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W Resources Plc

W Resources on track for concentrate production in October

W Resources (LON:WRES), the tungsten, tin and gold mining company with assets in Spain and Portugal, today announced its half year results for the six months ended 30 June 2019.

Chairman of W, Michael Masterman commented: “We are delighted to have completed the build of the T2 expansion at La Parrilla, which is a world class tungsten project. This project was delivered on budget and the Crusher Plant and non-plant infrastructure was completed on schedule with the Jig and Mill Plant and Concentrator Plant a quarter behind schedule, unfortunately delaying commissioning and ramp-up. With the Concentrator Plant complete we can now move to large scale production at La Parrilla    Commissioning and ramp up is proceeding with the spirals and concentrator thickener commissioned and critical automated control systems loaded. We are on track for concentrate production in October.

“Régua in Portugal is advancing and will follow closely behind the development of La Parrilla. Exploration success at Tarouca will feed into and further enhance Régua hub development economics.

“The team with the strong support of the Board is executing development well and this is a credit to the calibre of the management team.”

HIGHLIGHTS

La Parrilla, Tungsten and Tin, Spain

·     Completed construction of the La Parrilla mine and tungsten and tin processing plant with associated non-plant power, water, tailings dam, warehouse and office facilities.

·     Completed construction and commissioning to design capacity of the Metso 350 tonne per hour Crusher Plant.

·       Completed construction of the Jig and Mill Plant and commenced commissioning in April 2019.

·       Mine, Crusher Plant and Jig and Mill Plant commissioned to underpin the ramp-up of the concentrator plant, which is currently undergoing commissioning, to target tungsten and tin concentrate production levels.

·     Construction of the T2 phase at the La Parrilla mine completed, which has been delivered within budget, including contingency.

Régua and Tarouca, Tungsten, Portugal

·     Completed over 2.73km of drilling, comprised of 916 metres (“m”) of diamond core drilling and 1,809m of reverse circulation drilling.

·     Results confirmed thick higher-grade zones closer to the planned mine portals chosen for initial mining operations including 29m at 0.75% WO3 from hole RGR015 and 6m at 0.43% WO3 from hole RGR020.

·        Signed contract for ore haulage and crushing with Francisco Pereira Marinho Imãos SA (“FPMI”).

·        Commenced engineering and procurement for construction of Régua processing plant.

São Martinho, Gold, Portugal

·      Planned drilling programme to expand the resource and resolve the geological interpretations of a flat lying structure (Golder) and a deeply dipping structure (SRK) which have partly arisen due to the combination of structural complexity and multistage mineralising events.

·    Application for a trial mine and gold production licence is advancing which will increase the size of the resource, resolve conflicting geological interpretations, and allow gold production on a pilot basis.