W Resources (LSE:WRES) announced a significant increase in the contained tungsten within the JORC compliant mineral resource estimate at Régua in Northern Portugal.

 

The total resource tonnage increased by 22% to 5.46mt at a grade of 0.28% WO₃, up from 4.46mt, and notably the indicated resource tonnage increased by 76% to 3.76mt at 0.304% WO₃ (2012: 2.14mt @ 0.367% WO₃).

 

The updated resource model is based on thick high-grade sections of tungsten mineralisation at or near surface and will form the basis for mine planning and mine reserve estimation. The outcrop area drilled midyear has the potential for low cost high-grade open pit development.

 

The next step is now to complete the mine planning and reserve estimation process, which is targeted for the first quarter 2016. Metallurgical work has progressed well over the last quarter with good metal recoveries. A full update on the metallurgical programme and results will be provided in the next two months.

 

Michael Masterman, chair of W Resources, commented:

The drilling campaign at Régua exceeded our initial expectations and we are delighted that the work to date has resulted in this significant increase in the indicated resources at Régua. The results to date provide us with a strong basis for the next phase of mine planning as we move the project nearer to production.

Tungsten Oxide, Tungsten Powder Manufacturer & Supplier: Chinatungsten Online - www.tungsten-powder.com
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Tungsten Mining (ASX:TGN) has acquired Western Australian tungsten assets containing 15.3 million tonnes of tungsten trioxide from Hazelwood Resources (ASX:HAZ).

GWR Group (ASX:GWR), which has a 16.4% holding in Tungsten Mining, saw its shares jump 26% today to A$0.058 on the news. 

GWR will help fund the transaction by agreeing to subscribe to a convertible note with a face value of $1 million at an interest rate of 12% per annum payable quarterly in arrears. 

Consideration for the Hazelwood properties includes $1 million in cash and the issue of 5 million Tungsten Mining shares.

Specifically the deal encompasses the sale of the Mt Mulgine and Big Hill projects, which represent potential for a vertically integrated tungsten business as supply-demand dynamics for the sector continue to tighten. 

The combined inventory of the two projects equates to 88.2 million tonnes at 0.17% WO3 for more than 15.3 million tonnes of WO3. 

 

This resource equals 121,700 tonnes of contained tungsten metal. 

This would add significantly to Tungsten Mining’s existing WA portfolio, which includes the recently enlarged Kilba resources of about 5 million tonnes at 0.24WO3 for 12,129 tonnes of WO3.  

Tungsten anomalism is widespread at Mt Mulgine (350 kilometres northeast of Perth) and the project’s exciting Mulgine Trench exploration area remains open in all directions. It is considered to have potential for increasing the overall resource. 

At Big Hill in the East Pilbara region, Hazel wood reported that pilot-scale testwork has shown excellent processing characteristics producing high-quality tungsten concentrate. 

 

Completion of the sale is expected in the coming weeks. 

 

 

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The latest ferro-tungsten and ammonium paratungstate (APT) transactions, bids, offers and assessments in Europe, Vietnam and China. Blue tungsten oxide (BTO) and yellow tungsten oxide (YTO) deals are taken into consideration.

 

To view the latest price quotations: China - APT fob China Europe - APT in-warehouse Rotterdam - FeW in-warehouse Rotterdam August 28 APT - Offer at $205 per mtu fob China - Prices indicated at $200 per mtu fob China - 20 tonnes sold at $195 per mtu fob China - 3 containers sold at $190 per mtu in Europe - Offers at $193-197 per mtu in Europe - Offer at $200 per mtu in Europe - Material reportedly sold at $190 per mtu in Europe - Material reportedly sold below $195 per mtu in Europe - Offer at $190 per mtu for shipment from China FeW - Material reportedly sold at $25.80-25.90 per kg in Europe - 10 tonnes reportedly sold at $25.85 per kg in Europe - Prices indicated at $26 per kg in Europe - Small tonnage purchased at $25.80 per kg in Europe (exact quantity given) August 26 APT - Offers at $205-210 per mtu in Europe - Offer just above $195 per mtu in Europe (exact offer given)

Tungsten Oxide, Tungsten Powder Manufacturer & Supplier: Chinatungsten Online - www.tungsten-powder.com
Tel.: 86 592 5129696; Fax: 86 592 5129797
Email: sales@chinatungsten.com
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Tungsten News & Tungsten Prices, 3G Version: http://3g.chinatungsten.com
Molybdenum News & Molybdenum Price: http://news.molybdenum.com.cn