QUOTE: WRES (AIM)
GBX 0.46 (-8.00%)
Gold
100% W Resources, acquired 2012
Exploration Licence
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.
Results from the drilling campaign in 2017 provided very promising results with a thick intersection of over 55m of gold at 2.34g/t. These results provide a solid base to drive extension drilling with the potential for a materially larger resource.
In Q2 2018, the Portuguese technical team commenced a 15 hole, 2,000m RC drilling programme with a view to materially increase the JORC resource.
The overall results of the RC drilling campaign will form part of the update for the upgrade to the JORC compliant mineral resource estimate which will be updated once the evaluation work has been completed.
| Category | Tonnage (Mt) | Au (g/t) | Au Content (Oz) | Cut-off (g/t Au) |
|---|---|---|---|---|
| Total | 3.04 | 1.04 | 111,987 | 0.5 |
| Inferred | 2.56 | 1.05 | 94,624 | 0.5 |
| Indicated | 0.48 | 1.03 | 17,363 | 0.5 |
