W Resources reveals thick gold intersections from São Martinho assays

AIM-listed exploration and development company W Resources has revealed the results of initial assays from its reverse circulation drilling campaign in Portugal.

Highlights from the first seven of W's 15-hole drilling campaign included a 25m intersection at 0.85 grams of gold per tonne from 11m, including over three metres of 3.35 grams of gold per tonne.

W has now completed 2,000 metres of drilling and has begun to evaluate the results.

The objective of W's campaign was to extend the current resources outlined, integrate the data from its 2016 diamond drilling results with the expansion expected from the reverse circulation campaign.

A maiden JORC resource on São Martinho was completed by Golder Associates in June 2016 which confirmed an indicated resource estimate of 3m tonnes of 1.04 grams of gold per tonne, which equates to 111,987 ounces in contained gold.

Michael Masterman, chairman of W Resources, said, "As we progress development work in Portugal, we are pleased to continue to get strong gold intersections from the drilling programme which is helping better delineate to deposit. The full results will be announced once the evaluation work has been completed."

As of 0920 BST, W shares had gained 5.48% to 0.44p.