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W Resources kicks off La Parrilla project with a blast

Last updated: 19:26 27 Jul 2016 AEST, First published: 16:26 27 Jul 2016 AEST

blast
It's a blast! The explosives at work at Parrilla

Tungsten miner W Resources PLC (LON:WRES) kicked off its La Parrilla ambitions in Spain with a blast literally yesterday - opening up accessible ore to be mined.

The firm used explosives to open up the first 10 metre benches in what's called the Fast Track Mine (FTM) part of the project.

Now the firm will complete grade control assays and mine planning and mine ore preparation, it said. 

Process plant upgrades are earmarked to start in September with concentrate production remaining on track for the first quarter of 2016.

The firm has said initial production at this part of the  project will target 1,300 tonnes per annum (tpa) of 66%tungsten trioxide concentrate.

The second phase will see the fast track mine scaled up to to 2,600 tpa at an additional cost of US6mln, while in phase three, the final Full Mine (FM) willl expanding the capacity to 5,000 tpa.

W's chairman Michael Masterman told investors: "The first mine blast at La Parrilla is a significant event for W Resources and kicks off the commencement of hard rock mining operations. 

"The explosive blast was completed successfully with the highest level of safety and supervision."

The firm noted that 20 holes on the south and north extensions of the pit have been completed and preparation for assays is now underway at new La Parrilla lab facilities. 

"Preparation for blasting with RC drilling and blast hole drilling has reconfirmed our high level of confidence with regard to a large lateral extension of the La Parrilla ore body to the South at potentially higher grades, based on site analysis with an XRF."

Northland rates shares a 'buy' with a target of 1p.

Shares gained almost 11% to stand at 0.405p.

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