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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 : 0838B
W Resources PLC
18 September 2018
18 September 2018
W Resources Plc
("W" or the "Company")
High Grade Tungsten Intersections at Régua Ahead of Mine Development
Includes 29m at 0.75% WO(3)
W Resources Plc (AIM:WRES), the tungsten, copper and gold mining company with assets in Spain and Portugal, is pleased to report high-grade and wide intersections from recent Reverse Circulation ("RC") drilling at its Régua mine development in Northern Portugal.
The RC assays are significantly higher than expected including 29m @ 0.75% WO(3) from 48m in hole RGR015 on the north-western flank. Three of the reported assay results are above 1% and almost 50% of the results are greater than the average grade of the orebody.
Assay results for the first 10 drill holes out of 20 in the 1,809 metre reverse circulation drilling programme have delineated a number of high grade zones including:
Hot Features
Premium
Hole ID Dip Depth (m) From (m) To (m) Drilled WO(3) %
width (m)
(1)
RGR023 -90 190.00 99.00 103.00 4.00 0.65
==== ========== ========= ======= =========== ========
and 123.00 125.00 2.00 0.70
========= ======= =========== ========
and 127.00 128.00 1.00 0.50
========= ======= =========== ========
and 162.00 164.00 2.00 0.74
========= ======= =========== ========
and 175.00 177.00 2.00 0.54
========= ======= =========== ========
RGR021 -90 160.00 87.00 89.00 2.00 0.66
==== ========== ========= ======= =========== ========
and 93.00 97.00 4.00 0.58
========= ======= =========== ========
including 94.00 96.00 2.00 1.00
========= ======= =========== ========
RGR020 -90 140.00 74.00 77.00 3.00 0.71
==== ========== ========= ======= =========== ========
and 86.00 87.00 1.00 0.62
========= ======= =========== ========
and 89.00 91.00 2.00 0.65
========= ======= =========== ========
and 93.00 97.00 4.00 0.90
========= ======= =========== ========
including 93.00 96.00 3.00 1.19
========= ======= =========== ========
RGR016 -90 104.00 4.00 5.00 1.00 1.00
==== ========== ========= ======= =========== ========
and 59.00 61.00 2.00 0.74
========= ======= =========== ========
RGR015 -90 100.00 41.00 45.00 4.00 0.50
==== ========== ========= ======= =========== ========
including 43.00 44.00 1.00 1.06
========= ======= =========== ========
and 48.00 77.00 29.00 0.75
========= ======= =========== ========
including 50.00 55.00 5.00 0.78
========= ======= =========== ========
plus 58.00 76.00 18.00 0.93
========= ======= =========== ========
Michael Masterman, Chairman of W Resources, commented: "These are exceptional results in the north-western part of the Régua orebody and it is great to receive them in the lead up to the trial mine development. The orebody remains open at depth and in all directions, specifically the zones to the northwest are indicating significant width and grade and are highly prospective for mine extension drilling. Preliminary works including this drilling programme are advancing.
"Development planning for Régua continues based on low-cost underground mining using adits (horizontal tunnels), trucking ore to a nearby existing crusher, and mobilisation of the existing La Parrilla concentrator to Régua, following new large scale La Parrilla concentrator start up."
At La Parrilla, W has recently been running its existing older concentrator for production of tungsten and tin. The plant is currently being modified to allow pilot runs and testing of the upgraded large scale concentrator plant circuit to greatly assist in commissioning and ramp-up of the new large scale concentrator plant. At this stage no tungsten concentrate shipments have been made and this is something the Company will review and update the market on once the testing phases have been completed.
Enquiries:
W Resources Plc Grant Thornton UK LLP
Michael Masterman Colin Aaronson / Jen Clarke
/ Seamus Fricker
T: +44 (0) 20 7193 7463 T: +44 (0) 20 7383 5100
www.wresources.co.uk
Turner Pope Investments (TPI) Ltd Gable Communications
Andy Thacker Justine James
T: +44 (0) 203 621 4120 T: +44 (0) 20 7193 7463
www.turnerpope.com M: +44 (0) 7525 324431
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
About Régua
W Resources Plc (AIM:WRES) owns a permit for the exploration of the Régua tungsten deposit located 400km North of Lisbon and 95km East of Porto in the municipality of the town of Armamar. The Company was awarded a trial mining licence by the Portuguese Ministry for the Environment, Territorial Planning and Energy in June 2014.
