GCIW Resources kick-starts trial operations at Régua
The tungsten, tin and gold mining company told investors on Wednesday that the JORC estimate had confirmed 4.47mn tonnes grading 0.27% tungsten trioxide, or WO3.
Initial mining will focus on the higher-grade areas of the orebody, meaning the valuable mineral that can be extracted, which is close to the surface, the statement explained.
Mining operations will commence in February with development drives in place to enable the group to obtain to the ore zones.
The development of the Régua trial mine process plant is being delivered on a ‘lean' capital basis, W explained, with a total cost estimate of €1.5m.
Shares in W Resources were trading 4.92% higher at 0.32p during Wednesday trading.
The statement outlined that during the initial trial mine operation, high-grade Régua ore will be processed to produce 8-12% tungsten trioxide concentrate to be trucked to the La Parrilla processing plant for upgrade to 60% tungsten trioxide concentrate and purification.
Régua will be the W’s second mine to come on stream following in the footsteps of the group’s La Parrilla site which commenced production during the end of 2019.
“We see significant synergies between La Parrilla and Régua with materially lower capital costs at the Régua plant site and increased La Parrilla final concentrate production,” said Michael Masterman, Chairman of W Resources.
He added: “The development will have a positive environmental contribution with the progressive rehabilitation of an existing quarry and will create jobs in the northern region of Portugal.”
Meanwhile, La Parilla continues to increase production in 2020 with boosted production rates being “rapidly implemented” and due for completion in Feburary, the company noted.
The company said that it had transitioned to full quarterly production reporting and would provide a full update in April 2020 following the close of the March quarter.
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