W Resources PLC (LON:WRES) has revealed that initial assays results from the reverse circulation (RC) drilling campaign at its São Martinho gold project in Portugal has shown thick gold intersections and high grades.
The AIM-listed tungsten, copper and gold exploration and development company with assets in Spain and Portugal said highlights from the first seven holes of the 15-hole campaign are a 25-metre intersection of gold at 0.85 grams per tonne (g/t), with 11 metres including 3.35 g/t of gold over 3 metres.
The group added that it has now completed 2,000 metres of drilling and the results are being evaluated and the full results will be reported once complete.
It said the objective of the RC drilling is to extend the current resources outlined, integrating the data from the 2016 diamond drilling results with the expansion from this campaign.
W Resources pointed out that maiden JORC resource on São Martinho was completed by Golder Associates in June 2016 which confirmed an Indicated Resource estimate of 3Mt at 1.04g/t gold, which equates to 111,987ounces in contained gold.
Michael Masterman, W Resources’ chairman commented: "As we progress development work in Portugal, we are pleased to continue to get strong gold intersections from the drilling programme which is helping better delineate to deposit.”