CAA / Portalegre

With a project life of 6.5 years, CAA / Portalegre includes the São Martinho Gold Deposit, the Mosteiros gold project and the Assumar gold prospect

Commodity

Gold

Ownership

100% W Resources, acquired 2012

Mine Type

Exploration Licence

Project Background

CAA / Portalegre covers a total of 289.75km², and includes the São Martinho Gold Deposit, the Mosteiros gold project and the Assumar gold prospect.

The focus has been on the São Martinho Gold Deposit where a maiden Australasian Joint Ore Reserves Committee (“JORC”) resource was completed by Golder Associates in June 2016 which confirmed an Indicated Resource estimate of 3Mt at 1.04g/t gold, which equates to 111,987oz in contained gold.

Development and Key Milestones

W has advanced São Martinho through a successful drilling programme and submitted an application for a trial mine and gold production licence in September 2018.

The trial mine licence, once granted, will allow W to pursue a 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 partially arisen due to the combination of structural complexity and multistage mineralising events.

Importantly, a trial mine is a key level of licence tenure and will provide the authority to mine shallow ore and produce gold on a pilot basis. We will actively explore opportunities to bring in Joint Venture parties and monetise the gold discovery in 2020. New expenditure on this project is pending grant of the trial mining licence.

Location

Municipalities of Alter do Chão, Arronches, Crato, Fronteira, Monforte and Portalegre in the North Alentejo region of East Portugal approximately 200km East of Lisbon
caa-map
Régua location map

Reserves & Resources

CategoryTonnage
(Mt)
Au
(g/t)
Au Content
(Oz)
Cut-off
(g/t Au)
Inferred2.561.0594,6240.5
Indicated0.481.0317,3630.5
Total3.041.04111,9870.5

Financial & Technical

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