13 Sep 2013 11:45
13 September 2013
W Resources Plc
("W" or "the Company")
3.5km Gold Anomaly Identified at Portalegre Project in Portugal
W Resources Plc (AIM:WRES), the Spain and Portugal focused tungsten and gold exploration and development company is pleased to report the excellent soil sampling results from its Crato Assumar Arronches (CAA) area of the Portalegre gold project in Portugal.
The soil sampling programme conducted over the last six months has identified a 3.5 km long anomaly with encouraging gold values up in excess of 1000 ppb. The anomaly remains open towards the southeast.
A total of 612 soil samples were taken and analysed; the sampled area was 10 km2. With background values clearly below 30 ppb Au, 35 samples had values in excess of 60 ppb and 65 samples had values in excess of 30 ppb Au.
The results of the soil sampling and geochemistry program can be found on the Company's website at http://www.wresources.co.uk/projects/portalegre/. The work to date highlights a high concentration NW-SE band to the south west of the originally sampled area.
The next step in the programme is to extend the soil sampling coverage, followed by trenching and drilling.
Commenting on the 3.5km long anomaly, W Chairman Michael Masterman said: "CAA / Portalegre remains a highly prospective gold exploration play - the key is systematically determining where to drill. The results of this program provide strong guidance for the next phase of our program."
In other news, progress continues on schedule and budget with the La Parrilla Tailings processing facility. Construction is well advanced on the pre-concentration plant and photographs showing the current state of development are shown on the W Resources website at http://www.wresources.co.uk
Enquiries:
W Resources Plc | Grant Thornton UK LLP - Nomad |
Michael Masterman | Colin Aaronson / Melanie Frean / Jen Clarke |
T: +44 (0) 20 7193 7463 | T: +44 (0) 20 7383 5100 |
www.wresources.co.uk | |
SI Capital - Broker | Gable Communications |
Andy Thacker / Nick Emerson | Justine James |
T: +44 (0) 1483 413500 | T: +44 (0) 20 7193 7463 |
www.sicapital.co.uk | M: +44 (0) 7525 324431 |
About Portalegre
On 23 March 2012, W Resources, 100% owned subsidiary Iberian Resources Portugal, was awarded a licence for the exploration of the "Crato-Assumar-Arronches area", adjacent to the original São Martinho gold prospect area. Both areas are located near the town of Portalegre (Northern Alentejo) and around 200 km East of Lisbon. The CAA area has an initial period of 2 years plus 3 annual extensions (for a total of 5 years) and covers an area of 392.8 km². The São Martinho, area has an extension of 101.7 km².
Sampling, Assaying and Quality Assurance / Quality Control (QA/QC) Measures
Samples were collected at 50 m intervals on lines spaced 100 m apart as well as 100 m intervals on lines located 200 m apart.
Individual soil samples weighing in the range of 1,500 grams were taken at a depth of approximately 50 cm by auguring down to this depth at three sites within one metre of the predetermined sample point. Location (GPS) and notes describing the site and the nature of the samples collected were recorded.
The samples were homogenised and sieved to minus 80 mesh; a split weighing approximately 150 gram was then forwarded by the Company personnel to the ALS Minerals facility in Seville for analysis. The samples were analysed for gold by aqua regia digestion with ICP-MS finish (ALS: Au-TL42). Thirty-five other elements (Ag, Al, As, B, Ba, Be, Bi, Ca, Cd, Co, Cr, Cu, Fe, Ga, Hg, K, La, Mg, Mn, Mo, Na, Ni, P, Pb, S, Sb, Sc, Si, Th, Ti, Tl, U, V, W, Zn: ALS: ME-ICP41) were analysed by ICP-AES after digestion by aqua regia.
Duplicate samples split from the -80 mesh portion sent to ALS have been kept for further checks in case irregularities are observed in the laboratory results for one or all analysed elements analysis or their plotted distribution. ALS, which is an accredited laboratory under ISO 9001:2008, maintains full quality control during all analytical procedures.
Technical information in this report and on the W website has been prepared in accordance with the JORC Code and approved for inclusion by Mr Fernando de la Fuente, who is a "qualified person" in respect of the AIM Rules for Companies with over 37 years' experience in the Exploration and Mining Geology industry. Mr de la Fuente holds a B.Sc. in Geology and a MSc in Geology from the University of Granada in Spain. He is also a member of the Spanish College of Geologists (Number 49), the Spanish Society of Mineralogy, founder member of the Spanish Society of Geology, member of the Spanish Association of Applied Geology to Mineral Deposits, member of the Society for Mining, Metallurgy and Exploration, Inc., member of PDAC.