4 Dec 2014 07:00
4 December 2014
W Resources Plc
("W" or the "Company")
CAA / Portalegre Drilling Campaign Commences
W Resources Plc (AIM:WRES), the tungsten, copper and gold exploration, development and production company with assets in Spain and Portugal, has commenced a scout diamond drilling programme at its Crato-Assumar-Arronches (CAA) / Portalegre gold project, in central eastern Portugal.
Building on the strong trenching exploration results reported in October 2014, the Company today commenced a 900 metre diamond drilling campaign, target testing 5 holes located in the 9km long trend in the south-east of the exploration licence to investigate the nature of the mineralised system and its extensions both laterally and along strike. Four of the holes will target the gold anomalies identified in two of the trenches completed mid-year while the final hole will scout for a silver-lead-zinc anomaly highlighted in 5 of the trenches.
This exploration licence area has not been drilled in the past and the assays from the trenching highlighted not only gold, but silver, lead and zinc mineralisation across a very large target area.
Mr Michael Masterman, Chairman of W Resources, said: "CAA / Portalegre is a prospect rich exploration licence. The soil sampling and subsequent trench work highlighted gold, copper and - out of left field - silver, lead and zinc targets within the CAA area. This program constitutes the first round of exploration drilling at relatively shallow depth and provides very significant upside exposure for shareholders."
A graphic showing the five target testing drill holes can be found on the 'CAA / Portalegre' page of the Company website www.wresources.co.uk
Enquiries:
W Resources Plc | Grant Thornton UK LLP |
Michael Masterman | Colin Aaronson / Jen Clarke / Harrison Clarke |
T: +44 (0) 20 7193 7463 | T: +44 (0) 20 7383 5100 |
www.wresources.co.uk | |
SI Capital | Gable Communications |
Andy Thacker / Nick Emerson | John Bick |
T: +44 (0) 1483 413500 | T: +44 (0) 20 7193 7463 |
www.sicapital.co.uk | M: +44 (0) 7872 061007 |
About CAA / 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 200km 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 188.05km². The São Martinho area has an extension of 101.7km².
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 39 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.