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W Resources begins drilling Tarouca

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W Resources (LON:WRES) has started drilling the high-grade Tarouca project in Portugal, which covers former tungsten and tin mines.

The AIM-listed company said the first hole intersected tungsten mineralisation at 15 metres and W expects strong results from the 1,500-metre drill programme, which will be completed over the next four months.

It follows “exceptional” trenching and sampling results from the project, revealed in October.

Grab samples showed grades of 2.5%, 5.8%, and 9.4% tungsten trioxide, while trenches returned 7.2 metres of 0.86% tungsten trioxide, including 6 metres at 1.02%.

W said 7.6% of the 250 samples assayed showed in excess of 0.3% WO3.

Chairman Michael Masterman: “The drilling campaign at Tarouca will support the exceptional trenching results announced in 2013 and the assay results will be released in due course.”

The licence was awarded in 2012 and consists of the former Tarouca tungsten mines and several other tungsten and or tin deposits covering an area of 48 square kilometres, 400km north of Lisbon.


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Price: 0.31249 GBX

AIM:WRES
Market: AIM
Market Cap: £19.93 m
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