7 Dec 2015 07:00
7 December 2015
W Resources Plc
("W" or the "Company")
Drilling at La Parrilla Yields High Grade Intersections
from Surface - 40m @ 0.32% WO3
W Resources Plc (AIM:WRES), the tungsten, copper and gold mining, exploration, development and production company with assets located in Spain and Portugal, has received exceptional assay results from the latest phase of its drilling campaign at La Parrilla Fast Track Mine ('FTM') in Spain.
The RC and Diamond Core drilling programme at the FTM mining area, which received mine development approval in November, has returned some exceptionally strong assay results located near surface including: 40m at 0.32% WO3 from surface in Hole IRC1-40, 56.20m at 0.21% WO3 from 47.5m in Hole IP-21 and 19m at 0.2% WO3 from 21m in Hole IRC1-33. These are thick intersections at materially higher grade than the rest of the orebody and further indicate the mineralisation is open to the South East and at depth.
Drilling at La Parrilla West has also delivered solid results with new Hole IP-25 reporting 28.40m at 0.25% WO3 from 43.2m.
Commenting on the results Michael Masterman, Chairman of W Resources said: "We are delighted with the latest drilling results at La Parrilla which highlight high grades in the South East of the FTM area as well as at La Parrilla West. The thick, high grade results in the FTM area are at the edge of what was previously considered the southern extent of the orebody - this is now open with significant grade and tonnage potential.These results enable us to better delineate the areas for mine planning next year and are higher than initially expected.
"The project continues to make good progress, with metallurgical and process design work advancing well, and updated geological modelling underway for the updated JORC compliant mineral resource estimate. The resource update will be completed in Q1 2016 and will form the base of revised mine plan and design. We remain on track for production and cash flow generation from the Fast Track Mine in late 2016."
A summary of key results is shown in the following table:
TYPE | HOLE | FROM (m) | TO (m) | INTERSECTION (m) | TRUE THICKNESS (m) | WO3 ppm | WO3 % | Sn ppm | Sn % |
CORE | IP-13 | 48.40 | 82.80 | 34.40 | 29.79 | 871 | 0.087 | 477 | 0.048 |
CORE | IP-15 | 66.00 | 89.30 | 23.30 | 20.18 | 1018 | 0.102 | 139 | 0.014 |
CORE | IP-16 | 74.50 | 92.30 | 17.80 | 15.41 | 952 | 0.095 | 599 | 0.060 |
CORE | IP-16 | 98.55 | 117.60 | 19.05 | 16.50 | 1211 | 0.121 | 130 | 0.013 |
CORE | IP-17 | 10.20 | 76.50 | 66.30 | 57.42 | 1531 | 0.153 | 320 | 0.032 |
CORE | IP-17 | 85.45 | 106.30 | 20.85 | 18.06 | 849 | 0.085 | 356 | 0.036 |
CORE | IP-19 | 20.45 | 35.65 | 15.20 | 13.16 | 995 | 0.100 | 170 | 0.017 |
CORE | IP-19 | 85.30 | 100.30 | 15.00 | 12.99 | 1331 | 0.133 | 48 | 0.005 |
CORE | IP-21 | 47.50 | 103.70 | 56.20 | 48.67 | 2113 | 0.211 | 84 | 0.008 |
CORE | IP-22 | 11.00 | 46.15 | 35.15 | 30.44 | 1296 | 0.130 | 195 | 0.020 |
CORE | IP-25 | 43.20 | 71.60 | 28.40 | 24.59 | 2533 | 0.253 | 49 | 0.005 |
RC | IRC1-02 | 6.00 | 36.00 | 30.00 | 25.98 | 1675 | 0.168 | 91 | 0.009 |
RC | IRC1-03 | 9.00 | 40.00 | 31.00 | 26.85 | 844 | 0.084 | 1449 | 0.145 |
RC | IRC1-06 | 0.00 | 15.00 | 15.00 | 12.99 | 1178 | 0.118 | 37 | 0.004 |
RC | IRC1-06 | 29.00 | 40.00 | 11.00 | 9.53 | 1617 | 0.162 | 217 | 0.022 |
RC | IRC1-10 | 33.00 | 40.00 | 7.00 | 6.06 | 1059 | 0.106 | 95 | 0.010 |
RC | IRC1-22 | 0.00 | 22.00 | 22.00 | 19.05 | 493 | 0.049 | 1035 | 0.104 |
RC | IRC1-32 | 20.00 | 30.00 | 10.00 | 8.66 | 792 | 0.079 | 577 | 0.058 |
RC | IRC1-33 | 21.00 | 40.00 | 19.00 | 15.75 | 2010 | 0.201 | 283 | 0.028 |
RC | IRC1-40 | 0.00 | 40.00 | 40.00 | 33.16 | 3185 | 0.319 | 779 | 0.078 |
Enquiries:
W Resources Plc Michael Masterman T: +44 (0) 20 7193 7463 www.wresources.co.uk | Grant Thornton UK LLP Colin Aaronson / Jen Clarke / Harrison Clarke T: +44 (0) 20 7383 5100 |
SI Capital - Joint Broker Andy Thacker / Nick Emerson T: +44 (0) 1483 413500 www.sicapital.co.uk | Gable Communications Justine James T: +44 (0) 20 7193 7463 M: +44 (0) 7525 324431 |
Northland Capital Partners - Joint Broker John Howes / Abigail Wayne (Corporate Broking) T: +44 (0) 20 7382 1100 www.northlandcp.co.uk |
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 has exceptional infrastructure in place, which 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 mine resource estimated by Golder in June 2013 is 46.92 million tonnes at 0.09% WO3, making it one of the largest tungsten deposits in the western world.
