17th Sep 2014 08:29
LONDON (Alliance News) - W Resources PLC Wednesday said the drilling programme at the Tarouca project in Portugal has been completed, with further significant high-grade tungsten mineralisation found.
W Resources, a tungsten, copper and gold mining company, said initial evaluation of the most recent results at the site has highlighted an "outstanding" exploration target in the north east of the licence area between the TAD007 and TAD021 holes.
Across all 15 drill holes in the entire 1,500-metre diamond core drilling programme, six sample WO3 (tungsten trioxide) grades intersected in excess of 1% WO3 close to surface level, W Resources said. A further 10 samples were between 0.1% and 1% WO3.
"We already have great grades in surface sampling, and these latest results further reinforce the earlier findings with high-grade drill intersections. This exploration programme has formed a strong basis to understand the Tarouca deposit and identified thick zones of Tungsten mineralisation," said W Resources Chairman Michael Masterman.
"We will consolidate the work and results to date, and appraise the North-Eastern exploration prospect for further targeted drilling in the New Year."
Shares in W Resources were up 5.1% to 0.7250 pence on Wednesday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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