W Resources PLC La Parrilla FTM Development Update (5387A)
September 29 2015 - 6:01AM
UK Regulatory
TIDMWRES
RNS Number : 5387A
W Resources PLC
29 September 2015
29 September 2015
W Resources Plc
("W" or the "Company")
La Parrilla FTM Development Update
W Resources Plc (AIM:WRES), the tungsten, copper and gold
mining, exploration, development and production company with assets
located in Spain and Portugal, is pleased to provide an update on
development work at its La Parrilla Fast Track Mine (FTM) located
in Spain.
Strong progress has been made on the La Parrilla FTM and
highlights include:
-- Completion of 1,302 metres of diamond core drilling and 1,594
metres of grade control reverse circulation drilling in the FTM
mining area
-- Completion of the first phase of extensive metallurgical
pilot testing and equipment testing
-- Results to date indicate:
- Potential to reduce both capital and operating expenditures
- Potential for a 200% upgrade in WO(3) content before the final
concentration stages, which makes the product from La Parrilla
comparable to some of the highest grade tungsten deposits
globally
-- Commencement of initial engineering tie in design
Assay preparation for the 2,900 metre infill and grade control
programme is underway and logging results are positive. Assay
results will be progressively reported in Q4 2015 and the upgraded
JORC compliant mineral resource estimate is on track for issue in
the next three to four months. Core and RC chip logging and
analysis confirms the coarse grain "nuggetty" characteristics of
the La Parrilla mineralisation, which supports low cost processing
expectations.
Bulk sampling for the metallurgical programme from within the
initial mining blocks has delivered grades of 0.251% for the
initial 6 tonne sample. These grades are significantly higher than
the design run of mine feed for the La Parrilla FTM development.
The work is being conducted in leading test facilities in both
Germany and Australia in order to ensure timely procurement of key
long lead equipment.
Initial results from the metallurgical pilot programme continue
to highlight the coarse grained nature of the ore and ease of
separation at coarse sizes. In line with other global tungsten
operations, pilot X-Ray ore sorting trials confirm 20% of the run
of mine feed can be rejected at 25mm whilst recovering greater than
96% of the WO(3) . Pilot scale jig testing has confirmed 50% of the
mass can be rejected during pre-concentration at 10mm whilst
recovering more than 85% of the tungsten. This presents significant
upside potential through reduction of both capital and operating
expenditures by rejecting 60% of the run of mine feed prior to fine
grinding. This provides nearly a 200% upgrade in WO(3) content
before final concentration stages, which makes La Parrilla project
comparable in the high grade of feed to the concentrator to some of
the best global tungsten projects.
In parallel to evaluating the base case process flowsheet,
testing is underway to simplify the flowsheet even further. The
natural brittleness (as distinct from the host rock) of scheelite
presents a waste rejection opportunity, which can be efficiently
exploited during processing. Further simplification of the
flotation and electrostatic stages is also being investigated.
These programmes aim to significantly reduce the capital and
operating costs of the La Parrilla Project. The metallurgical
programme is on track for completion in Q4 2015 and results will be
reported shortly thereafter. Initial engineering at the La Parrilla
site has commenced to define the tie-in strategy and the mechanical
upgrades required to accommodate the key equipment to be added to
the existing La Parrilla concentrator plant.
Commenting on the development programme, Mr Michael Masterman,
Chairman of W Resources said: "La Parrilla continues to build
momentum on the technical, approval and finance fronts. We expect
strong results from both the drilling and metallurgical programmes,
and project economics, which should allow us to deliver a low
operational cost project. Final mining authorisation is on track
for Q4 2015 and the priority of the team is on financing and
development preparation."
Enquiries:
W Resources Plc Grant Thornton UK LLP
Michael Masterman Colin Aaronson / Jen
T: +44 (0) 20 7193 7463 Clarke / Harrison Clarke
www.wresources.co.uk T: +44 (0) 20 7383 5100
SI Capital - Joint Broker Gable Communications
Andy Thacker / Nick Emerson Justine James
T: +44 (0) 1483 413500 T: +44 (0) 20 7193 7463
www.sicapital.co.uk M: +44 (0) 7525 324431
Northland Capital Partners
- Joint Broker
John Howes / Abigail Wayne
(Corporate Broking)
T: +44 (0) 20 7382 1100
www.northlandcp.co.uk
About La Parrilla
The La Parrilla project site is situated in the Extremadura
region of southwest Spain, in the Provinces of Caceres-Badajoz,
approximately 310 km southwest of Madrid. The site has exceptional
infrastructure in place, which is accessed directly from the
highway along a 3 km asphalt road and is serviced by electricity
and water. The project comprises a tungsten mine and a tungsten
tailings project. The mine resource estimated by Golder in June
2013 is 46.92 million tonnes at 0.09% WO(3) , making it one of the
largest tungsten deposits in the western world.
This information is provided by RNS
The company news service from the London Stock Exchange
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