JORC Code, 2012 Edition - Table 1 report
Section 1 - Sampling Techniques and Data
Criteria | JORC Code explanation | Commentary |
Sampling techniques | · Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling. · Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. · Aspects of the determination of mineralisation that are Material to the Public Report. · In cases where 'industry standard' work has been done this would be relatively simple (eg 'reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay'). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information. | · Core drilling was used to obtain core samples. · All core was sampled in 1.4 - 3.6 m intervals. Sampling is mainly carried out over three metres intervals. · All core samples were packed on thick plastic bags with sample reference indicated both in the outside and inside with permanent ink marker pens in the outside and inside. · For transport the plastic bags were packed in thick plastic containers with sample reference indicated in the outside with permanent ink marker. · RC drilling was used to obtain RC rock chip samples. · RC chips were sampled in 1 m intervals. · All RC samples were packed on thick plastic bags with sample reference indicated both in the outside and inside with permanent ink marker pens in the outside and inside. · For transport the plastic bags were packed in big-bags containers. |
Drilling techniques | · Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc). | · Core drilling was undertaken with a track mounted ROLATEC RL-600 drill rig. · PQ wireline core (85 mm recovered Æ) was used for insuring better recovery in the weathered or fractured surficial rock mass, while otherwise HQ (63.5 mm recovered Æ) was used. · All core drill holes have been subject to downhole surveying, to record variations from the original inclination. · RC drilling was undertaken with a track mounted RGC-2500 drill rig. · The rig was equipped with 140 mm Æ drill bits (136 mm recovered Æ). · The RC rock chips were collected in a cyclone and then in thick plastic sample bags. · All core and RC drill holes were surveyed at the collar surface by high-resolution topographic survey. Data for Eastings, Northings and RL were recorded on UTM grid, Zone 29, datum ED50. |
Drill sample recovery | · Method of recording and assessing core and chip sample recoveries and results assessed. · Measures taken to maximise sample recovery and ensure representative nature of the samples. · Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material. | · Core sample recovery was measured, recorded onto a logging sheet, photographed and inserted in an Excel spreadsheet. · RC sample recovery was estimated by weight and recorded onto a logging sheet in an Excel spreadsheet.
|
Logging | · Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. · Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. · The total length and percentage of the relevant intersections logged. | · Core logging was performed after core fragment reconstruction in the core trays, and a line was marked along the core axis. · Geotechnical core logging was systematically done. Data collection (recovery, RQD, joint orientation, spacing, roughness and weathering) was recorded onto a log sheet and inserted in an Excel spreadsheet. · Geological core logging was systematically done. Data collection (lithology, alteration, structural data mineralisation and sampling intervals) was recorded onto a log sheet and inserted in an Excel spreadsheet. · All drill holes have been systematically logged both descriptive and stringer-coded for digital processing and output with specific software. · RC holes logging was performed. A representative subsample was taken for binocular and under UV lamp examinations. |
Sub-sampling techniques and sample preparation | · If core, whether cut or sawn and whether quarter, half or all core taken. · If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. · For all sample types, the nature, quality and appropriateness of the sample preparation technique. · Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples. · Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling. · Whether sample sizes are appropriate to the grain size of the material being sampled. | · The core was cut with a diamond saw along a line marked in the centre of the core, splitting the core into two equal halves. One half of the PQ-HQ core sample intervals was sent for analysis and the remaining half was kept in wooden core boxes for storage and future reference. · All half-core samples are sent for preparation to ALS Minerals facility in Seville (Spain). · At ALS facilities, samples were dried, crushed (80%mm) to produce a representative sub-sample for analysis. · The RC samples were dried and crushed at the mine laboratory to 80%ALS Minerals facility in Seville (Spain) to be pulverized (85%mm) to produce a representative sub-sample for analysis. · The resulting pulps are shipped to ALS Minerals laboratory in Loughrea (Ireland) for assay using the ME-MS81 method (30 elements by lithium borate fusion and ICP-MS). Samples exceeding the upper detection limit (10,000 ppm W) are re-assayed by the lithium borate fusion and XRF determination ME-XRF10 method at ALS Minerals laboratory in Vancouver (Canada). Tungsten assays are reported by ALS Minerals as W and converted to WO3 using a factor of 1.26108. · For the RC samples, assays using ME-4ACD81 method (12 elements by four acid digestion and ICP-AES) were also performed. · The following elements were included in the core samples analysis: W, Sn, Ba, Ce, Cr, Cs, Dy, Er, Eu, Ga, Gd, Hf, Ho, La, Lu, Nb, Nd, Pr, Rb, Sm, Sr, Ta, Tb, Th, Tm, U, V, Y, Yb, Zr. · The following elements were included in the RC samples analysis: W, Sn, Ba, Ce, Cr, Cs, Dy, Er, Eu, Ga, Gd, Hf, Ho, La, Lu, Nb, Nd, Pr, Rb, Sm, Sr, Ta, Tb, Th, Tm, U, V, Y, Yb, Zr, Ag, As, Cd, Co, Cu, Li, Mo, Ni, Pb, Sc, Tl, Zn. |