Portugal’s mining strategy may favour copper over lithium
Portugal already has the largest copper mine in the European Union, operated by Lundin Mining.
Fifteen holes have been drilled so far at Ormonde Mining’s Tungsten project in Barruecopardo. The company released the final results of the infill drilling program on Wednesday. Highlights from the company’s press release were the following:
Assay results from the initial three holes on the southern extreme of the deposit, where all current resources are in the “Inferred” category, have been received and are reported below:
Main Points
•All three holes encountered tungsten mineralisation with expected widths and grades in line with previously reported wider spaced holes in the narrower southern extreme of the deposit where these holes are located.
•Results include 6 metres grading 0.5% WO3 (tungsten trioxide), 3 metres grading 0.8% WO3 and 2 metres grading 2.0% WO3.
•A total of fifteen holes have been drilled to-date in this programme and drilling continues. Further assay results from this drilling will be released on a 4-5 week basis over the coming months.
•Preparation of further documentation in the permitting process is progressing in close liaison with our Spanish consultants.
Kerr Anderson, Ormonde’s Managing Director, said the company is advancing the required technical works and the permitting process for a mining concession.
“The company says that Tungsten prices have continued to rise due to on-going supply shortages with the European tungsten APT price now quoted as US$368-372 per metric tonne unit (mtu), a rise of almost 50% in the past six months,” said Kerr.
