Commenting on the results Michael Masterman, Chairman of W Resources said: “This larger JORC Mineral Resource estimate is a very strong result for W Resources, with a substantial upgrade in the quality of the resource estimate to the indicated category, and increases in grade and tonnage across the entire resource. The strong results in the FTM area and the LPW area confirm that the deposit is open to the south, west and north and that the recently discovered high grade outcrops can be incorporated into mine feed schedules.
“Mine planning and engineering is advanced and we look forward to the upgraded development and production plan in Q2.”
W Resources Plc (AIM:WRES), the tungsten, copper and gold mining, exploration and development company with assets in Spain and Portugal, has told DirectorsTalk about a significant upgrade to its JORC compliant mineral resource estimate at its La Parrilla Project, located in Spain, following the completion of the new mineral resource estimate by Golder Associates.
Highlights
– The total resources estimate for La Parrilla has increased to 51 million tonnes (‘mt’) at 0.096% WO3(tungsten trioxide) and 0.108% Sn (tin)
– A substantial increase of 16% contained WO3 and 7% increase in average WO3 grade
– A large increase of 29% contained Sn and a 19% increase in Sn grade
– Importantly, the quality of the resource definition has also increased significantly, with an indicated resource of 36mt which equates to 70% of the total resource estimate, up from zero in the previous 2013 estimate
– Large resource of 13mt at 0.101% WO3 at 0.04% cut-off in the Fast Track Mine (‘FTM’) area including at a 800 ppm cut-off 6mt at 0.146% WO3
– Maiden resource at La Parrilla West (‘LPW’) of 3mt at 0.158% WO3 at 0.08% cut-off (LPW has the potential to significantly increase with further extension drilling)
– High grade outcrops at the FTM and at LPW provide the potential for access to high grade low cost ore in the critical early development years of the project.
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La Parrilla JORC Resource 2016 – Golder Associates |
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Overall Mineral Resources at 0.04% WO3 cut-off |
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|
2016 Estimate |
Previous 2013 Estimate |
Change |
||
|
Total Resource |
Million Tonnes |
51 mt |
47 mt |
+ 4 mt |
|
At WO3 Grade |
0.096% |
0.090% |
+ 7% |
|
|
Sn (ppm) |
108 |
91 |
||
|
Indicated Resource |
Million Tonnes |
36 mt |
zero |
+ 36 mt |
|
At WO3 Grade |
0.096% |
zero |
||
|
Sn (ppm) |
115 |
zero |
||
|
Inferred Resource |
Million Tonnes |
15 mt |
47 |
– 32 mt |
|
At WO3 Grade |
0.095% |
0.090% |
+ 6% |
|
|
Sn (ppm) |
92 |
91 |
||
|
New FTM and LPW Higher Grade Resources at 0.04% WO3 cut-off |
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|
2016 Estimate |
Previous 2013 Estimate |
Change |
||
|
FTM Indicated Resource |
Million Tonnes |
11 mt |
zero |
+ 11 mt |
|
At WO3 Grade |
0.0996% |
zero |
||
|
FTM Inferred Resource |
Million Tonnes |
2 mt |
zero |
+ 2 mt |
|
At WO3 Grade |
0.1099% |
zero |
||
|
LPW Indicated Resource |
Million Tonnes |
1 mt |
zero |
+ 1 mt |
|
At WO3 Grade |
0.216% |
zero |
||
|
LPW Inferred Resource |
Million Tonnes |
4 mt |
Zero |
+ 4 mt |
|
At WO3 Grade |
0.998% |
zero |
||
Mine optimisation of the resource has commenced and mine development plans and schedules will be completed and reported in Q2 2016.
