28 Feb 2014 07:01
28 February 2014
W Resources Plc
("W" or the "Company")
La Parrilla Tailings Update
W Resources Plc (AIM:WRES), a tungsten and gold exploration and development company with assets in Spain and Portugal announces an update on its La Parrilla Tailings Project in southwest Spain.
All equipment is now on site and construction of the concentration plant is now complete. This is a few weeks later than planned due to a delay in the delivery of the final equipment to site, which has impacted the start of first production.
Testing and commissioning will now commence next week, targeting first tungsten production thereafter.
Chairman of W Resources, Michael Masterman commented, "Construction of the entire La Parrilla plant is now complete. We start testing and commissioning next week and look forward to first shipments.
"It has been a sterling effort by the team to get the plant complete and we have had to grapple with some final equipment delivery delays, which is of course frustrating."
Photographs illustrating the La Parrilla site can be found on the W website at http://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 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 3 km 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 36.0 million tonnes at 0.09% WO3, making it one of the largest tungsten deposits in the western world.
Annual plant feed will be c330,000 tonnes and annual production is anticipated to be 28,000 MTU Tungsten (W) and 26 tonnes Tin (Sn), which will deliver over €7million per annum in revenue at current tungsten and tin prices.
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.