Régua tungsten deposit has a resource of 5.46 million tonnes grading 0.28% WO(3) , at a cut-off of 0.1% WO(3) , covering an area of 8km(2). The deposit has not been previously mined and is located close to infrastructure with good road access.
Technical information 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 35 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: Regua (Vila Seca-Santo Adrião) Reverse Circulation Hole Collars and Results (results received to date)
Hole Easting Northing RL Azimuth Dip Depth From To Drilled WO(3)
ID (m) (m) (m) width %
(m)
(1)
RGR023 40322.33 162701.99 331.49 0 -90 190.00 73.00 76.00 3.00 0.26
======== ========= ========== ========== ======== ==== ======= ======= ======= ======== ======
and 92.00 94.00 2.00 0.09
==================================================================== ======= ======= ======== ======
and 99.00 106.00 7.00 0.42
==================================================================== ======= ======= ======== ======
including 99.00 103.00 4.00 0.65
==================================================================== ======= ======= ======== ======
and 120.00 129.00 9.00 0.30
==================================================================== ======= ======= ======== ======
including 123.00 125.00 2.00 0.70
==================================================================== ======= ======= ======== ======
plus 127.00 128.00 1.00 0.50
==================================================================== ======= ======= ======== ======
and 161.00 168.00 7.00 0.31
==================================================================== ======= ======= ======== ======
including 162.00 164.00 2.00 0.74
==================================================================== ======= ======= ======== ======
and 175.00 177.00 2.00 0.54
==================================================================== ======= ======= ======== ======
RGR021 40464.99 162626.28 322.25 0 -90 160.00 36.00 39.00 3.00 0.31
======== ========= ========== ========== ======== ==== ======= ======= ======= ======== ======
and 43.00 44.00 1.00 0.05
==================================================================== ======= ======= ======== ======
and 51.00 52.00 1.00 0.09
==================================================================== ======= ======= ======== ======
and 86.00 90.00 4.00 0.41
==================================================================== ======= ======= ======== ======
including 87.00 89.00 2.00 0.66
==================================================================== ======= ======= ======== ======
and 93.00 97.00 4.00 0.58
==================================================================== ======= ======= ======== ======
including 94.00 96.00 2.00 1.00
==================================================================== ======= ======= ======== ======
and 101.00 104.00 3.00 0.14
==================================================================== ======= ======= ======== ======
and 106.00 109.00 3.00 0.05
==================================================================== ======= ======= ======== ======
RGR020 40463.12 162604.26 319.90 0 -90 140.00 21.00 24.00 3.00 0.27
========= ========== ========== ======== ==== ======= ======= ======= ======== ======
and 48.00 52.00 4.00 0.30
======= ======= ======== ======
and 71.00 77.00 6.00 0.43
======= ======= ======== ======
including 74.00 77.00 3.00 0.71
======= ======= ======== ======
and 79.00 91.00 12.00 0.26
======= ======= ======== ======
including 86.00 87.00 1.00 0.62
======= ======= ======== ======
plus 89.00 91.00 2.00 0.65
======= ======= ======== ======
and 93.00 97.00 4.00 0.90
======= ======= ======== ======
including 93.00 96.00 3.00 1.19
======= ======= ======== ======
RGR019 40518.32 162651.32 296.09 133 -75 140.00 56.00 57.00 1.00 0.05
========= ========== ========== ======== ==== ======= ======= ======= ======== ======
and 71.00 72.00 1.00 0.05
======= ======= ======== ======
RGR018 40510.19 162633.63 296.81 0 -90 120.00 19.00 23.00 4.00 0.29
========= ========== ========== ======== ==== ======= ======= ======= ======== ======
including 20.00 22.00 2.00 0.44
======= ======= ======== ======
and 51.00 53.00 2.00 0.35
======= ======= ======== ======
RGR017 40499.86 162613.43 298.19 0 -90 110.00 4.00 7.00 3.00 0.16
========= ========== ========== ======== ==== ======= ======= ======= ======== ======
and 21.00 22.00 1.00 0.33
======= ======= ======== ======
