Proactive Investors - Run By Investors For Investors

W Resources registers big upgrade in quality at La Parrilla

W Resources plans to develop the mine at La Parrilla in two stages
W Resources registers big upgrade in quality at La Parrilla
There was a 16% rise in contained tungsten

-- adds broker comment --

W Resources (LON:WRES) has seen a significant upgrade to its tungsten resource at La Parrilla in Spain.

The new JORC estimate is 51mln tonnes (mt) at 0.096% WO3 (tungsten trioxide) and 0.108% Sn (tin), but within that 36mt or 70% is now in the higher quality indicated category compared with nothing in the 2013 estimate of 47mt.

W Resources plans to develop the mine at La Parrilla in two stages and there is now a resource of 13mt at 0.101% WO3 identified in the Fast Track Mine (FTM) area.

There was also a maiden resource of La Parrilla West of 3mt at 0.158% WO3 at 0.08% cut-off with high grade outcrops here and in the fast track area to provide ore for development in the early stages.

Overall, there was an increase of 16% in contained WO3 and 7% increase in average WO3 grade, said the explorer.

Michael Masterman, chairman, added: "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.

Broker Northland added that this was another positive update resulting in a substantial increase in the contained WO3 content.

"Importantly the area defined for the Fast Track Mine (FTM) is higher grade than the bulk of the resource improving early returns from the project. Also important is that the La Parrilla West (LPW) area is higher grade and remains open, offering further upside."

Shares eased 5% to 0.598p

Why Invest In W Resources PLC? Read More Here

Register here to be notified of future WRES Company articles
View full WRES profile

W Resources PLC Timeline

Related Articles

Mawson Resources sitting on a new gold-uranium mining camp in Finland
April 14 2016
Times may be tough in the mining industry, but that hasn’t prevented Mawson Resources Limited from getting on and doing what it does best: exploring for new gold.
Potash West NL's Patrick McManus talks near-term news in Proactive Q&A Sessions™
Patrick McManus, managing director, exclusively joins Proactive Q&A Sessions™.
November 25 2016
"Back in January nobody wanted to know anything about resources, let alone gold, and we saw an opportunity..."

© Proactive Investors 2016

Proactive Investor UK Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.