W Resources PLC (LON:WRES) Chairman Michael Masterman caught up with DirectorsTalk to discuss the maiden gold resource at their Sao Martinho deposit
Q1: Now you’ve reported a maiden gold resource at Sao Martinho, can you tell me what this means for W Resources?
A1: Well Sao Martinho has gone fantastically since we added in the Portalegre licence in September last year, we’ve just reported a 3 million tonnes at a gram a tonne and we think this will be a 1 million ounce discovery.
Q2: What do you see as the potential for the project?
A2: There’s 2 and probably 3 high grade zones that are up and around the 10/15 grams a tonne that we think with some targeted drilling we can significantly increase in size, some steps to perhaps get some connections between those 2 zones. Gold itself has been very strong in the market of late so it’s great to have a gold deposit as part of the W Resources portfolio.
Q3: What are the next steps then for W Resources?
A3: Next step is fairly targeted drilling programme which will complete in the next 6 months and we can see from the resource modelling where some targeted drilling will both increase the size and quality of the resource and we’ll get onto that at the back end of this year.