14 Jul 2015 07:00
14 July 2015
W Resources Plc
("W" or the "Company")
Environmental Approval for La Parrilla Fast Track Mine
W Resources Plc (AIM:WRES), the tungsten, copper and gold mining, exploration, development and production company with assets in Spain and Portugal, is delighted to announce that is has received environmental approval for its Fast Track Mine ('FTM') at La Parrilla tungsten mine located in Spain.
Environmental approval was granted earlier than anticipated, by the Environmental Department of the regional authority of the Junta de Extremadura, and this enables the Mining Department to proceed to issue the development approval for the FTM, which is now expected in September 2015.
Michael Masterman, Chairman of W Resources commented: "This is a major milestone for W Resources that de-risks the project and demonstrates the Government's support for the rapid development of the project. The development approval for the fast track mine will be the next key step paving the way for first mine production in 2016."
W Resources also continues to make significant progress in order to facilitate rapid project construction including: metallurgical and ore sorter test work in Germany, infill drilling and equipment testing and selection. This is in addition to progressing financing discussions with potential partners.
The findings from the pre-development work will then be fed into the La Parrilla mine development study which will be updated in Q4 2015 to incorporate the anticipated upgrade to the mineral resource estimate, mine planning and metallurgical design.
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.