17Jan 2017

W Resources PLC (LON:WRES) São Martinho SMD-009 Hits 56.4m of Gold at 2.34 g/t from Surface

 

 

Share Talk will contact W Resources Plc today to see if Michael Masterman, Chairman will give a interview.

W Resources Plc (AIM:WRES), the tungsten, copper and gold mining, production, exploration and development company with assets in Spain and Portugal, is pleased to announce some exceptional results at its São Martinho Gold project in Portugal. 

SMD-009 results have confirmed a very thick gold intersection of 56.4m at 2.34 grams per tonne (g/t) from the very shallow depth of 2.6m. The thickness of the intersection bodes well for an increase in the size of the ore deposit and the potential to mine ore at low cost given the shallow nature of the zone.  

New results from Holes 5-9 and an upgrade from further sampling of Hole 4 have yielded very positive results:

·      SMD-009 was the highlight with a wide zone of 55.6m at 2.34g/t from 2.5m with an additional deeper zone of 3.55m at 1.69g/t Au from 194.95m identified

·      Infill sampling of hole SMD-004 significantly improved the results with thicker intersections

·      Hole SMD-007 reported two gold bearing zones with a shallow zone at 18-20m and a deeper zone at 104m

In addition to these first assay results visual gold has been picked up in holes SMD-010 and SMD-011.

Michael Masterman, Chairman of W Resources commented: “São Martinho SMD-009 is a very positive result with a very thick intersection of over 55m of gold at 2.34g/t.  The result provides a solid base to drive extension drilling with the potential for materially larger resource. We are very pleased with the results from this drilling programme.”

Further results from this diamond core programme at São Martinho will be progressively released as the assay results come through.

Please click to view São Martinho drill hole map and photo of visible gold – http://wresources.co.uk/caa-portalegre/

About CAA / Portalegre

On 23 March 2012, W Resources’ 100% owned subsidiary, Iberian Resources Portugal, was awarded a licence for the exploration of the “Crato-Assumar-Arronches area”, adjacent to the original São Martinho gold prospect area. Both areas are located near the town of Portalegre (Northern Alentejo) and around 200km East of Lisbon. The CAA area covers an area of 188.05km² and the São Martinho area has an area of 101.7km². The expanded licence is valid until September 2018.

Technical information in this report and on the W website has been prepared in accordance with the JORC Code or defined by National Instrument 43-101 and approved for inclusion by Mr José Mario Castelo Branco, EuroGeol, who is a “qualified person” in respect of the AIM Rules for Companies with over 32 years’ experience in the Exploration and Mining Geology industry. Mr Castelo Branco holds a B.Sc. in Geology from the University of Porto in Portugal. He is also a member of the Portuguese Association of Geologists (Number 354), the European Federation of Geologists, the Society of Economic Geologists, the Society for Geology Applied to Mineral Deposits and the Prospectors and Developers Association of Canada.

Annexure 1: CAA PROJECT (São Martinho deposit). Drill Hole Collars and Results

http://wresources.co.uk/wp-content/uploads/2017/01/20170117-WRES-S%C3%A3o-Martinho-SMD-009-Hits-56-4m-of-Gold-at-2-34-gt-from-Surface.pdf  

(1)     Intervals are reported as weighted averages of smaller core sample sections (minimum 1m)                                   

(2)     True widths are calculated based upon the interpreted dips for the geological model used in Golder’s previous resource estimation                                                                                                                 

This information is provided by RNS

The company news service from the London Stock Exchange

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