TIDMWRES
RNS Number : 5726Q
W Resources PLC
07 June 2018
7 June 2018
W Resources Plc
("W" or the "Company")
High-grade Tungsten at Tarouca
São Martinho and Azeiteiros Update
W Resources Plc (AIM:WRES), the tungsten, copper and gold,
exploration and development company with assets in Spain and
Portugal, is pleased to report that its advanced exploration
programme in Portugal is progressing well. Very high-grade tungsten
grades have been reported at Tarouca, the gold extension Reverse
Circulation ("RC") drilling programme at São Martinho is now
complete in the CAA license and the RC drilling rig has been
mobilised to drill the large copper anomalies at Azeiteiros in the
Monforte-Tinoca property.
W Resources' 1,515 metre RC drilling campaign at its Tarouca
tungsten and tin exploration licence has identified very high
tungsten grade intersections, including 1 metre at 2.851% WO(3) in
Hole TARC011 and 3 metres at 1.165% WO(3) in hole TARCO14. Over 11
assays reported over 1% WO(3) , with the detailed results set out
in the following table:
Highlights
Hole ID Dip Depth (m) From (m) To (m) Drilled WO(3) %
width (m)
(1)
--------- ---- ---------- --------- ------- ----------- --------
TARC004 -90 50 35 36 1 0,492
--------- ---- ---------- --------- ------- ----------- --------
TARC011 -90 50 21 22 1 2,851
--------- ---- ---------- --------- ------- ----------- --------
TARC012 -90 50 38 39 1 0,479
--------- ---- ---------- --------- ------- ----------- --------
TARC013 -90 60 37 38 1 0,341
--------- ---- ---------- --------- ------- ----------- --------
TARC014 -90 75 51 54 3 1,165
--------- ---- ---------- --------- ------- ----------- --------
TARC015 -90 70 49 50 1 0,189
--------- ---- ---------- --------- ------- ----------- --------
and 64 65 1 0,139
--------- ---- ---------- --------- ------- ----------- --------
TARC021 -90 50 36 37 1 0,303
--------- ---- ---------- --------- ------- ----------- --------
(1) Intervals are reported as drilled width until true width is calculated and stated as is
The RC holes were drilled at an angle to the primary strike and
the drilling programme has enabled the team to model the tungsten
resource. The next step will be resource modelling with a view to
prepare a trial mine application later this year.
With the RC drilling campaign completed at Tarouca, the RC rig
has successfully completed 2,000 metres of drilling at the São
Martinho gold deposit in Central Portugal. Assay results for São
Martinho are expected in the September quarter.
The RC rig has now been mobilised to the Azeiteiros copper mine
and target anomalies, where a 2,000 metre RC drilling campaign will
be completed through June and July, which will cap-off a very
active advanced exploration programme across the tungsten, gold and
copper targets.
Michael Masterman, Chairman of W Resources commented: "We have
intersected some very high-grade tungsten zones at Tarouca and are
increasingly confident that this project can provide additional
high-grade feed to our Régua mine development, just 20km to the
north. The results provide greater clarity on the geological
structure and the potential to follow grade extensions. Work will
shortly commence on a resource estimate and planning for a trial
mine application.
"Our advanced tungsten, gold and copper exploration programme is
in full swing and we look forward to advancing São Martinho, the
completion of the drilling at Azeiteiros and the target copper
anomalies being identified later this year."
Enquiries:
W Resources Plc Grant Thornton UK LLP
Michael Masterman Jen Clarke / Colin Aaronson /
T: +44 (0) 20 7193 7463 Harrison Clarke
www.wresources.co.uk T: +44 (0) 20 7383 5100
Turner Pope Investments (TPI) Ltd Gable Communications
Andy Thacker Justine James
T: +44 (0) 203 621 4120 T: +44 (0) 20 7193 7463
www.turnerpope.com M: +44 (0) 7525 324431
Technical information in this report and on the W website has
been prepared in accordance with the JORC Code 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.
