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W Resources keen on CAA/Portalegre farm-out after drilling confirms gold indications

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Five holes were drilled over 1,058 metres with 16m of gold at 1.37 g/t between 124m and 140m in the fifth hole the best intersection.

W Resources (LON:WRES) will seek a partner to develop the CAA/Portalegre prospect in Portugal after scout drilling backed up surface indications of gold. 

Five holes were drilled over 1,058 metres with 16m of gold at 1.37 g/t between 124m and 140m in the fifth hole the best intersection.

Hole four also contained notable gold traces and Michael Masterman, W Resources chairman, said: “There appears to be continuity between the trenching gold assay results in 2014, Hole CAAD-04 and Hole CAAD-05 pointing to extensions at depth and to the South East. “

The priority now is for CAA to be developed into a discovery and to do this finding a partner would be logical, he added.

“With such good progress at our fast track tungsten projects, it would be a strategic advantage to farm-out the gold and base metals project to the right partner and this next stage will be progressed in the coming months."

The three other holes in the programme returned low grade zinc and silver mineralisation.

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Price: 0.37 GBX

AIM:WRES
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