WPG shares soar

WPG Resources has crowed about some spectacular gold intersections from infill grade control drilling within its Tarcoola project, South Australia, with investors impressed and the company’s shares rising more than 120% in morning trade.

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The news that Tarcoola may offer both improved tonnage and grade over the next few months saw WPG’s market capitalisation jump to more than A$32 million as shares rose from 1.6c to 3.6c.

The drilling been focused on areas at the Perseverance pit that will be mined between February and June.

Among the “spectacular” results were 11m at 73.31 grams per tonne from 11m including 1m at 607.75gpt from 17m); 19m at 26.74gpt from 4m, and 5m at 53.59gpt from 18m.

Drilling is ongoing and to date assays have been received for 112 holes, confirming scheduled increases in grade and ounce profiles for the rest of 2017-18. 

While WPG said the bulk of the holes had lower values but still encountered economic intersections, validating the integrity of the resource.

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