Annexure 1: Tarouca RC Drill Hole Collars and Results greater
than 0.05% WO(3)
Hole_ID Easting Northing RL Dip From To Drilled WO3 (%)
(m) (m) width
(m)
--------- --------- ---------- ------- ---- ----- ----- -------- --------
TARC001 27448,22 145791,16 982,05 -90 NSI
--------- --------- ---------- ------- ---- --------------------------------
TARC002 27473,85 145788,03 981,73 -90 NSI
--------- --------- ---------- ------- ---- --------------------------------
TARC003 27515,96 145783,85 981,14 -90 NSI
--------- --------- ---------- ------- ---- --------------------------------
TARC004 27534,05 145780,24 980,59 -90 35 36 1 0,492
--------- --------- ---------- ------- ---- ----- ----- -------- --------
TARC005 27447,12 145736,27 984,39 -90 NSI
--------- --------- ---------- ------- ---- --------------------------------
TARC006 27470,23 145719,34 984,22 -90 NSI
--------- --------- ---------- ------- ---- --------------------------------
TARC007 27491,49 145710,63 984,24 -90 NSI
--------- --------- ---------- ------- ---- --------------------------------
TARC008 27524,28 145701,66 984,21 -90 48 49 1 0,050
--------- --------- ---------- ------- ---- ----- ----- -------- --------
TARC009 27593,15 145786,06 978,68 -90 13 14 1 0,050
--------- --------- ---------- ------- ---- ----- ----- -------- --------
TARC010 27641,79 145759,26 982,53 -90 NSI
--------- --------- ---------- ------- ---- --------------------------------
TARC011 27660,09 145745,33 982,71 -90 21 22 1 2,851
--------- --------- ---------- ------- ---- ----- ----- -------- --------
TARC012 27685,55 145738,07 981,52 -90 38 39 1 0,479
--------- --------- ---------- ------- ---- ----- ----- -------- --------
TARC013 27697,42 145822,11 970,49 -90 37 38 1 0,341
--------- --------- ---------- ------- ---- ----- ----- -------- --------
TARC014 27720,60 145824,89 969,96 -90 50 51 1 0,088
--------- --------- ---------- ------- ---- ----- ----- -------- --------
TARC014 27720,60 145824,89 969,96 -90 51 52 1 2,738
--------- --------- ---------- ------- ---- ----- ----- -------- --------
TARC014 27720,60 145824,89 969,96 -90 52 53 1 0,631
--------- --------- ---------- ------- ---- ----- ----- -------- --------
TARC014 27720,60 145824,89 969,96 -90 53 54 1 0,126
--------- --------- ---------- ------- ---- ----- ----- -------- --------
TARC015 27878,21 145840,21 957,98 -90 49 50 1 0,189
--------- --------- ---------- ------- ---- ----- ----- -------- --------
TARC015 27878,21 145840,21 957,98 -90 64 65 1 0,139
--------- --------- ---------- ------- ---- ----- ----- -------- --------
TARC016 25993,25 144833,21 967,47 -90 NSI
--------- --------- ---------- ------- ---- --------------------------------
TARC017 25952,28 144787,14 963,95 -90 37 38 1 0,063
--------- --------- ---------- ------- ---- ----- ----- -------- --------
TARC018 26227,01 144726,55 955,81 -90 26 27 1 0,050
--------- --------- ---------- ------- ---- ----- ----- -------- --------
TARC019 27315,28 145885,42 991,71 -90 NSI
--------- --------- ---------- ------- ---- --------------------------------
TARC020 27423,70 145788,35 983,29 -90 NSI
--------- --------- ---------- ------- ---- --------------------------------
TARC021 27560,41 145785,09 979,53 -90 29 30 1 0,063
--------- --------- ---------- ------- ---- ----- ----- -------- --------
TARC021 27560,41 145785,09 979,53 -90 36 37 1 0,303
--------- --------- ---------- ------- ---- ----- ----- -------- --------
TARC022 27618,40 145767,21 982,19 -90 NSI
--------- --------- ---------- ------- ---- --------------------------------
TARC023 27672,06 145816,52 970,37 -90 45 46 1 0,088
--------- --------- ---------- ------- ---- ----- ----- -------- --------
TARC023 27672,06 145816,52 970,37 -90 46 47 1 0,076
--------- --------- ---------- ------- ---- ----- ----- -------- --------
TARC024 27907,13 145839,09 958,00 -90 NSI
--------- --------- ---------- ------- ---- --------------------------------
TARC025 27462,73 145769,71 982,87 -90 NSI
--------- --------- ---------- ------- ---- --------------------------------