and 34.00 35.00 1.00 0.15
======= ======= ======== ======
and 74.00 75.00 1.00 0.05
======= ======= ======== ======
RGR016 40483.50 162600.46 307.24 0 -90 104.00 3.00 6.00 3.00 0.40
========= ========== ========== ======== ==== ======= ======= ======= ======== ======
including 4.00 5.00 1.00 1.00
======= ======= ======== ======
and 21.00 22.00 1.00 0.08
======= ======= ======== ======
and 54.00 56.00 2.00 0.09
======= ======= ======== ======
and 58.00 62.00 4.00 0.44
======= ======= ======== ======
including 59.00 61.00 2.00 0.74
======= ======= ======== ======
and 68.00 69.00 1.00 0.11
======= ======= ======== ======
and 72.00 76.00 4.00 0.18
======= ======= ======== ======
RGR015 40480.04 162584.02 307.90 0 -90 100.00 7.00 8.00 1.00 0.14
========= ========== ========== ======== ==== ======= ======= ======= ======== ======
and 21.00 24.00 3.00 0.33
======= ======= ======== ======
and 29.00 30.00 1.00 0.05
======= ======= ======== ======
and 41.00 45.00 4.00 0.50
======= ======= ======== ======
including 43.00 44.00 1.00 1.06
======= ======= ======== ======
and 48.00 77.00 29.00 0.75
======= ======= ======== ======
including 50.00 55.00 5.00 0.78
======= ======= ======== ======
plus 58.00 76.00 18.00 0.93
======= ======= ======== ======
RGR014 40543.56 162647.23 280.88 0 -90 100.00 20.00 21.00 1.00 0.06
======== ========= ========== ========== ======== ==== ======= ======= ======= ======== ======
and 26.00 27.00 1.00 0.05
======== ========= ========== ========== ======== ==== ======= ======= ======= ======== ======
and 53.00 58.00 5.00 0.19
======== ========= ========== ========== ======== ==== ======= ======= ======= ======== ======
including 55.00 57.00 2.00 0.33
======== ========= ========== ========== ======== ==== ======= ======= ======= ======== ======
RGR011 40552.66 162662.63 279.18 0 -90 100.00 28.00 29.00 1.00 0.11
======== ========= ========== ========== ======== ==== ======= ======= ======= ======== ======
and 32.00 33.00 1.00 0.15
======== ========= ========== ========== ======== ==== ======= ======= ======= ======== ======
and 61.00 63.00 2.00 0.21
======== ========= ========== ========== ======== ==== ======= ======= ======= ======== ======
(1) Intervals are reported as drilled width until true width is calculated and stated as is
(2) Maximum dilution between mineralised intervals: 1m
(3) Cut-off grade: 0.05% WO(3)
Annexure 2: Régua Project
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 (e.g. cut channels, * W Resources (Iberian Resources Portugal) have drilled
random chips, or specific specialised industry 20 Reverse Circulation (RC) holes for 1809m. Results
standard measurement tools appropriate to the from 10 holes are now been reported. One metre
minerals under investigation, such as down hole gamma samples were systematically obtained from a
sondes, or handheld XRF instruments, etc.). These rig-mounted cyclone splitter and sampled dry.
examples should not be taken as limiting the broad Approximately 90% of the RC chips were split to
meaning of sampling. 600x900mm plastic bags for potential re-sampling,
whilst 10% were captured at the sample port in
300x600m plastic sample bags.
* Include reference to measures taken to ensure sample
representivity and the appropriate calibration of any
measurement tools or systems used. * Samples were split and weights were ensured to be of
sufficient size (2.5 to 3.5kgs) to be adequately
representative of the drilled metre, which was
* Aspects of the determination of mineralisation that verified with the use of field and lab duplicates.
are Material to the Public Report.
* The weight of all sample bags was recorded for
* In cases where 'industry standard' work has been done allowing recovery control.
this would be relatively simple (e.g. 'reverse
circulation drilling was used to obtain 1 m samples
from which 3 kg was pulverised to produce a 30 g * Small portions of each 1 m sample were stored in two
charge for fire assay'). In other cases more chip trays after careful homogenisation, one with the
explanation may be required, such as where there is recovered materials and the other with washed and
coarse gold that has inherent sampling problems. sieved rock chips. These small potions were assessed
Unusual commodities or mineralisation types (e.g. for lithology, colour, texture, mineralisation under
submarine nodules) may warrant disclosure of detailed a shortwave UV lamp, photographed and recorded onto a
information. logging sheet.
