W Resources Hits High Grade Drilling Intercepts at Régua Tungsten Project

W Resources says it has found new higher-grade zones at its Régua tungsten project in Northern Portugal.

So far, 2.73km of drilling has been completed at the project comprising 916m of diamond core drilling and 1,809m of reverse circulation drilling. Highlights included 29m at 0.75% WO3 and 6m at 0.43% WO3.

W Resources now plans to include these results in an updated resource estimates and mine optimisation planning.

Chairman Michael Masterman said the drilling results had been "exceptionally good" and bode well for increases in mine feed grades in the planned initial mining phase and overall resource tonnages.

The next phase will be to complete the updated resource estimates and mine optimisation planning to incorporate these new results which are expected to increase plant feed grades in the planned initial mining phase.

“The exceptionally good drilling results at our Régua tungsten project in Portugal bode well for increases in mine feed grades and overall resource tonnages,” said W Resources chairman Michael Masterman.

“The high-grade zones are thicker and closer to the planned two mining portals, indicating the potential for higher ROM feed grades and lower unit costs. We will now complete updated resources estimates and optimise initial mine plans."

The Régua tungsten deposit, which covers an area of 8sq.km, has a resource of 5.46 million tonnes grading 0.28% WO3, at a cut-off of 0.1% WO3.

The developer's shares rose 3.96% Monday to 0.47p (US0.61c), up from 0.42p/share six months ago.

• < Prev
• Next >