-site to ferrotungsten for use in steel alloys. Mining was from several shallow open pits and shallow underground workings of tungsten-bearing hydrothermal quartz veins and stockworks in tungsten-bearing greisens. The Bejanca concession covers an area of 89 square kilometres located about 55 kilometres southeast of Porto in northern Portugal.

Blackheath's President & CEO, James Robertson, said: "We are very pleased to confirm the addition of the historic Borralha and Bejanca mines to our Portuguese tungsten portfolio under terms that are very favourable to our shareholders. We expect to commence a preliminary drilling program on both projects at an early date following data compilation and review."

Blackheath holds the options for both projects from Mineralia - Minas, Geotecnia e Construcoes, Lda. ("Mineralia") through exploration concessions (the "Concessions") granted by the Government of Portugal. The Concessions are granted for an initial period of two years renewable for a further three years in one year increments, after which they may be converted into preliminary exploitation licences and final exploitation licences successively. Under the Agreements, Blackheath will undertake to fulfill the terms of each Concession, including staged minimum exploration expenditures at Borralha totalling EUR980,000 over five years, and staged minimum exploration expenditures at Bejanca totalling EUR650,000 over five years. Under each agreement, Blackheath will pay Mineralia EUR25,000 upon execution of this definitive agreement, a further EUR100,000 upon the grant of a preliminary exploitation licence and a further EUR1 million upon mine production and the grant of a final exploitation licence, at which time Blackheath will hold a 100% interest in the project with no further obligations to Mineralia.

About Blackheath:

Blackheath Resources Inc. is listed on the TSX Venture Exchange, and is focused on tungsten exploration and development in Portugal. The Company also holds the Covas tungsten project, where exploration and drilling is currently underway. 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, P. Eng., CEO, President & Director

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.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
All clouds are not equal. To succeed in a DevOps context, organizations should plan to develop/deploy apps across a choice of on-premise and public clouds simultaneously depending on the business needs. This is where the concept of the Lean Cloud comes in - resting on the idea that you often need to relocate your app modules over their life cycles for both innovation and operational efficiency in the cloud. In his session at @DevOpsSummit at19th Cloud Expo, Valentin (Val) Bercovici, CTO of Soli...
"We're a cybersecurity firm that specializes in engineering security solutions both at the software and hardware level. Security cannot be an after-the-fact afterthought, which is what it's become," stated Richard Blech, Chief Executive Officer at Secure Channels, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
"IoT is going to be a huge industry with a lot of value for end users, for industries, for consumers, for manufacturers. How can we use cloud to effectively manage IoT applications," stated Ian Khan, Innovation & Marketing Manager at Solgeniakhela, in this SYS-CON.tv interview at @ThingsExpo, held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA.
Information technology is an industry that has always experienced change, and the dramatic change sweeping across the industry today could not be truthfully described as the first time we've seen such widespread change impacting customer investments. However, the rate of the change, and the potential outcomes from today's digital transformation has the distinct potential to separate the industry into two camps: Organizations that see the change coming, embrace it, and successful leverage it; and...
Join Impiger for their featured webinar: ‘Cloud Computing: A Roadmap to Modern Software Delivery’ on November 10, 2016, at 12:00 pm CST. Very few companies have not experienced some impact to their IT delivery due to the evolution of cloud computing. This webinar is not about deciding whether you should entertain moving some or all of your IT to the cloud, but rather, a detailed look under the hood to help IT professionals understand how cloud adoption has evolved and what trends will impact th...
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, discussed the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
We are always online. We access our data, our finances, work, and various services on the Internet. But we live in a congested world of information in which the roads were built two decades ago. The quest for better, faster Internet routing has been around for a decade, but nobody solved this problem. We’ve seen band-aid approaches like CDNs that attack a niche's slice of static content part of the Internet, but that’s it. It does not address the dynamic services-based Internet of today. It does...
Internet of @ThingsExpo, taking place June 6-8, 2017 at the Javits Center in New York City, New York, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @ThingsExpo New York Call for Papers is now open.
What happens when the different parts of a vehicle become smarter than the vehicle itself? As we move toward the era of smart everything, hundreds of entities in a vehicle that communicate with each other, the vehicle and external systems create a need for identity orchestration so that all entities work as a conglomerate. Much like an orchestra without a conductor, without the ability to secure, control, and connect the link between a vehicle’s head unit, devices, and systems and to manage the ...
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
Everyone knows that truly innovative companies learn as they go along, pushing boundaries in response to market changes and demands. What's more of a mystery is how to balance innovation on a fresh platform built from scratch with the legacy tech stack, product suite and customers that continue to serve as the business' foundation. In his General Session at 19th Cloud Expo, Michael Chambliss, Head of Engineering at ReadyTalk, discussed why and how ReadyTalk diverted from healthy revenue and mor...
"Qosmos has launched L7Viewer, a network traffic analysis tool, so it analyzes all the traffic between the virtual machine and the data center and the virtual machine and the external world," stated Sebastien Synold, Product Line Manager at Qosmos, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
"We are a modern development application platform and we have a suite of products that allow you to application release automation, we do version control, and we do application life cycle management," explained Flint Brenton, CEO of CollabNet, in this SYS-CON.tv interview at DevOps at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
The 20th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held June 6-8, 2017, at the Javits Center in New York City, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal ...
You have great SaaS business app ideas. You want to turn your idea quickly into a functional and engaging proof of concept. You need to be able to modify it to meet customers' needs, and you need to deliver a complete and secure SaaS application. How could you achieve all the above and yet avoid unforeseen IT requirements that add unnecessary cost and complexity? You also want your app to be responsive in any device at any time. In his session at 19th Cloud Expo, Mark Allen, General Manager of...