1 Sep 2016 07:00
1 September 2016
W Resources Plc
("W" or the "Company")
High Tungsten and Tin Grades from La Parrilla FTM South
W Resources Plc (AIM:WRES), the tungsten, copper and gold, exploration and development company with assets in Spain and Portugal, is pleased to announce results of the first two holes from the RC drilling programme completed in July 2016, which have been assayed at the new La Parrilla mine laboratory.
Hole IRC1-44 located 25m to the south of high-grade Hole IRC1-40 has reported assay results of 40m at 0.496% WO3 and 0.112% Sn while Hole IRC1-41 has reported 11m at 0.126% WO3 and 0.02% Sn.
Hole IRC1-44 shows continuity and very high grades of both Tungsten and Tin from surface in areas previously categorised in the mine plan as waste.
Michael Masterman, Chairman of W Resources commented: "It is clear from these initial results that there is a large lateral extension of the La Parrilla orebody to the south. Hole IRC1-44 following on the heels of Hole IRC1-40 drilled in 2015 has exceptional grades of tungsten and tin from surface at over 4 times the grade of the orebody. We expect that incorporation of this new data in the mine plan will increase initial production grades, reduce stripping ratios, and reduce unit operating costs. We have a zone of significantly higher grade mineralisation accessible at surface which should underpin a successful start-up of the La Parrilla mine."
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 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 |
The information contained within this RNS is considered to be inside information, for the purposes of Article 7 of EU Regulation 596/2014, prior to its release.
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 mineral resource estimated by Golder in February 2016 at 0.04% WO3 cut-off grade is 51 million tonnes at 0.096% WO3 and 0.108 Sn, making it one of the largest tungsten deposits in the western world.
The assays prepared at the new La Parrilla laboratory are non-JORC compliant, however they will shortly be sent to third party laboratories which have JORC certification and at that point, the fully JORC compliant results will be announced. Technical information in this report and on the W website has been approved for inclusion by Mr Fernando de la Fuente, is a 'qualified person' in respect of the AIM Rules for Companies with over 41 years' experience in the Exploration and Mining Geology industry. Mr de la Fuente holds a B.Sc. in Geology and an 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.