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Project: | La Parrilla | |
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Deposit: | La Parrilla FTM | |
Location: | Spain | |
Commodities: | Tungsten-Tin | |
Date: | 10/17/2016 | |
Report Code: | (no Code) | |
Report Type: | Exploration/Drilling Update | |
Project Stage: | Mine Development | |
Report details: | 17-10-2016: W Resources Plc announces an Exploration/Drilling Update report for its La Parrilla FTM deposit at the La Parrilla project. Drilling results incl. 40m @ 0.2699% WO3, 0.074% Sn. W Resources Plc (AIM:WRES), the tungsten, copper and gold, product | |
Resources: | (Resource, I+I): 51Mt @ 0.096% WO3, 108ppm Sn | |
CP/QP: | [Overall Report]: Fernando de la Fuente (Not stated) | |
ABSTRACT: | 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. 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. 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." | |
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