TARC026 27366,50 145854,81 985,07 -90 NSI
--------- --------- ---------- ------- ---- --------------------------------
TARC027 27631,05 145803,38 973,28 -90 NSI
--------- --------- ---------- ------- ---- --------------------------------
TARC028 27651,79 145800,82 972,94 -90 NSI
--------- --------- ---------- ------- ---- --------------------------------
TARC029 27593,03 145786,58 978,66 -90 23 24 1 0,063
--------- --------- ---------- ------- ---- ----- ----- -------- --------
(2) Intervals are reported as drilled width until true width is calculated and stated as is
(3) NSI - No significant intersection (WO(3) < 0.05%)
Date: June 06, 2018
Annexure 2: TAROUCA Project
JORC Code, 2012 Edition - Table 1 report
Section 1 - Sampling Techniques and Data
Criteria JORC Code explanation Commentary
============= ============================================================ ==============================================================
Sampling
techniques * Nature and quality of sampling (eg cut channels, * W Resources (Iberian Resources Portugal) have drilled
random chips, or specific specialised industry 29 Reverse Circulation (RC) holes for 1515m. All
standard measurement tools appropriate to the results have now been reported. One metre samples
minerals under investigation, such as down hole gamma were systematically obtained from a rig-mounted
sondes, or handheld XRF instruments, etc). These cyclone splitter and sampled dry. Approximately 90%
examples should not be taken as limiting the broad of the RC chips were split to 600x900mm plastic bags
meaning of sampling. for potential re-sampling, whilst 10% was captured at
the sample port in 300x600 plastic sample bags.
* Include reference to measures taken to ensure sample
representivity and the appropriate calibration of any * Samples were split and weights were ensured to be of
measurement tools or systems used. sufficient size (2.5 to 3.5kgs) to be adequately
representative of the drilled metre, which was
verified with the use of field and lab duplicates.
* Aspects of the determination of mineralisation that
are Material to the Public Report.
* The weight of all sample bags was recorded for
allowing recovery control.
* In cases where 'industry standard' work has been done
this would be relatively simple (eg 'reverse
circulation drilling was used to obtain 1 m samples * Small portions of each 1 m sample were stored in two
from which 3 kg was pulverised to produce a 30 g chip trays after careful homogenisation, one with the
charge for fire assay'). In other cases more recovered materials and the other with washed and
explanation may be required, such as where there is sieved rock chips. These small potions were assessed
coarse gold that has inherent sampling problems. for lithology, colour, texture, mineralisation under
Unusual commodities or mineralisation types (eg a shortwave UV lamp, photographed and recorded onto a
submarine nodules) may warrant disclosure of detailed logging sheet.
information.
* The 3 kg sample bags with visually detected
mineralisation were selected to be sent to the assay
laboratory, as well as the samples for the one-metre
intervals taken immediately before and after the
mineralised ones. The samples were bagged for
shipment to the laboratory inside a second plastic
bags with the number written on the outside in
water-proof ink.
============= ============================================================ ==============================================================
Drilling
techniques * Drill type (eg core, reverse circulation, open-hole * Reverse Circulation drilling using a truck-mounted
hammer, rotary air blast, auger, Bangka, sonic, etc) SPIDRILL 260 rig (and compressor rated 33 bar,
and details (eg core diameter, triple or standard 35m3/min) was conducted by SPI. A reverse circulation
tube, depth of diamond tails, face-sampling bit or face sampling hammer with a 5.5-inch bit was
other type, whether core is oriented and if so, by utilised.
what method, etc).
