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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| W Resources Plc | LSE:WRES | London | Ordinary Share | GB00BKQN5R41 | ORD 0.1P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 2.65 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Apr 2019 to Apr 2024
TIDMWRES
RNS Number : 3288U
W Resources PLC
17 January 2017
17 January 2017
W Resources Plc
("W" or the "Company")
São Martinho SMD-009 Hits 56.4m of Gold at 2.34 g/t from Surface
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/
The information contained within this announcement is considered to be inside information prior to its release.
Enquiries:
W Resources Plc Grant Thornton UK LLP Michael Masterman Colin Aaronson / Jen T: +44 (0) 20 7193 7463 Clarke / Harrison Clarke www.wresources.co.uk T: +44 (0) 20 7383 5100 SI Capital Gable Communications Andy Thacker / Nick Emerson Justine James T: +44 (0) 1483 413500 T: +44 (0) 20 7193 7463 www.sicapital.co.uk M: +44 (0) 7525 324431
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 188.05km(2) and the São Martinho area has an area of 101.7km(2). 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
Hot Features
Premium
Hole Easting Northing RL Azimuth Dip Length From To Drilled True Au
ID (m) (m) (m) width Thick-ness (g/t)
(m) (m)
(1)
======== ======== ========= ==== ======== ==== ======= ======= ======= ======== ============ =======
SMD004 621000 4341595 301 45 -45 200 15.00 16.00 1.00 1.00 0.32
======== ======== ========= ==== ======== ==== ======= ======= ======= ======== ============ =======
and 21.30 22.60 1.30 1.30 0.80
============================================================ ======= ======= ======== ============ =======
and 26.70 27.70 1.00 1.00 0.80
============================================================ ======= ======= ======== ============ =======
and 32.90 35.30 2.40 2.40 4.23
============================================================ ======= ======= ======== ============ =======
and 44.30 49.00 4.70 4.70 0.33
============================================================ ======= ======= ======== ============ =======
and 59.60 60.75 1.15 1.13 0.36
============================================================ ======= ======= ======== ============ =======
and 89.00 107.00 18.00 16.91 1.73
============================================================ ======= ======= ======== ============ =======
and 157.00 169.00 12.00 11.28 1.63
============================================================ ======= ======= ======== ============ =======
and 175.00 180.00 5.00 4.70 1.97
============================================================ ======= ======= ======== ============ =======
and 187.60 193.60 6.00 5.64 2.70
============================================================ ======= ======= ======== ============ =======
SMD005 621108 4341464 303 0 -90 140 67.00 70.57 3.57 3.35 1.31
======== ======== ========= ==== ======== ==== ======= ======= ======= ======== ============ =======
and 73.60 74.60 1.00 0.94 1.02
============================================================ ======= ======= ======== ============ =======
and 83.60 85.60 2.00 1.88 0.84
============================================================ ======= ======= ======== ============ =======
and 94.60 95.60 1.00 0.94 0.33
============================================================ ======= ======= ======== ============ =======
and 128.60 129.60 1.00 0.94 0.31
============================================================ ======= ======= ======== ============ =======
SMD006 621065 4341252 313 0 -90 116 26.00 28.00 2.00 1.99 0.90
======== ======== ========= ==== ======== ==== ======= ======= ======= ======== ============ =======
and 69.00 70.00 1.00 1.00 0.30
============================================================ ======= ======= ======== ============ =======
and 100.00 101.00 1.00 1.00 0.46
============================================================ ======= ======= ======== ============ =======
SMD007 621184 4341219 318 0 -90 130 18.00 19.00 1.00 0.91 0.36
======== ======== ========= ==== ======== ==== ======= ======= ======= ======== ============ =======
and 21.00 23.00 2.00 1.81 1.55
============================================================ ======= ======= ======== ============ =======
and 78.00 79.00 1.00 0.91 0.39
============================================================ ======= ======= ======== ============ =======
and 104.70 107.70 3.00 2.72 2.15
============================================================ ======= ======= ======== ============ =======
SMD008 622033 4340525 336 0 -90 95 6.80 9.80 3.00 3.00 0.33
======== ======== ========= ==== ======== ==== ======= ======= ======= ======== ============ =======
SMD009 622350 4340405 329 32 -60 200 2.60 59.00 56.40 51.12 2.34
======== ======== ========= ==== ======== ==== ======= ======= ======= ======== ============ =======
and 73.00 75.00 2.00 1.81 0.75
============================================================ ======= ======= ======== ============ =======
and 83.00 85.00 2.00 1.81 0.46
============================================================ ======= ======= ======== ============ =======
and 111.00 113.00 2.00 1.81 0.69
============================================================ ======= ======= ======== ============ =======
and 149.00 151.00 2.00 1.81 0.44
============================================================ ======= ======= ======== ============ =======
and 194.95 198.50 3.55 3.22 1.69
============================================================ ======= ======= ======== ============ =======
(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
JORC Code, 2012 Edition - Table 1 report
Section 1 - Sampling Techniques and Data
Criteria JORC Code explanation Commentary
============= ============================================================ ============================================================
Sampling
techniques * Nature and quality of sampling (eg cut channels, * Rock chip sampling from outcrops and trenches was
random chips, or specific specialised industry performed to determine whether a prospective precious
standard measurement tools appropriate to the metal bearing structures/alteration zones may yield
minerals under investigation, such as down hole gamma any anomalous gold/silver values and not to determine
sondes, or handheld XRF instruments, etc). These average grades.
