W Resources PLC S?o Martinho Drilling Programme Commences (6984M)
May 01 2018 - 2:13AM
UK Regulatory
TIDMWRES
RNS Number : 6984M
W Resources PLC
01 May 2018
1 May 2018
W Resources Plc
("W" or the "Company")
São Martinho Drilling Programme Commences
W Resources Plc (AIM:WRES), the tungsten, copper and gold,
exploration and development company with assets in Spain and
Portugal, announces that it has commenced a Reverse Circulation
("RC") drilling campaign at its São Martinho gold project in
Portugal.
The five week RC drilling programme includes 15 holes with
approximately 2,000 metres of total drilling. The objective is to
extend the resources outlined integrating the data from the 2016
diamond drilling results with the expansion expected with the
present RC campaign. This will include the seven RC holes in the
São Martinho West deposit and eight holes in São Martinho East
deposit which requires further detail drilling.
Michael Masterman, Chairman of W Resources commented: "Hot on
the heels of the completion of the Tarouca tungsten drilling
programme we are pleased to have commenced RC drilling at the São
Martinho gold deposit with the objective to substantially increase
the size of the JORC gold resource."
In June 2016, Golder Associates carried out the mineral resource
estimate and concluded that the total resource estimate is 3Mt at
1.04g/t gold, which equates to 111,987oz in contained gold.
Mineral Resources for Sao Martinho
Deposit using a 0.5g/t Au cut-off
grade within mineralised domain
(8 June 2016)
------------------------------------------
Au content
Mt Au(g/t) (oz)
------------ ----- -------- -----------
Indicated 0.48 1.03 17,363
------------ ----- -------- -----------
Inferred 2.56 1.05 94,624
------------ ----- -------- -----------
Total 3.04 1.04 111,987
------------ ----- -------- -----------
High-grade intersections include:
-- Hole POR 96-2: 14.0m at 7.52 g/t Au from 31.0m, including 2.0m at 49g/t from 31.0m
-- Hole POR 96-5: 8.0m at 6.5 g/t Au from 27.0m, which indicate
the potential for delineation of additional higher-grade zones.
Enquiries:
W Resources Plc Grant Thornton UK LLP
Michael Masterman Colin Aaronson / Harrison
T: +44 (0) 20 7193 7463 Clarke
www.wresources.co.uk T: +44 (0) 20 7383 5100
Turner Pope Investments (TPI) Gable Communications
Ltd Justine James
Andy Thacker T: +44 (0) 20 7193 7463
T: +44 (0) 203 621 4120 M: +44 (0) 7525 324431
www.turnerpope.com
About CAA / Portalegre
On 23 March 2012, W Resources' 100% owned subsidiary, Iberian
Resources Portugal, was awarded a licence for the exploration of
the "Crato-Assumar-Arronches area", adjacent to the original São
Martinho gold prospect area. Both areas are located near the town
of Portalegre (Northern Alentejo) and around 200km East of Lisbon.
The CAA area covers an area of 188.05km(2) and the São Martinho
area has an area of 101.7km(2). The expanded licence is valid until
September 2018.
Technical information in this report and on the W website has
been prepared in accordance with the JORC Code (2012) or defined by
National Instrument 43-101 and approved for inclusion by Mr José
Mario Castelo Branco, EuroGeol, who is a "qualified person" in
respect of the AIM Rules for Companies with over 35 years'
experience in the Exploration and Mining Geology industry. Mr
Castelo Branco holds a B.Sc. in Geology from the University of
Porto in Portugal. He is also a member of the Portuguese
Association of Geologists (Number 354), the European Federation of
Geologists, Member of the Prospectors and Developers of Canada, the
Society of Economic Geologists and the Society for Geology Applied
to Mineral Deposits.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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