29 Oct 2012 07:00
29 October 2012
W Resources Plc
("W" or the "Company")
La Parrilla Tailings Project Update
W Resources (AIM:WRES), formerly Caspian Holdings plc, announces that the approval for the La Parrilla Tailings development located in southwest Spain, is progressing well. No objections were received throughout the process and a positive assessment report has been issued by the Department of Environment which has been submitted to the Mining Department of the Regional Authority of the Junta de Extremadura.
The Department of Environment is preparing the final Environmental Authorisation for the La Parrilla tailings development which the Directors hope will be issued to the Company by the end of the year.
Preparations are advanced to commence construction of the tailing processing facility in early 2013.
Enquiries:
W Resources Plc | Grant Thornton Corporate Finance - Nomad |
Michael Masterman | Gerry Beaney / Melanie Frean / Jen Clarke |
T: +44 (0) 20 7193 7463 | T: +44 (0) 20 7383 5100 |
www.wresources.co.uk | |
Simple Investments - Broker | Gable Communications |
Andy Thacker / Nick Emerson | Justine James |
T: +44 (0) 1483 413500 | T: +44 (0) 20 7193 7463 |
www.simple-investments.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 3km 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 36.0m tonnes at 0.09% WO3 making it one of the largest tungsten deposits in the western world.
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.