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23 Jun 2014 07:00

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23 June 2014
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W Resources Plc
("W" or the "Company")
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Trial Mining Licence Awarded at RĂ©gua Tungsten Deposit in Portugal
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W Resources Plc (AIM:WRES), the tungsten, copper and gold exploration, development and production company with assets in Spain and Portugal, has been awarded a trial mining licence at its RĂ©gua tungsten deposit in Portugal by the Portuguese Ministry for the Environment, Territorial Planning and Energy.
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The formal name of the new mining licence is Villa Seca-Santo Adriao ('Villa Seca') which covers the initial mining areas in the RĂ©gua Tungsten deposit and covers an area of 4.74 sq km.
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In March 2013, Golder Associates completed a Conceptual Mine Study on the project, which is located 400km north of Lisbon and 95km east of Porto. The trial mining licence now paves the way for W to continue with its drilling programme and metallurgy testing on the project and commence initial mining.
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RĂ©gua has a JORC 2008 compliant resource of 4.46m tonnes grading 0.308% WO3. The deposit has not previously been mined and has good infrastructure and road access.
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Michael Masterman, Chairman of W Resources commented: "The RĂ©gua trial mining licence grant is a tangible milestone for the project and the Company is now well positioned to advance towards the feasibility study and initial mining and tungsten production."
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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 |
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About W
W Resources Plc (AIM:WRES) made the successful transition into a tungsten exploration, production and development company with projects in Spain and Portugal, following two acquisitions in 2012. Projects now include La Parrilla, a tungsten project in Spain and RĂ©gua and Tarouca Tungsten projects and the Portalegre copper-gold project in Portugal.
The Company's deposits and tungsten mine developments offer a low cost, high margin resource development opportunity due to a strong market following for Tungsten, increased trading and a forecast shortage of supply. The price of tungsten has more than doubled in past three years and is in the top 5 critical metals list.
The Board is focused to explore further opportunities in the region with a view to building a mid-tier minor metal producer.
The Company was incorporated in England and Wales in 2004.
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