19 Mar 2013 09:05
19 March 2013
W Resources Plc
("W" or the "Company")
Tarouca Early Exploration Success
W Resources Plc (AIM:WRES), the tungsten and gold exploration and development company with assets in Spain and Portugal, announces exceptional results in the first phase of its Tarouca exploration programme. The 100% owned, 48 km² Tarouca exploration licence covers former tungsten and tin mines 140 km East of Porto in Portugal.
To date, results from 98 surface samples (from outcrops and old mine works) have been received, showing some extremely high grade results with heavy mineralisation, including samples TR040: 5.42% WO3 and TR041: 3.73% WO3, with 31% of the samples having a grade higher than 0.1% WO3. Over 8% of the total samples assayed more than 1% WO3 which, to put in context is 10 times the grade of W's flagship La Parrilla mine.
Overall there are three mineralised trends with their extensions yet to be determined. The next phase of the programme will consist of detailed mapping and sampling of old workings, mineral occurrences and mineralised outcrops, which will commence next quarter. With continued success in the early exploration programme we will look to drill scout holes in the second half of 2013.
Commenting on the results, Chairman, Michael Masterman said: "The initial results are extremely encouraging at Tarouca, a project which produced over 600 tonnes of concentrated ore between 1963 and 1984. We see potential to delineate a large high grade tungsten and tin deposit in this former mine in a short period of time."
Tarouca is an excellent complement to W's tungsten development portfolio at La Parrilla (tailings and mine) and Régua (new mine development). The La Parrilla tailings project is on schedule for construction to start in the next quarter with planning and contracting in advanced stages. Resource estimation is underway for the La Parrilla mine and mine development options have advanced for a staged development of the Régua deposit.
A detailed map of the Tarouca site and further information can be found on the Company's website at http://www.wresources.co.uk/projects/tarouca/
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 Tarouca
Through its 100% owned subsidiary, AIO and its fully controlled subsidiary, IRP, W Resources owns the Tarouca exploration licence which includes the former Tarouca tungsten mines and several other tungsten and/or tin deposits covering an area of 48 km² is located 400 km North of Lisbon and 140km East of Porto, in the municipality of the town of Tarouca.