Northland Capital partners view: W Resources compilation of the historic data at the São Martinho Gold Project has confirmed the presence of three main mineralised zones; São Martinho West, São Martinho East and São Martinho South. These zones occur as a series of shallow staked lenses with significant assay results including 14m at 7.52g/t Au (POR-96-2), 20.05m at 3.32g/t Au (POR-97-15) and 26m at 2.21g/t Au (POR-96-1). W Resources acquired São Martinho at a minimal cost in Oct-15 and is now in the process of compiling a JORC compliant mineral resource estimate at the Project also at a minor cost.
São Martinho has a historic resource estimate of 328,621oz Au and a compliant mineral resource estimate at a similar level would add significant value to the Company. These latest trench results from Tarouca are high-grade and given its proximity to Régua there is clearly the potential for synergistic benefits.
From yesterday: Golder to prepare JORC mineral resource estimate | ||||||||||||||||||||||||||||||||||||||||||||||||||
n Following the systematic compilation of data at its São Martinho Gold Project, W Resources has commissioned Golder Associates to Prepare a JORC compliant mineral resource estimate on the Project. The estimate is expected to be published in H216.
n At the Tarouca Tungsten Project, W Resources has received high-grade tungsten results from its trenching programme, with 15 samples with grades over 0.5% and the highest grade intercept being 0.8m at 11.4% WO3 (TTR063). n No change to forecasts, rating or price target. |
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Source: Northland Capital Partners Limited. * Northland Capital Partners acts as Joint Broker † assumes a €16m debt finance package is secured, †† assumes a €9m debt finance package is secured
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