17 Apr 2014 09:49
17 April 2014
W Resources Plc
("W" or the "Company")
Encouraging Gold and Copper Values in Portalegre Rock Samples
W Resources Plc (AIM:WRES), a tungsten and gold exploration and development company with assets in Spain and Portugal, announces that rock sampling from its Crato Assumar Arronches (CAA) area of the Portalegre gold project in Portugal has identified a number of encouraging copper-gold surface values.
Gold grades from the sampling programme included 1.385 g/t and 0.881 g/t and indicated good surface samples of copper including 0.77% and 0.43%. Other notable metal contents are; 833 g/t Ag (silver), 2.38% Pb (lead), 1.60% Zn (zinc), 254 ppm Mo (molybdenum) and 840 ppm W (tungsten).
As a result of these very encouraging copper results, the next step of the programme is for the exploration team to widen the focus to copper and gold targets as it carries out mapping, trenching and drilling over the coming months.
New soil sampling results show a 9.5 km long target structure copper-gold anomaly from the same CAA area, with encouraging gold values up in excess of 1000 ppb. The anomaly remains open towards the southeast and northwest.
In addition, the team has identified a new copper anomaly in the southern part of the area covered by the survey. The geochemical signature and arrangement of the Au-As-Sb-W (gold / arsenic / antimony / tungsten) anomalies might suggest a Sedimentary Rock-hosted Disseminated Gold Deposit type.
Michael Masterman, Chairman of W Resources commented: "The reassessment of Portalegre / CAA as a large copper-gold prospect creates major upside for W over and above our tungsten production, development and exploration portfolio. Our priority for exploration on CAA now has a more defined focus on the 9.5 km copper-gold anomalies highlighted by the surface sampling. With cash flow from La Parrilla and strong expansion options W is looking at a great year."
A map of the sampling results showing the 9.5km long target structure at CAA can be found on the 'Portalegre' page of the company website www.wresources.co.uk
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 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
Rock samples were collected from outcrops and float and weighted between 1 and 5 kg. Location (GPS) and notes describing the site and the nature of the samples collected were recorded.
Samples were forwarded to the ALS Minerals ("ALS") laboratory in Seville, Spain. After crushing and pulverisation of the whole sample to 25% passing 75 micron mesh. A 150 g portion was riffle split and then sent to ALS in Vancouver, Canada where they were analysed for gold by fire assay with an ICP- AES finish (ALS: Au-ICP21). Forty eight other elements (Ag, Al, As, Ba, Be, Bi, Ca, Cd, Ce, Co, Cr, Cs, Cu, Fe, Ga, Ge, Hf, In, K, La, Li, Mg, Mn, Mo, Na, Nb, Ni, P, Pb, Rb, Re, S, Sb, Sc, Se, Sn, Sr, Ta, Te, Th, Ti, Tl, U, V, W, Y, Zn and Zr) were analysed by ICP-MS and ICP-AES after four acid "near-Total" digestion (ALS: ME-MS61).
Soil 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 analyzed 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 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.