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Bango Alloy Technologies Co., Ltd.




Black Fire Minerals intersects further tungsten at Pilot Mountain, eyes JORC Resource

Posted by bangoben on March 26, 2012



19th Mar 2012, 12:27 am Black Fire Minerals (ASX: BFE) is aiming for a maiden JORC Resource in the June quarter at the Desert Scheelite Prospect following assays from diamond drilling which intersected substantial tungsten mineralisation.



Desert Scheelite is located within Black Fire’s Pilot Mountain Tungsten-Copper Project in Nevada.

The best results from the latest two holes assayed include: 20.1 metres at 0.32% tungsten, 0.2% copper and 12 grams per tonne silver from 118 metres; and 31.5 metres at 0.31% tungsten from 112.9 metres.



The drilling program was completed recently, with the last two holes intersecting scheelite bearing skarn mineralisation 150 metres to the east, outside the Union Carbide Feasibility Study area. Mineralisation at Desert Scheelite extends over 650 metres of strike and 330 metres vertical extent, remaining open in all directions.Chairman Anthony Baillieu said Black Fire was preparing to deliver a maiden JORC Resource by the end of June this year.



“With the completion of a successful resource drilling program at Desert Scheelite we are looking forward to receiving the outstanding assays for the final four holes and commencing work on the maiden JORC resource estimate,” Baillieu said.Black Fire is compiling data and constructing a new geological and Resource model for the delineation of the resource.The company plans to commence a Scoping Study in the September quarter.



Further potential at Pilot Mountain



Desert Scheelite is one of three advanced prospects at Pilot Mountain, with extensive drilling and mining feasibility studies carried out in the early 1980s by Union Carbide. A drop in world Tungsten alloy prices in the mid-1980s led to the project being mothballed. With demand for tungsten pushing prices higher, Baillieu said it was a good time to be progressing work at Pilot Mountain.



“The Board continues to be highly encouraged by developments in the tungsten market, including recent investments by Berkshire Hathaway, and intends to rapidly progress the Pilot Mountain Project towards development,” Baillieu said. Black Fire has outlined an exploration target for Desert Scheelite of 4-5 million tonnes at 0.3-0.34% Tungsten bar, while the overall exploration target across the three advanced prospects is 7-9 million tonnes at 0.3-0.37% tungsten.The company also has location on its side, with the project located just 20 kilometres from a major intrastate highway that links Reno to Las Vegas and 20 kilometres from power. The United States is a net importer of tungsten concentrates, offering a potential domestic market, while the good regulatory environment in Nevada is also a plus.



Business development



Black Fire is focused on building value in its portfolio of existing projects, which includes the Kangeshi Copper-Silver Project in the Democratic Republic of the Congo, the Longonjo Rare Earth Project in Angola and Mystique Gold Project in Western Australia.



In addition, the company is evaluating a number of projects which may have synergies with its current interests. Black Fire is well placed financially, with A$4.5 million in cash on hand at the end of the December 2011 quarter.

http://www.tungstenalloy.net/news/black-fire-minerals-intersects-further-tungsten-at-pilot-mountain-eyes-jorc-resource/