examples should not be taken as limiting the broad
meaning of sampling.
* Samples weighing from 500 g to 1 kg were taken from
each sampling location, and its position was recorded
* Include reference to measures taken to ensure sample with a hand-held GPS.
representivity and the appropriate calibration of any
measurement tools or systems used.
* Core drilling was used to obtain core samples.
* Aspects of the determination of mineralisation that
are Material to the Public Report. * Sampled intervals included zones of visible sulphide
mineralization and alteration/veining along with
zones of gossanization. Sampling was taken also above
* In cases where 'industry standard' work has been done and below mineralization/alteration on 1- 2m
this would be relatively simple (eg 'reverse intervals when applicable.
circulation drilling was used to obtain 1 m samples
from which 3 kg was pulverised to produce a 30 g
charge for fire assay'). In other cases more * All rock samples were packed on thick plastic bags
explanation may be required, such as where there is with sample reference indicated both in the outside
coarse gold that has inherent sampling problems. and inside with permanent ink marker pens in the
Unusual commodities or mineralisation types (eg outside and inside.
submarine nodules) may warrant disclosure of detailed
information.
============= ============================================================ ============================================================
Drilling
techniques * Drill type (eg core, reverse circulation, open-hole * Drilling was undertaken with a track mounted
hammer, rotary air blast, auger, Bangka, sonic, etc) SPIDRILL-18 drill rig.
and details (eg core diameter, triple or standard
tube, depth of diamond tails, face-sampling bit or
other type, whether core is oriented and if so, by * HQ wireline core (63.5mm diam.) was recovered
what method, etc). systematically during the drilling campaign.
* All holes were located with a hand held GPS. Data for
Eastings, Northings and RL was recorded on UTM grid,
Zone 29, datum WGS84.
============= ============================================================ ============================================================
Drill
sample * Method of recording and assessing core and chip * Sample recovery was assessed visually, recorded ont
recovery sample recoveries and results assessed. o
a logging sheet, photographed and inserted in an
Excel spreadsheet.
* Measures taken to maximise sample recovery and ensure
representative nature of the samples.
* Whether a relationship exists between sample recovery
and grade and whether sample bias may have occurred
due to preferential loss/gain of fine/coarse
material.
============= ============================================================ ============================================================
Logging
* Whether core and chip samples have been geologically * Logging was performed after core fragment
and geotechnically logged to a level of detail to reconstruction in the core trays, and a line was
support appropriate Mineral Resource estimation, marked along the core axis.
mining studies and metallurgical studies.
* Geotechnical core logging was systematically done.
* Whether logging is qualitative or quantitative in Data collection (recovery, RQD, joint orientation,
nature. Core (or costean, channel, etc) photography. spacing, roughness and weathering) was recorded onto
a log sheet and inserted in an Excel spreadsheet.
* The total length and percentage of the relevant
intersections logged. * Geological core logging was systematically done. Data
collection (lithology, alteration, structural data
mineralisation and sampling intervals) was recorded
onto a log sheet and inserted in an Excel
spreadsheet.
* All drill holes have been systematically logged both
descriptive and stringer-coded for digital processing
and output with specific software.
============= ============================================================ ============================================================
Sub-sampling
techniques * If core, whether cut or sawn and whether quarter, * The core was cut with a diamond saw along a line
and sample half or all core taken. marked in the centre of the core, splitting the core
preparation into two equal halves. One half of the HQ core sample
intervals selected was sent for analysis and the
* If non-core, whether riffled, tube sampled, rotary remaining half was kept in wooden core boxes for
split, etc and whether sampled wet or dry. storage and future reference.