* The 3kg sample bags with visually detected
mineralisation were selected to be sent to the assay
laboratory, as well as the samples for the one-metre
intervals taken immediately before and immediately
after the mineralised ones. The samples were bagged
for shipment to the laboratory inside a second
plastic bag numbered on the outside with water-proof
ink.
============================================================ ============================================================
Drilling
techniques * Drill type (eg core, reverse circulation, open-hole * Reverse Circulation drilling using a truck-mounted
hammer, rotary air blast, auger, Bangka, sonic, etc) SPIDRILL 260 rig (and compressor rated 33 bar,
and details (eg core diameter, triple or standard 35m3/min) was conducted by SPI. A reverse circulation
tube, depth of diamond tails, face-sampling bit or face sampling hammer with a 5.5-inch bit was
other type, whether core is oriented and if so, by utilised.
what method, etc).
* Every one metre drilled was sampled using a
rig-mounted cyclone with cone splitter.
* All drill holes were surveyed at the collar surface
by high-resolution topographic survey. Data for
Eastings, Northings and RL was recorded in
PT-TM06/ETRS89, WGS84-UTM-ZONE29N.
* All drill holes have been subject to downhole
surveying at the bottom of the hole using EZ-Trac
from Reflex Instruments to record variations from the
original inclination.
============================================================ ============================================================
Drill sample
recovery * Method of recording and assessing core and chip * Down hole sampling was carried out on one metre
sample recoveries and results assessed. drilled interval using a rig-mounted cyclone with
cone splitter.
* Measures taken to maximise sample recovery and ensure
representative nature of the samples. * Samples were weighted while drilling and a field
assessment of sample volume was estimated to be in
the range of 37 to 43kg per metre.
* Whether a relationship exists between sample recovery
and grade and whether sample bias may have occurred
due to preferential loss/gain of fine/coarse * RC drilling sample weights allowed to measure
material. recovery and to ensure samples were maximised.
* Recoveries were excellent, generally above 90%.
Sample recoveries were recorded by the geologist as
"good" for all RC holes.
* All records were inserted in an Excel spreadsheet.
============================================================ ============================================================
Logging
* Whether core and chip samples have been geologically * Dry and sieved RC chip samples were logged for each
and geotechnically logged to a level of detail to meter interval then stored in RC chip trays marked
support appropriate Mineral Resource estimation, with hole IDs plus depth intervals and photographed.
mining studies and metallurgical studies.
* Geological logging information included lithology,
* Whether logging is qualitative or quantitative in colour, texture, mineralisation under a shortwave UV
nature. Core (or costean, channel, etc) photography. lamp and weathering. Data was recorded onto a logging
sheet and later transferred to an Excel spread sheet.
* The total length and percentage of the relevant
intersections logged. * All drill holes have been logged in full and logging
has been primarily qualitative.
* The rock-chip trays are stored at the IRP office in
Armamar, Portugal for future reference.
============================================================ ============================================================
Sub-sampling
techniques * If core, whether cut or sawn and whether quarter, * The RC samples were split at the rig using a cyclone
and sample half or all core taken. splitter, which is considered appropriate and
preparation industry standard. Proportion of wet samples was less
than 1%.
* If non-core, whether riffled, tube sampled, rotary
split, etc and whether sampled wet or dry.
* RC rockchip were submitted to ALS Laboratory in
Seville, Spain for assay.
* For all sample types, the nature, quality and
appropriateness of the sample preparation technique.
* At ALS facilities, samples were crushed (70%
* Quality control procedures adopted for all
sub-sampling stages to maximise representativity of * Analysis were performed using Aqua Regia digestion
samples. and combined ICP-MS and ICP-AES (ref. ME-MS41) and
lithium borate fusion with XRF finish for tungsten
(ME-XRF10).
* Measures taken to ensure that the sampling is
representative of the in situ material collected,
including for instance results for field * The following elements were included in the analysis:
duplicate/second-half sampling. Ag,Al,As,Au,B,Ba,Be,Bi,Ca,Cd,Ce,Co,Cr,Cs,Cu,Fe,Ga,Ge,
Hf,Hg,In,K,La,Li,Mg,Mn,Mo,Na,Nb,Ni,P,Pb,Rb,Re,S,Sb,Sc
,
* Whether sample sizes are appropriate to the grain Se,Sn,Sr,Ta,Te,Th,Ti,Tl,U,V,W,Y,Zn,Zr,W.
size of the material being sampled.
