W Resources Discovers Tungsten Intersections At Regua Mine Development

LONDON (Alliance News) - W Resources PLC said Tuesday it discovered high-grade tungsten intersections at its Regua mine development in northern Portugal.

Among the highlights of the reverse circulation drilling programme, the company discovered 29 metres at 0.75% tungsten trioxide from 48 metres, which the mining company described as "higher than expected".

"Three of the reported assay results are above 1% and almost 50% of the results are greater than the average grade of the orebody," the company added.

Chairman Michael Masterman said: "These are exceptional results in the north-western part of the Regua orebody and it is great to receive them in the lead up to the trial mine development. The orebody remains open at depth and in all directions, specifically the zones to the northwest are indicating significant width and grade and are highly prospective for mine extension drilling. Preliminary works including this drilling programme are advancing."

W Resources shares were trading down 1.0% at 0.48 pence each on Tuesday afternoon.