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- Rafaella Resources (RFR) posts the final assay results from its resource drilling campaign at the Santa Comba Tungsten and Tin Project in Spain
- Latest results hit the highest tungsten grade of disseminated ore ever drilled at Santa Comba
- All results from the campaign have been forwarded to Wardell Armstrong to update the Mineral Resource Estimate (MRE)
- Once the MRE has been revised an updated, the company plans to generate new mine schedules as part of an updated feasibility study in the third quarter
- Shares are trading flat at 10 cents apiece at 10:08 am AEST
Rafaella Resources has received the final assay results from its resource drilling campaign at the Santa Comba Tungsten and Tin Project in Spain.
The drilling campaign was completed at the end of April, with 37 diamond drill holes totalling over 5800 metres.
Previous results released in April, indicated tungsten grade and thickness-of-ore zones were increasing at depth and subsequently, a drillhole was designed to undercut the east and central ore zones.
RFR said that particular drillhole intersected the highest tungsten grade of disseminated ore ever drilled at Santa Comba, with 6.38 per cent tungsten trioxide over 1.5 metres within a zone of 42.4 metres at 0.37 per cent.
All results have now been validated and forwarded to environmental, engineering and mining consultancy Wardell Armstrong, to update the Mineral Resource Estimate (MRE), which is expected to be released within a month.
The company said the drilling campaign has strengthened the geological conceptual model and shows the deposit remains open at depth, to the south and east.
Further, Managing Director Steven Turner said the results confirm there is potential to expand the project.
With an updated and revised MRE, Mr Turner also said new mine schedules will be generated as part of an updated feasibility study in quarter three.
This is in line with the objectives of the drilling campaign to increase the scale of the project and extend the mine life by expanding the current near-surface resources with step-out drilling and then in-fill drilling as well as confirming high-grade mineralisation amenable for underground mining.
Shares were trading flat at 10 cents apiece at 10:08 am AEST.