* Every one metre drilled was sampled using a
rig-mounted cyclone with cone splitter.
* All drill holes were surveyed at the collar surface
by high-resolution topographic survey. Data for
Eastings, Northings and RL was recorded in
PT-TM06/ETRS89, WGS84-UTM-ZONE29N.
* All drill holes have been subject to downhole
surveying at the bottom of the hole using EZ-Trac
from Reflex Instruments to record variations from the
original inclination.
============= ============================================================ ==============================================================
Drill sample
recovery * Method of recording and assessing core and chip * Each one metre drilled interval was sampled using a
sample recoveries and results assessed. rig-mounted cyclone with cone splitter.
* Measures taken to maximise sample recovery and ensure * Samples were weighted while drilling and a field
representative nature of the samples. assessment of sample volume was estimated to be in
the range of 37 to 43 kg.
* Whether a relationship exists between sample recovery
and grade and whether sample bias may have occurred * RC drilling sample weights allowed to measure
due to preferential loss/gain of fine/coarse recovery and to ensure samples were maximised.
material.
* Recoveries were excellent, generally above 90%.
Sample recovery was recorded by the geologist as
"good" for all RC holes.
* All records were inserted in an Excel spreadsheet.
============= ============================================================ ==============================================================
Logging
* Whether core and chip samples have been geologically * RC chips sieved dry samples were logged for each
and geotechnically logged to a level of detail to meter interval then stored in RC chip trays marked
support appropriate Mineral Resource estimation, with hole IDs and depth intervals and photographed.
mining studies and metallurgical studies.
* Geological logging information included lithology,
* Whether logging is qualitative or quantitative in colour, texture, mineralisation under a shortwave UV
nature. Core (or costean, channel, etc) photography. lamp and weathering was recorded onto a logging sheet
and later transferred to an Excel spread sheet.
* The total length and percentage of the relevant
intersections logged. * All drill holes have been logged in full and logging
has been primarily qualitative.
* The rock-chip trays are stored at the IRP office in
Armamar, Portugal for future reference.
============= ============================================================ ==============================================================
Sub-sampling
techniques * If core, whether cut or sawn and whether quarter, * The RC samples were split at the rig using a cyclone
and sample half or all core taken. splitter, which is considered appropriate and
preparation industry standard. Proportion of wet samples was less
than 1%.
* If non-core, whether riffled, tube sampled, rotary
split, etc and whether sampled wet or dry.
* RC rockchip were submitted to ALS Laboratory in
Seville, Spain for assay.
* For all sample types, the nature, quality and
appropriateness of the sample preparation technique.
* At ALS facilities, samples were crushed (70%
* Quality control procedures adopted for all
sub-sampling stages to maximise representativity of * Analysis were performed using Aqua Regia digestion
samples. and combined ICP-MS and ICP-AES (ref. ME-MS41) and
lithium borate fusion with XRF finish for tungsten
(ME-XRF10).
* Measures taken to ensure that the sampling is
representative of the in situ material collected,
including for instance results for field * The following elements were included in the analysis:
duplicate/second-half sampling. Ag,Al,As,Au,B,Ba,Be,Bi,Ca,Cd,Ce,Co,Cr,Cs,Cu,Fe,Ga,Ge,
Hf,Hg,In,K,La,Li,Mg,Mn,Mo,Na,Nb,Ni,P,Pb,Rb,Re,S,Sb,Sc,
Se,Sn,Sr,Ta,Te,Th,Ti,Tl,U,V,W,Y,Zn,Zr,W.
* Whether sample sizes are appropriate to the grain
size of the material being sampled.
============= ============================================================ ==============================================================
Quality of
assay data * The nature, quality and appropriateness of the * Short wave UV light was used to identify the presence
and assaying and laboratory procedures used and whether of scheelite in the RC chip samples but was not use
laboratory the technique is considered partial or total. as a quantitative or semi-quantitative method.
tests
* For geophysical tools, spectrometers, handheld XRF * Three different grades of internationally certified
instruments, etc, the parameters used in determining standards (CDN-W1, CDN-W3, CDN-W4) for tungsten,
the analysis including instrument make and model, field duplicates (approx. 3 kg) and blanks (silica
reading times, calibrations factors applied and their sand) were introduced at every batch of 20 samples.
derivation, etc.
