On 11 November 2016, BMR entered into an option to acquire an 80% interest in an exploration concession for tungsten, tin and potentially other minerals including gold and silver, over the property known as 'Ester' in Northern Portugal with previous historic workings (the "Ester Project").
BMR is pleased to announce the results of its first exploration campaign at the Ester Project, which was undertaken in conjunction with BMR's partner Mineralia-Minas, Geotecnia E Construcoes, LDA ("Mineralia"). BMR has to date expended EUR60,800 on the Ester Project, as a result of which it is now required to spend a further EUR39,200 to fulfil the payment terms of Minerlia Option Agreement whereupon the option will become exercisable until 10 November 2017.
The Ester Project includes, within its 327.7 sq. km, the historic Rio de Frades ("Frades") and Regoufe Tungsten ("Wolfram") mines. In addition, there are numerous official and unofficial small scale surface workings, old mine adits and dumps reflecting the intensity of historic mining activity and the extent of the mineralisation on the licence.
The Ester licence lies approximately 70 km north of Portugal's only operating Tungsten mine at Panasqueira.
Geological field campaign
The field campaign ran between 21 November and 15 December 2016, during which time all the field samples collected were shipped to Wheal Jane Laboratories in Cornwall for a 28 element Inductively Coupled Plasma ("ICP") scan and precious metals analysis.
Overview and Results
The Board believes that the combination of (i) field sample assay results (ii) examination of historic mining data and (iii) limited structural analysis have identified multiple target areas within the Ester project.
These initial results have enabled BMR to define five high-priority targets for immediate further examination within the Regoufe Granite area of the Ester Licence, each hosting potential vein-style tin-tungsten (Sn-W) mineralisation with possible gold (Au), silver (Ag) and lithium (Li) credits. These have been designated:
· Regoufe Mine Area
· Regoufe Mine Interchange
· Regoufe North
Selected best results from the 87 samples collected include 4.7g/t Au; 46.1g/t Ag; 2.07% Sn; 0.5% W and 0.12% Li. These are summarised by target areas below and, in the Board's opinion, serve to illustrate the potential of the entire licence area.
The source of mineralisation for a previously undiscovered Roman alluvial gold mine at Janarde will also form part of a future exploration campaign.
Comparison with other Tungsten operations
Ester's geological mineralised quartz vein structures appear to share many similarities with Wolf Mineral's Drakeland Mine in Devon (declared r
Vitod, it occurred to me that perhaps Zema may be taking a more careful look at our Star Zinc plans due to the fact that we intend to transport millions more tonnes of toxic soil into the Kabwe area? I expect that they will have to be persuaded that all the stages of removal and processing of Star Zinc material (including loading/offloading while transporting it 90 kms cross country) will not add to ongoing pollution problems in the area.
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