============================================================ ============================================================
Quality of
assay data * The nature, quality and appropriateness of the * Short wave UV light was used to identify the presence
and assaying and laboratory procedures used and whether of scheelite in the RC chip samples but was not use
laboratory the technique is considered partial or total. as a quantitative or semi-quantitative method.
tests
* For geophysical tools, spectrometers, handheld XRF * Three different grades of internationally certified
instruments, etc, the parameters used in determining standards (CDN-W1, CDN-W3, CDN-W4) for tungsten,
the analysis including instrument make and model, field duplicates (approx. 3 kg) and blanks (silica
reading times, calibrations factors applied and their sand) were introduced at every batch of 20 samples.
derivation, etc.
* Results from these samples correlated well and showed
* Nature of quality control procedures adopted (eg good precision.
standards, blanks, duplicates, external laboratory
checks) and whether acceptable levels of accuracy (ie
lack of bias) and precision have been established. * Internal laboratory cross checking methods were
implemented by ALS.
* Assay data reported as per laboratory final reports
and certificates
* Drilling sample sizes (generally 2.8 to 3.2kg) are
appropriate and industry standard size, to correctly
represent the relatively homogenous medium-grained,
scheelite-bearing mineralised skarns. As noted above
duplicates samples correlated well, therefore sample
sizes are considered to be acceptable to accurately
represent scheelite mineralisation.
============================================================ ============================================================
Verification
of sampling * The verification of significant intersections by * Verification of significant intersections was
and assaying either independent or alternative company personnel. performed by alternative company personnel.
* The use of twinned holes. * Primary logging paper sheets stored at office, data
entered into Excel spreadsheets as is both stored in
the IRP server and in an external hard drive.
* Documentation of primary data, data entry procedures,
data verification, data storage (physical and
electronic) protocols. * All RC sampling riffle boxes are photographed and a
photo archive is maintained within the drilling
database.
* Discuss any adjustment to assay data.
============================================================ ============================================================
Location
of data * Accuracy and quality of surveys used to locate drill * Drill hole collars were surveyed by precision dGPS
points holes (collar and down-hole surveys), trenches, mine with GPRS on-line processing with 10 mm accuracy.
workings and other locations used in Mineral Resource
estimation.
* Grid system used is PT-TM06/ETRS89,
WGS84-UTM-ZONE29N.
* Specification of the grid system used.
* Topographic information has been sourced from a
* Quality and adequacy of topographic control. previous topographic survey ordered by IRP in 2014.
============================================================ ============================================================
Data spacing
and * Data spacing for reporting of Exploration Results. * Completed RC drill holes were designed for two
distribution purposes: 490m from 3 exploratory holes and 1319m for
testing the trial mine panel to stope.
* Whether the data spacing and distribution is
sufficient to establish the degree of geological and
grade continuity appropriate for the Mineral Resource * Drill spacing between RC holes is between 20 and 40m
and Ore Reserve estimation procedure(s) and depending on site accessibility.
classifications applied.
* Data distribution is sufficient to complete existing
* Whether sample compositing has been applied. Mineral Resource.
* Data spacing and distribution are not sufficient to
establish Mineral Ore Reserve estimations.
* Sample compositing has not been applied.
============================================================ ============================================================
Orientation
of data in * Whether the orientation of sampling achieves unbiased * The dip of the drill holes is not perpendicular to
relation sampling of possible structures and the extent to the true dip of the skarn bodies, so the
to which this is known, considering the deposit type. intersections do not represent true widths.
geological
structure
* If the relationship between the drilling orientation * Best estimate of mineralisation widths is 70% of the
and the orientation of key mineralised structures is published figure.
considered to have introduced a sampling bias, this
should be assessed and reported if material.
============================================================ ============================================================
Sample
security * The measures taken to ensure sample security. * RC chip samples are kept in labelled riffle boxes
while 3kg duplicate samples of each drilled meter are
stored in labelled plastic sample bags in a locked
building.
* Industry standard practices are applied.
============================================================ ============================================================
Audits or
reviews * The results of any audits or reviews of sampling * The collar and assay data were reviewed by compiling
techniques and data. the database on Excel, and importing into
three-dimensional modelling packages.