* Results from these samples correlated well and showed
* Nature of quality control procedures adopted (eg good precision.
standards, blanks, duplicates, external laboratory
checks) and whether acceptable levels of accuracy (ie
lack of bias) and precision have been established. * Internal laboratory cross checking methods were
implemented by ALS.
* Assay data reported as per laboratory final reports
and certificates
* Drilling sample sizes (generally 2.8 to 3.2kg) are
appropriate and industry standard size, to correctly
represent the relatively homogenous medium-grained,
scheelite-bearing mineralised skarns. As noted above
duplicates samples correlated well, therefore sample
sizes are considered to be acceptable to accurately
represent scheelite mineralisation.
============= ============================================================ ==============================================================
Verification
of sampling * The verification of significant intersections by * Verification of significant intersections was
and assaying either independent or alternative company personnel. performed by alternative company personnel.
* The use of twinned holes. * Primary logging paper sheets stored at office, data
entered into Excel spreadsheets as is both stored in
the IRP server and in an external hard drive.
* Documentation of primary data, data entry procedures,
data verification, data storage (physical and
electronic) protocols. * All RC sampling riffle boxes are photographed and a
photo archive is maintained within the drilling
database.
* Discuss any adjustment to assay data.
============= ============================================================ ==============================================================
Location
of data * Accuracy and quality of surveys used to locate drill * Drill hole collars survey by precision dGPS with GPRS
points holes (collar and down-hole surveys), trenches, mine on-line processing with 10 mm accuracy and Total
workings and other locations used in Mineral Resource Station.
estimation.
* Grid system used is PT-TM06/ETRS89,
* Specification of the grid system used. WGS84-UTM-ZONE29N.
* Quality and adequacy of topographic control. * Topographic information has been sourced from a
previous topographic survey ordered by IRP in 2014.
============= ============================================================ ==============================================================
Data spacing
and * Data spacing for reporting of Exploration Results. * Completed RC drill holes were designed for testing
distribution different targets (lensoid or cigar shaped skarns)
and have irregular spacing.
* Whether the data spacing and distribution is
sufficient to establish the degree of geological and
grade continuity appropriate for the Mineral Resource * Drill spacing between RC holes is between 20 and 40m
and Ore Reserve estimation procedure(s) and along strike and generally 30 to 40m between sections,
classifications applied. depending on site accessibility.
* Whether sample compositing has been applied. * Data distribution is sufficient to establish Mineral
Resource.
* Data spacing and distribution are not sufficient to
establish Mineral Ore Reserve estimations.
* Sample compositing has not been applied.
============= ============================================================ ==============================================================
Orientation
of data in * Whether the orientation of sampling achieves unbiased * The dip of the drill holes is not perpendicular to
relation sampling of possible structures and the extent to the true dip of the skarn bodies, so the
to which this is known, considering the deposit type. intersections do not represent true widths.
geological
structure
* If the relationship between the drilling orientation * Best estimate of mineralisation widths is 70% of the
and the orientation of key mineralised structures is published figure.
considered to have introduced a sampling bias, this
should be assessed and reported if material.
============= ============================================================ ==============================================================
Sample
security * The measures taken to ensure sample security. * RC chip samples are kept in labelled riffle boxes
while 3kg duplicate samples of each drilled meter are
stores in labelled plastic sample bags in a locked
building.
* Industry standard practices are applied.
============= ============================================================ ==============================================================
Audits or
reviews * The results of any audits or reviews of sampling * The collar and assay data were reviewed by compiling
techniques and data. the database on Excel, and importing into
three-dimensional modelling packages.
* No numbering discrepancies were identified.
* No audits or reviews of sampling techniques have been
carried out, due to the early stage nature of the
project.