* For all sample types, the nature, quality and * The core samples were shipped to ALS Laboratory in
appropriateness of the sample preparation technique. Seville, Spain for assay.
* Quality control procedures adopted for all * At ALS facilities, samples were crushed (70%
sub-sampling stages to maximise representivity of
samples.
* The following elements were included in the analysis:
Ag,Al,As,Au,Ba,Be,Bi,Ca,Cd,Ce,Co,Cr,Cs,Cu,Fe, Ga,Ge,
* Measures taken to ensure that the sampling is Hf,In,In,K,La,Li,Mg,Mn,Mo,Na,Nb,Ni,P,Pb,Rb,Re,S, Sb,
representative of the in situ material collected, Sc,Se,Sn,Sr,Ta,Te,,Th,Ti,U,V,W,Y,Zn,Zr.
including for instance results for field
duplicate/second-half sampling.
* Whether sample sizes are appropriate to the grain
size of the material being sampled.
============= ============================================================ ============================================================
Quality
of assay * The nature, quality and appropriateness of the * Internal laboratory cross checking methods are
data and assaying and laboratory procedures used and whether implemented by ALS.
laboratory the technique is considered partial or total.
tests
* In addition, internationally certified standards and
* For geophysical tools, spectrometers, handheld XRF blanks were regularly introduced every 25 samples (2
instruments, etc, the parameters used in determining standards plus 1 blank).
the analysis including instrument make and model,
reading times, calibrations factors applied and their
derivation, etc. * Values returned for standards and blanks indicate
that acceptable levels of accuracy and precision have
been established.
* Nature of quality control procedures adopted (eg
standards, blanks, duplicates, external laboratory
checks) and whether acceptable levels of accuracy (ie * Assay data reported as per laboratory final reports
lack of bias) and precision have been established. and certificates
============= ============================================================ ============================================================
Verification
of sampling * The verification of significant intersections by * Verification of significant intersections by
and assaying either independent or alternative company personnel. alternative company personnel.
* Documentation of primary data, data entry procedures, * Primary logging paper sheets stored at office, data
data verification, data storage (physical and entered into Excel spreadsheets as is and coded, both
electronic) protocols. stored in the server and in an external hard drive.
* Discuss any adjustment to assay data. * All core boxes are photographed and a photo archive
is maintained within the drilling database.
============= ============================================================ ============================================================
Location
of data * Accuracy and quality of surveys used to locate drill * Hole locations survey wth hand-held GPS with 2-5m
points holes (collar and down-hole surveys), trenches, mine accuracy.
workings and other locations used in Mineral Resource
estimation.
* Grid system - UTM, Zone 29, Datum WGS84.
* Specification of the grid system used.
* Quality and adequacy of topographic control.
============= ============================================================ ============================================================
Data spacing
and * Data spacing for reporting of Exploration Results. * Completed drill holes were designed for testing
distribution different targets and have irregular spacing.
* Whether the data spacing and distribution is
sufficient to establish the degree of geological and * Data spacing and distribution are expected to be
grade continuity appropriate for the Mineral Resource sufficient to establish in parts an Inferred Mineral
and Ore Reserve estimation procedure(s) and Resources estimation.
classifications applied.
* Whether sample compositing has been applied.
============= ============================================================ ============================================================
Orientation
of data * Whether the orientation of sampling achieves unbiased * Hole orientation is in either vertical or in some
in relation sampling of possible structures and the extent to cases approximately perpendicular to the strike of
to which this is known, considering the deposit type. the mineralized zones.
geological
structure
* If the relationship between the trench orientation * The channel samples are not perpendicular to the
and the orientation of key mineralised structures is planes of the mineralized zones, therefore the
considered to have introduced a sampling bias, this intersections do not represent true widths.
should be assessed and reported if material.
============= ============================================================ ============================================================
Sample
security * The measures taken to ensure sample security. * Samples are kept labelled and organised in a locked
building.
* Industry standard practices are applied.
============= ============================================================ ============================================================
Audits
or reviews * The results of any audits or reviews of sampling
techniques and data.
============= ============================================================ ============================================================
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCLIFIRLTIDLID
(END) Dow Jones Newswires
January 17, 2017 02:00 ET (07:00 GMT)
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