PYX Resources: Achieving volume and diversification milestones. Watch the video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksWRES.L Regulatory News (WRES)

  • There is currently no data for WRES

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

3.5km Gold Anomaly Identified at Portalegre

13 Sep 2013 11:45

RNS Number : 9577N
W Resources PLC
13 September 2013
 



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.

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCGGUGWBUPWGUW
Date   Source Headline
13th May 20143:05 pmRNSPlacing
24th Apr 20149:40 amRNSFinal Results for the Year Ended 31 December 2013
17th Apr 20149:49 amRNSEncouraging Gold and Copper Values in Portalegre
14th Apr 20147:00 amRNSFirst production from La Parrilla
6th Mar 20147:00 amRNSDrilling starts at high grade Tarouca Project
28th Feb 20147:01 amRNSLa Parrilla Tailings Update
26th Feb 201412:45 pmRNSResignation of Director
22nd Jan 20147:00 amRNSLa Parrilla Grades exceed expectations
13th Jan 20147:00 amRNSCommissioning of Pre-Concentration Plant
10th Dec 20134:45 pmRNSPlacing
24th Oct 20139:39 amRNSTrenching at Tarouca continues to deliver
26th Sep 201310:25 amRNSInterim Results
13th Sep 201311:45 amRNS3.5km Gold Anomaly Identified at Portalegre
30th Aug 20138:37 amRNSLa Parrilla Mine Acquisition
19th Jul 201310:12 amRNSDirector dealing
17th Jul 20139:05 amRNSPlacing
28th Jun 201312:40 pmRNSResult of AGM
18th Jun 201311:30 amRNSLa Parilla JORC Resource Increase of 30%
4th Jun 20134:15 pmRNSNotice of AGM
9th May 20139:35 amRNSW Resources commences construction of facility
24th Apr 201312:11 pmRNSAnnual Financial Report
18th Apr 201310:45 amRNSPlacing
19th Mar 20139:05 amRNSTarouca Early Exploration Success
8th Mar 201312:56 pmRNSHolding(s) in Company
25th Feb 20137:00 amRNSLa Parrilla Extension Drilling Completed
20th Feb 201310:09 amRNSPlacing
8th Feb 201310:00 amRNSDirector dealing
30th Jan 201310:27 amRNSW Resources completes Placing
28th Jan 20137:00 amRNSDrilling Update
22nd Jan 20137:00 amRNSLa Parrilla Tailings Project Approved
28th Nov 20129:56 amRNSHolding(s) in Company
16th Nov 20127:00 amRNSLa Parrilla Tailings Environmental Authorisation
8th Nov 20122:00 pmRNSW Resources Completes Placing
31st Oct 20127:00 amRNSPortalegre drilling update
30th Oct 20123:37 pmRNSHolding(s) in Company
29th Oct 20127:00 amRNSLa Parrilla Tailings Project Update
18th Oct 20127:00 amRNSCompany Presentation
4th Oct 20125:17 pmRNSJORC resources at Regua increase 30%
27th Sep 20127:00 amRNSInterim Results
10th Sep 20127:00 amRNSHigh Grade Assay Results Continue at La Parrilla
20th Aug 20127:00 amRNSHigh Grade Assay Results Continue at La Parrilla
13th Jul 201210:10 amRNSIssue of Equity
11th Jul 20124:20 pmRNSChange of Company Name
26th Jun 20124:15 pmRNSCaspian announces Placing
26th Jun 20122:05 pmRNSFirst assay results from Portalegre
22nd Jun 201211:48 amRNSResult of AGM
25th May 201210:00 amRNSCaspian to Acquire Assets in Portugal
16th May 20129:14 amRNSHigh Grade Assay Results
27th Apr 20129:45 amRNSFinal Results for the Year End 31 December 2011
16th Apr 20127:00 amRNSDrilling update - La Parrilla

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.