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W Resources Plc
Summary
| Project: | CAA/Portalegre | |
|---|---|---|
| Deposit: | Sao Martinho | |
| Location: | Portugal | |
| Commodities: | Gold | |
| Date: | 11/18/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 18-11-2016: W Resources Plc announces an Exploration/Drilling Update report for its Sao Martinho deposit at the CAA/Portalegre project. Drilling results incl. 8m @ 1.8g/t Au from 157.00m. W Resources Plc (AIM:WRES), the tungsten, copper and gold mining, p | |
| Resources: | (Resource, I+I): 3.04Mt @ 1.04g/t Au for 111987oz Au contained at Sao Martinho | |
| CP/QP: | [Overall Report]: n/a (n/a) | |
| ABSTRACT: | W Resources Plc (AIM:WRES), the tungsten, copper and gold mining, production, exploration and development company with assets in Spain and Portugal, is pleased to announce initial results of the first hole from the 1,500 metre diamond core drilling campaign that commenced in mid-September at the São Martinho Gold Deposit in Portugal. A total of nine of holes have been drilled so far and the first assay results concluded, from the first hole SMD-04, that this intersected significant gold mineralisation in 6 levels including 2m at 4.2g/t and 2m at 7.6g/t. This hole was planned to confirm the upper mineralised section from a previous high-grade intercept drilled in the early nineties by Portuglobal, and to investigate the deeper parts of the gold system which were not drilled previously. Both objectives have been fully achieved. The shallow section although narrower correlates well with that in hole POR-96-2 and a new high-grade deeper zone that may potentially increase the resource basis with additional drilling. In addition to these first assay results, visual gold has been picked up in holes SMD-10 and SMD-11. These assay results will form part of the update to upgrade the JORC compliant mineral resource estimate, completed by Golder Associates in June 2016, which currently reports a total of 3Mt at 1.04g/t gold, which equates to 111,987oz in contained gold. Michael Masterman, Chairman of W Resources commented: "The results from the first hole at São Martinho are a great start with good grades at multiple levels from the relatively shallow 4.2 g/t Au at a downhole depth of around 33m to the deeper results. The pick-up of visual gold in subsequent holes 10 and 11 together with these first results bodes well for a very successful program. Our objective is to step out and significantly expand the size of the JORC gold resource which currently sits at over 110,000 oz." | |
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