WRES.L Share News (WRES)

AIM-listed tungsten and gold exploration company W Resources has completed its extended drilling programme at La Parrilla in the southwest of Spain.The company reported that assay results for the final two holes in the 11-hole La Parrilla extension drilling programme were confirmed with key highlights including 0.114% Tungsten Trioxide at 9.25m in the hole referred to as IP-10 and 0.135% Tungsten Trioxide at 7.62m in the same hole.In the hole known as IP-11, the company reported 0.149% Tungsen Trioxide at 12m and 0.132% Tungsten Trioxide at 15.25m.At the La Parrilla tailings project the company reported that it was making "good progress" and "is on track to deliver its first tungsten production in the second half of 2013".Chairman: Results have 'exceeded expectations'Michael Masterman, Chairman of W Resources, said: "Taking the decision to extend the drilling programme has delivered results which have exceeded our expectations, with the last two holes delivering thick intersections close to surface and above the average reserve grade. "Golder Associates has today commenced the resource estimation process and we expect a revised resource estimate in the next quarter."W Resources' share price was down 4.03% to 1.19p at 10:04 on Monday.MF