W Resources PLC High Tin and Tungsten Grades at La Parrilla FTM (6583M)
October 17 2016 - 1:00AM
UK Regulatory
TIDMWRES
RNS Number : 6583M
W Resources PLC
17 October 2016
17 October 2016
W Resources Plc
("W" or the "Company")
High Tin and Tungsten Grades at La Parrilla FTM
W Resources Plc (AIM:WRES), the tungsten, copper and gold,
production, exploration and development company with assets in
Spain and Portugal, announces the next phase of results from the
reverse circulation (RC) drilling programme at the Fast Track Mine
("FTM") area of the La Parrilla Mine in Spain, which have been
assayed at the Company's new La Parrilla mine laboratory.
Highlights include:
-- Hole IRC1-43 - From surface to 40m at 0.269% tungsten
trioxide ("WO(3) ") and 0.074% tin ("Sn")
-- Hole IRC1-46 - From surface to 5m at 0.129% WO(3) and 0.161% Sn
-- Hole IRC1-47 - From surface to 14m at 0.099% WO(3) and 0.129% Sn
Hole IRC1-43 shows continuity and high grades of both tungsten
and tin from surface in areas previously categorised in the mine
plan as waste and low-grade ore.
The ratio of tin to tungsten in the FTM area is running at about
30% vs the ore body average of 11% providing the resource base for
a boost in tin production in the early years of La Parrilla.
Summary:
HOLE FROM TO INTERSECTION WO(3) Sn
(m) (m) (m) ppm ppm
IRC1-42 0.00 7.00 7.00 242 75
========== ====== ====== ============= ====== =====
IRC1-43 0.00 40.00 40.00 2699 737
========== ====== ====== ============= ====== =====
IRC1-44* 0.00 40.00 40.00 4962 1115
========== ====== ====== ============= ====== =====
IRC1-45 22.00 40.00 18.00 214 205
========== ====== ====== ============= ====== =====
IRC1-46 0.00 5.00 5.00 1290 1610
========== ====== ====== ============= ====== =====
IRC1-47 0.00 14.00 14.00 995 1299
========== ====== ====== ============= ====== =====
IRC1-47 32.00 39.00 7.00 914 360
========== ====== ====== ============= ====== =====
The assays prepared at the new La Parrilla laboratory are
non-JORC compliant, however they will shortly be sent to third
party laboratories which have JORC certification and at that point,
the fully JORC compliant results will be announced.
Following the announcement of tungsten concentrate production on
22 September 2016, the Company is pleased to announce that tin
separation using the electrostatic separator has commenced at La
Parrilla.
Michael Masterman, Chairman of W Resources commented: "These
results continue to reinforce the findings that there is a large
lateral extension of the La Parrilla orebody to the south, with
excellent grades of tungsten and tin from surface at higher grades
than the rest of of the orebody. This new data will increase
initial production grades which we are incorporating into the new
mine plan. Production start-up at La Parrilla was ahead of schedule
commencing in late September and these results continue to build on
the scale of this project.
"Tin prices have surged from $13,500 per tonne at the beginning
of 2016 to around $20,000 per tonne. The prospect of higher tin
content and continued strengthening in the tin price provides
potential for higher revenues and lower costs after by-product
credits in the early years of production."
A graphic showing the RC drill holes can be found on the 'La
Parrilla Mine' page of the Company website www.wresources.co.uk
Enquiries:
W Resources Plc Grant Thornton UK LLP
Michael Masterman Colin Aaronson / Samantha
T: +44 (0) 20 7193 7463 Harrison / Harrison Clarke
www.wresources.co.uk T: +44 (0) 20 7383 5100
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
The information contained within this RNS is considered to be
inside information, for the purposes of Article 7 of EU Regulation
596/2014, prior to its release.
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 has exceptional
infrastructure in place, which 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 mineral resource estimated by Golder in
February 2016 at 0.04% WO(3) cut-off grade is 51 million tonnes at
0.096% WO(3) and 0.108 Sn, making it one of the largest tungsten
deposits in the western world.
Technical information in this report and on the W website has
been approved for inclusion by Mr Fernando de la Fuente, is a
'qualified person' in respect of the AIM Rules for Companies with
over 41 years' experience in the Exploration and Mining Geology
industry. Mr de la Fuente holds a B.Sc. in Geology and an 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.
This information is provided by RNS
The company news service from the London Stock Exchange
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