============= ============================================================ ==============================================================
Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this
section.)
Criteria JORC Code explanation Commentary
=============== ============================================================== =============================================================
Mineral
tenement * Type, reference name/number, location and ownership * Exploraton license MN/PP/07/12 granted to Iberian
and land including agreements or material issues with third Resources Portugal, Recursos Minerais, Unipessoal,
tenure status parties such as joint ventures, partnerships, Lda, 100% owned by W Resources Plc.
overriding royalties, native title interests,
historical sites, wilderness or national park and
environmental settings.
* The security of the tenure held at the time of
reporting along with any known impediments to
obtaining a licence to operate in the area.
=============== ============================================================== =============================================================
* Acknowledgment and appraisal of exploration by other * Previous exploration activities in from 1928 to 1984
parties. by "The Covas do Estanho Mines Limited", "Santos &
Rodrigues, Lda." and "Minas de Tarouca, Lda."
=============== ============================================================== =============================================================
Geology
* Deposit type, geological setting and style of * Scheelite bearing skarns within impure carbonate
mineralisation. horizons of a pre-Ordovican greywaque-schist sequence,
which has been affected by contact metamorphism from
Hercynian granites.
=============== ============================================================== =============================================================
Drill hole
Information * A summary of all information material to the * See Annexure 1 for drill hole information
understanding of the exploration results including a
tabulation of the following information for all
Material drill holes:
* easting and northing of the drill hole collar
* elevation or RL (Reduced Level - elevation above sea
level in metres) of the drill hole collar
* dip and azimuth of the hole
* down hole length and interception depth
* hole length.
* If the exclusion of this information is justified on
the basis that the information is not Material and
this exclusion does not detract from the
understanding of the report, the Competent Person
should clearly explain why this is the case.
=============== ============================================================== =============================================================
Data
aggregation * In reporting Exploration Results, weighting averaging * All grades uncut
methods techniques, maximum and/or minimum grade truncations
(eg cutting of high grades) and cut-off grades are
usually Material and should be stated. * No metal equivalents used or stated
* Where aggregate intercepts incorporate short lengths
of high grade results and longer lengths of low grade
results, the procedure used for such aggregation
should be stated and some typical examples of such
aggregations should be shown in detail.
* The assumptions used for any reporting of metal
equivalent values should be clearly stated.
=============== ============================================================== =============================================================
Relationship
between * These relationships are particularly important in the * Drill intersections in the announcement are not true
mineralisation reporting of Exploration Results. widths.
widths and
intercept
lengths * If the geometry of the mineralisation with respect to
the drill hole angle is known, its nature should be
reported.
* If it is not known and only the down hole lengths are
reported, there should be a clear statement to this
effect (eg 'down hole length, true width not known').
=============== ============================================================== =============================================================
Diagrams
* Appropriate maps and sections (with scales) and * Tabulation of results included in announcement.
tabulations of intercepts should be included for any
significant discovery being reported These should
include, but not be limited to a plan view of drill
hole collar locations and appropriate sectional
views.
=============== ============================================================== =============================================================
Balanced
reporting * Where comprehensive reporting of all Exploration * All results comprehensively announced.
Results is not practicable, representative reporting
of both low and high grades and/or widths should be
practiced to avoid misleading reporting of
Exploration Results.
=============== ============================================================== =============================================================
Other
substantive * Other exploration data, if meaningful and material,
exploration should be reported including (but not limited to):
data geological observations; geophysical survey results;
geochemical survey results; bulk samples - size and
method of treatment; metallurgical test results; bulk
density, groundwater, geotechnical and rock
characteristics; potential deleterious or
contaminating substances.
=============== ============================================================== =============================================================
Further work
* The nature and scale of planned further work (eg * Further work will include geological modelling and
tests for lateral extensions or depth extensions or resource estimation.
large-scale step-out drilling).
* Diagrams clearly highlighting the areas of possible
extensions, including the main geological
interpretations and future drilling areas, provided
this information is not commercially sensitive.
=============== ============================================================== =============================================================
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END
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