13 Jan 2014 07:00
13 January 2014
W Resources Plc
("W" or the "Company")
Successful Commissioning of Pre-Concentration Plant at La Parrilla
W Resources Plc (AIM:WRES), a tungsten and gold exploration and development company with assets in Spain and Portugal has successfully test commissioned its pre-concentration plant at La Parrilla Tailings Project in Spain. This plant is now complete.
The pre-concentration plant was successfully run at its full capacity of 350 tonnes per hour feed rate and successfully separated the target size fraction.
Construction of the final processing plant is near completion with almost all equipment now on site and final installation underway, with first tungsten production anticipated in the next month.
Enquiries:
W Resources Plc | Grant Thornton UK LLP |
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 | 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 La Parrilla
The La Parrilla project site is situated in the Extremadura region of southwest Spain, in the Provinces of Caceres-Badajoz, approximately 310 km southwest of Madrid. The site is accessed directly from the highway along a 3 km asphalt road and is serviced by electricity and water. The project comprises a tungsten mine and a tungsten tailings project. The historic mine resource estimated by SRK in 2008 is 36.0 million tonnes at 0.09% WO3, making it one of the largest tungsten deposits in the western world.
With the final approvals granted at the La Parrilla tailings project in January 2013, by the Mining Department of the regional authority of the Junta de Extremadura, the Company is targeting first production in Q1 2014. Annual plant feed will be 330,000 tonnes and annual production is anticipated to be 28,000 MTU Tungsten (W) and 26 tonnes Tin (Sn), which will deliver over €7 million per annum in revenue at current tungsten and tin prices.
The price of tungsten has increased rapidly over the last 3 years by more than double. The La Parrilla tailings deposit and tungsten mine development offer a low cost, high margin resource development opportunity for W Resources.
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.