* No numbering discrepancies were identified.
* All information was internally audited by experienced
geologists.
* A senior geologist with more than 30 years of
practice supervise all processes.
============================================================ ============================================================
Section 2 - Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section.)
Criteria JORC Code explanation Commentary
Mineral
tenement * Type, reference name/number, location and ownership * All work was performed inside the Trial Mnining
and land including agreements or material issues with third license CE-142 "Vila Seca- Santo Adrião",
tenure status parties such as joint ventures, partnerships, granted to Iberian Resources Portugal, Recursos
overriding royalties, native title interests, Minerais, Unipessoal, Lda, 100% owned by W Resources
historical sites, wilderness or national park and Plc on 20 June 2014.
environmental settings.
* The security of the tenure held at the time of
reporting along with any known impediments to
obtaining a licence to operate in the area.
============================================================== =============================================================
* Acknowledgment and appraisal of exploration by other * Previous exploration activities in 1980's by "Minas
parties. de Santa Leucádia, Lda" and "Rio Tinto Finance
and Exploration, Ldt."(Riofinex).
============================================================== =============================================================
Geology
* Deposit type, geological setting and style of * Scheelite bearing skarns within impure carbonate
mineralisation. horizons of a pre-Ordovican greywaque-schist sequence,
which has been affected by contact metamorphism from
Hercynian granites.
============================================================== =============================================================
Drill hole
Information * A summary of all information material to the * See Annexure 1 for drill hole information
understanding of the exploration results including a
tabulation of the following information for all
Material drill holes:
* easting and northing of the drill hole collar
* elevation or RL (Reduced Level - elevation above sea
level in metres) of the drill hole collar
* dip and azimuth of the hole
* down hole length and interception depth
* hole length.
* If the exclusion of this information is justified on
the basis that the information is not Material and
this exclusion does not detract from the
understanding of the report, the Competent Person
should clearly explain why this is the case.
============================================================== =============================================================
Data
aggregation * In reporting Exploration Results, weighting averaging * Reported intercepts are weighted using a 0.05% WO(3)
methods techniques, maximum and/or minimum grade truncations cut off grade with no more than one metre of internal
(eg cutting of high grades) and cut-off grades are dilution
usually Material and should be stated.
* No metal equivalents used or stated
* Where aggregate intercepts incorporate short lengths
of high grade results and longer lengths of low grade
results, the procedure used for such aggregation
should be stated and some typical examples of such
aggregations should be shown in detail.
* The assumptions used for any reporting of metal
equivalent values should be clearly stated.
============================================================== =============================================================
Relationship
between * These relationships are particularly important in the * Drill intersections in the announcement are reported
mineralisation reporting of Exploration Results. as down hole intercepts not true widths.
widths and
intercept
lengths * If the geometry of the mineralisation with respect to
the drill hole angle is known, its nature should be
reported.
* If it is not known and only the down hole lengths are
reported, there should be a clear statement to this
effect (eg 'down hole length, true width not known').
============================================================== =============================================================
Diagrams
* Appropriate maps and sections (with scales) and * Tabulation of results included in the body of the
tabulations of intercepts should be included for any announcement are a selection of high grade intercepts,
significant discovery being reported These should above 0.5% WO(3) .
include, but not be limited to a plan view of drill
hole collar locations and appropriate sectional
views.
============================================================== =============================================================
Balanced
reporting * Where comprehensive reporting of all Exploration * All results comprehensively announced.
Results is not practicable, representative reporting
of both low and high grades and/or widths should be
practiced to avoid misleading reporting of
Exploration Results.
============================================================== =============================================================
Other
substantive * Other exploration data, if meaningful and material,
exploration should be reported including (but not limited to):
data geological observations; geophysical survey results;
geochemical survey results; bulk samples - size and
method of treatment; metallurgical test results; bulk
density, groundwater, geotechnical and rock
characteristics; potential deleterious or
contaminating substances.
============================================================== =============================================================
Further work
* The nature and scale of planned further work (eg * Further work will include the results of the pending
tests for lateral extensions or depth extensions or assays from 10 RC holes and a diamond core drilling
large-scale step-out drilling). campaign.
* Diagrams clearly highlighting the areas of possible
extensions, including the main geological
interpretations and future drilling areas, provided
this information is not commercially sensitive.
============================================================== =============================================================
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
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