W Resources PLC Tarouca Exploration Licence Extension Approved (2012R)
September 20 2017 - 1:00AM
UK Regulatory
TIDMWRES
RNS Number : 2012R
W Resources PLC
20 September 2017
20 September 2017
W Resources Plc
("W" or the "Company")
Tarouca Exploration Licence Extension Approved
W Resources Plc (AIM:WRES), the tungsten, copper and gold,
exploration and development company with assets in Spain and
Portugal, announces that the Portuguese Secretary of State for
Energy under the Ministry for the Economy has approved the
Company's application to extend the licence on the Tarouca project
in Portugal for a further two-year period.
The extended Tarouca licence will expire on 23 March 2019.
During the two year extension period the Company will
consolidate prior exploration programmes completed to date by
carrying out a 15 hole / 1,500m reverse circulation drilling
campaign.
In 2015, trench sampling at the Tarouca project showed
high-grade tungsten results with 15 out of 126 samples exceeding
0.5% WO(3) , including 0.8 m at 11.4% WO(3) (TTR063). Together with
the 15 holes drilled in 2014, this confirms an outstanding
exploration target in the north-eastern area of the licence.
Michael Masterman, Chairman of W Resources commented: "Whilst
the development focus is on La Parrilla in Spain and Régua in
Portugal, the drilling campaign at Tarouca will help us to further
delineate the resource with a view to increasing our overall
tungsten resource and production base. Tarouca is 20km from Re gua
and has the potential to enhance and expand the Re gua
development."
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 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
Ben Turner / James Pope T: +44 (0) 20 7193 7463
T: +44 (0) 203 621 4120 M: +44 (0) 7525 324431
www.turnerpope.com
About Tarouca
Through its 100% owned subsidiary Iberian Resources Portugal
(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 km(2) which is
located 400km North of Lisbon and 140km East of Porto, in the
municipality of the town of Tarouca. The licence was awarded to IRP
in March 2012.
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 32 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, the Society of Economic Geologists, the Society for
Geology Applied to Mineral Deposits and the Prospectors and
Developers Association of Canada.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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