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
Early adopters of IoT viewed it mainly as a different term for machine-to-machine connectivity or M2M. This is understandable since a prerequisite for any IoT solution is the ability to collect and aggregate device data, which is most often presented in a dashboard. The problem is that viewing data in a dashboard requires a human to interpret the results and take manual action, which doesn’t scale to the needs of IoT.
SYS-CON Events announced today the Kubernetes and Google Container Engine Workshop, being held November 3, 2016, in conjunction with @DevOpsSummit at 19th Cloud Expo at the Santa Clara Convention Center in Santa Clara, CA. This workshop led by Sebastian Scheele introduces participants to Kubernetes and Google Container Engine (GKE). Through a combination of instructor-led presentations, demonstrations, and hands-on labs, students learn the key concepts and practices for deploying and maintainin...
Cloud analytics is dramatically altering business intelligence. Some businesses will capitalize on these promising new technologies and gain key insights that’ll help them gain competitive advantage. And others won’t. Whether you’re a business leader, an IT manager, or an analyst, we want to help you and the people you need to influence with a free copy of “Cloud Analytics for Dummies,” the essential guide to this explosive new space for business intelligence.
So, you bought into the current machine learning craze and went on to collect millions/billions of records from this promising new data source. Now, what do you do with them? Too often, the abundance of data quickly turns into an abundance of problems. How do you extract that "magic essence" from your data without falling into the common pitfalls? In her session at @ThingsExpo, Natalia Ponomareva, Software Engineer at Google, provided tips on how to be successful in large scale machine learning...
What does it look like when you have access to cloud infrastructure and platform under the same roof? Let’s talk about the different layers of Technology as a Service: who cares, what runs where, and how does it all fit together. In his session at 18th Cloud Expo, Phil Jackson, Lead Technology Evangelist at SoftLayer, an IBM company, spoke about the picture being painted by IBM Cloud and how the tools being crafted can help fill the gaps in your IT infrastructure.
"delaPlex is a software development company. We do team-based outsourcing development," explained Mark Rivers, COO and Co-founder of delaPlex Software, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
"C2M is our digital transformation and IoT platform. We've had C2M on the market for almost three years now and it has a comprehensive set of functionalities that it brings to the market," explained Mahesh Ramu, Vice President, IoT Strategy and Operations at Plasma, in this SYS-CON.tv interview at @ThingsExpo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Traditional IT, great for stable systems of record, is struggling to cope with newer, agile systems of engagement requirements coming straight from the business. In his session at 18th Cloud Expo, William Morrish, General Manager of Product Sales at Interoute, outlined ways of exploiting new architectures to enable both systems and building them to support your existing platforms, with an eye for the future. Technologies such as Docker and the hyper-convergence of computing, networking and sto...
Whether your IoT service is connecting cars, homes, appliances, wearable, cameras or other devices, one question hangs in the balance – how do you actually make money from this service? The ability to turn your IoT service into profit requires the ability to create a monetization strategy that is flexible, scalable and working for you in real-time. It must be a transparent, smoothly implemented strategy that all stakeholders – from customers to the board – will be able to understand and comprehe...
SYS-CON Events announced today that LeaseWeb USA, a cloud Infrastructure-as-a-Service (IaaS) provider, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. LeaseWeb is one of the world's largest hosting brands. The company helps customers define, develop and deploy IT infrastructure tailored to their exact business needs, by combining various kinds cloud solutions.
Using new techniques of information modeling, indexing, and processing, new cloud-based systems can support cloud-based workloads previously not possible for high-throughput insurance, banking, and case-based applications. In his session at 18th Cloud Expo, John Newton, CTO, Founder and Chairman of Alfresco, described how to scale cloud-based content management repositories to store, manage, and retrieve billions of documents and related information with fast and linear scalability. He addres...
The cloud market growth today is largely in public clouds. While there is a lot of spend in IT departments in virtualization, these aren’t yet translating into a true “cloud” experience within the enterprise. What is stopping the growth of the “private cloud” market? In his general session at 18th Cloud Expo, Nara Rajagopalan, CEO of Accelerite, explored the challenges in deploying, managing, and getting adoption for a private cloud within an enterprise. What are the key differences between wh...
Adding public cloud resources to an existing application can be a daunting process. The tools that you currently use to manage the software and hardware outside the cloud aren’t always the best tools to efficiently grow into the cloud. All of the major configuration management tools have cloud orchestration plugins that can be leveraged, but there are also cloud-native tools that can dramatically improve the efficiency of managing your application lifecycle. In his session at 18th Cloud Expo, ...
It’s 2016: buildings are smart, connected and the IoT is fundamentally altering how control and operating systems work and speak to each other. Platforms across the enterprise are networked via inexpensive sensors to collect massive amounts of data for analytics, information management, and insights that can be used to continuously improve operations. In his session at @ThingsExpo, Brian Chemel, Co-Founder and CTO of Digital Lumens, will explore: The benefits sensor-networked systems bring to ...
When building large, cloud-based applications that operate at a high scale, it’s important to maintain a high availability and resilience to failures. In order to do that, you must be tolerant of failures, even in light of failures in other areas of your application. “Fly two mistakes high” is an old adage in the radio control airplane hobby. It means, fly high enough so that if you make a mistake, you can continue flying with room to still make mistakes. In his session at 18th Cloud Expo, Lee...