W Resources PLC Update on La Parrilla and on Portuguese assets (1358T)
18 March 2019 - 6:01PM
UK Regulatory
TIDMWRES
RNS Number : 1358T
W Resources PLC
18 March 2019
18 March 2019
W Resources Plc
("W" or the "Company")
La Parrilla Mine Development on Track
Portugal Update
W Resources Plc (AIM:WRES), the tungsten, copper and gold mining
company with assets in Spain and Portugal, is pleased to provide an
update on development progress at La Parrilla, its flagship
tungsten-tin project in Spain and on progress at Régua, Tarouca
(both tungsten) and São Martinho (gold) in Portugal.
At La Parrilla in South Western Spain, the jig and mill are on
track for mechanical completion later this month. The majority of
steel and equipment has now been installed with electrical and
instrumentation installation underway
(https://wresources.com/projects/la-parrilla/). Outside the main
plant two additional bins will be delivered and installed in April.
Commissioning is expected to commence in early April with first
crusher ore feed into the plant in April.
The majority of the equipment for the new large-scale
concentrator is now on site and after an initial delay in steel
deliveries to prime contractor allmineral Aufbereitungstechnik GmbH
& Co. KG ("allmineral") of Germany, installation commenced this
week (https://youtu.be/s6o761UzrHI). With steel deliveries
underway, W expects to be able to accelerate construction of the
concentrator over the next two months.
The fully automated 350 tonnes per hour crushing circuit is
fully commissioned and operational. It can be run with one operator
and has run smoothly at full capacity.
Initial water supply systems and the full Aggreko LNG power
plant are in place and operational. Iberdrola, the Spanish utility
company, is on schedule to upgrade grid power supply to 1.5MW in Q2
2019. Other core non-plant infrastructure, including all buildings,
is now complete.
Mine development is advanced. The fast track mine area,
including the high-grade outcrops, has been cleared for initial
mine operations and the ramp from the mine to the ROM pad nearing
completion. Current mining operations are with the tailings
contractor, and a full four-year mining contract has been tendered
and will be formally awarded this quarter.
At Régua in Portugal, development work continues to progress
well. Infill drilling of the mine entry portals is now complete and
database completion is underway for a review of the resource. Road
construction, mining contractor and contract crushing contract
negotiation is advanced and is expected to be finalised in Q3
2019.
At the São Martinho gold deposit in Portugal, SRK Consulting
(UK) Ltd ("SRK") is progressing well with the updated gold resource
estimate, which is expected to be finalised in Q2 2019. W Resources
has applied for a trial mine licence in order to commence initial
mining and production and this will be progressed through the
Portuguese regulatory programme.
At Tarouca, following the successful exploration extension
drilling we have applied for a new exploration license
(Tarouca-Mões) covering the studied sector and prospective ground
to the south.
Michael Masterman, Chairman of W Resources, commented: "It has
been an intense first quarter at La Parrilla with plant and
infrastructure construction completion and production ramp-up
running at a fast pace. Completion and commissioning of the jig in
April will give us the operational capability to expand tungsten
and tin production as part of the second stage of plant ramp-up.
It's great to see concentrator steel deliveries and installation
commence following an initial delay by contractor allmineral. We
expect to hit critical mass installing the large concentrator in Q2
2019, which will be sequenced well with the production ramp-up
programme.
"Gold, tungsten and tin projects in Portugal are also advancing
quickly and we expect to be able to report updated Régua drilling
results and development activity and SRK resource estimates for the
São Martinho gold discovery in Q2 2019."
The information communicated within this announcement is deemed
to constitute inside information as stipulated under the Market
Abuse Regulations (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
Enquiries:
W Resources Plc Grant Thornton UK LLP
Michael Masterman Colin Aaronson / Jen Clarke
/ Seamus Fricker
T: +44 (0) 20 7193 7463 T: +44 (0) 20 7383 5100
www.wresources.com
Turner Pope Investments (TPI) Ltd Gable Communications
Andy Thacker Justine James
T: +44 (0) 203 621 4120 T: +44 (0) 20 7193 7463
www.turnerpope.com M: +44 (0) 7525 324431
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END
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