Spark Energy Minerals Starts Tungsten Exploration at Its Serido Project in Brazil
Spark Energy Minerals (SPRK.CN) started reconnaissance exploration focused on tungsten at its Serido project in Brazil, it said Wednesday.Geologists are mapping the scheelite-hosting marble and calc-silicate horizons, and sampling rock and stream sediment across five regional target areas, it said. Sheelite is a calcium tungstate mineral."Tungsten has become a strategic metal, and the world is looking for supply outside China," chief executive Fernando Tallarico said in a release. "The Serido district of Rio Grande do Norte has produced scheelite for more than eighty years and hosts the largest scheelite mine in South America. Spark secured 21,500 hectares on the rocks that host those mines before tungsten prices took off, and our geologists are now in the field."Shares of the company were last seen down 11% at CA$0.04 on the Canadian Securities Exchange.
