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W Resources kicks off new resource drilling at São Martinho gold project

The new gold drilling comes "hot on the heels" of a programme at the Tarouca project and as the flagship La Parilla mine development is making rapid progress

Gold and dollars
The drill programme will measure 15 holes or 2,000 metres

W Resources PLC (LON:WRES) told investors that it has kicked off a new drill programme at the São Martinho gold project in Portugal.

The company will now carry out five weeks of reverse circulation drilling, comprising 15 holes or 2,000 metres.

WATCH: W Resources begins new resource drilling at São Martinho in Portugal

"Hot on the heels of the completion of the Tarouca tungsten drilling programme we are pleased to have commenced RC drilling at the São Martinho gold deposit with the objective to substantially increase the size of the JORC gold resource," said Michael Masterman, W Resources chairman.

The plan is to extend the gold resources previous identified with diamond drilling, in 2016.

It is planned that seven holes will be sunk in the São Martinho West deposit, while the other eight will be drilled in the São Martinho East deposit.

Presently, São Martinho hosts a total resource of 11,987 contained ounces of gold (with 17,363 ounces in the indicated resource category and 94,624 ounces in the inferred).

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AIM:WRES

Price: 6.55 GBX

Market Cap: £7.82 m

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