W Resources Plc (AIM:WRES), the tungsten, copper and gold exploration and development company with assets in Spain and Portugal, is pleased to announce its Maiden Ore Reserves for the La Parrilla mine in Spain, prepared in accordance with the JORC Code 2012.
As quoted in the press release:
Michael Masterman, Chairman of W commented: “La Parrilla is a large, low cost, long life tungsten and tin mine with a mine life of over 11 years and a cost structure at the bottom of the world cost curve. It is a pleasure to report our Maiden Reserves of 29.7 mt of ore. The team is focused on commencing mining which will deliver high grades of tungsten ore averaging 1,220 ppm WO3 to the La Parrilla plant in the important early years of the mine development. These higher grades boost our production and cash flows and are part of a highly economic mine development.
“The resource and mine model review has highlighted the opportunity to further increase resources and reserves and lower mine strip ratios by targeted drilling of outcropping vein packages currently characterised as inferred in the resource models with an objective of converting these resources to indicated and measured.”