W Resources obtains extension over Tarouca project in Portugal
UK-based exploration and development company W Resources has secured a two-year extension for its licence of the Tarouca project in Portugal.
Approval for the extension was granted by the Portuguese Secretary of State for Energy under the Ministry for the Economy and will expire on 23 March 2019.
The company intends to use the extension to undertake a 15 hole/1,500m reverse circulation drilling campaign in order to consolidate previously completed exploration programmes.
W Resources chairman Michael Masterman said: "Whilst the development focus is on La Parrilla in Spain and Régua in Portugal, the drilling campaign at Tarouca will help us to further delineate the resource with a view to increasing our overall tungsten resource and production base.
"Tarouca is 20km from Re´gua and has the potential to enhance and expand the Re´gua development."
Based on trench sampling conducted at the Tarouca project in 2015, the potential for high-grade tungsten was identified with 15 out of 126 samples exceeding 0.5% WO3, including 0.8m at 11.4% WO3 (TTR063).
The company owns the project through its wholly owned subsidiary Iberian Resources Portugal (IRP). It noted that the sampling, along with the 15 holes drilled in 2014, determines an exploration target in the licence's north-eastern area.
Covering 48km², the Tarouca exploration licence includes the former Tarouca mines and numerous tungsten and tin deposits.
Located 400km north of Lisbon and 140km east of Porto, the project was acquired by W Resources in 2012.