1st Apr 2019 13:34
LONDON (Alliance News) - W Resources PLC on Monday announced "high-grade" intercepts during drilling at the Regua mine in northern Portugal.
W Resources has so far completed over 2,700 metres of drilling at the mine, confirmed "thick" higher grade zones close to planned mine portals. Grades include 29 metres at 0.8% tungsten trioxide and six metres at 0.4% tungsten trioxide.
Chair Michael Masterman said: "The exceptionally good drilling results at our Regua tungsten project in Portugal bode well for increases in mine feed grades and overall resource tonnages."
"The high grade zones are thicker and closer to the planned two mining portals, indicating the potential for higher run-of-mine feed grades and lower unit costs. We will now complete updated resources estimates and optimise initial mine plans," Masterman added.
Shares were 1.3% higher on Monday at a price of 0.46 pence each.
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