EQ Resources announces ore reserves update

EQ Resources (ASX:EQR) has released an updated announcement concerning the Ore Reserves at its Barruecopardo Mine in Spain. The update meets ASX Listing Rules and JORC 2012 standards. It outlines a new drilling phase in 2025 aimed at upgrading current resources and reserves.

Comprehensive summary of EQR's strategic plans

EQ Resources Ltd (EQR) has announced an update to the Ore Reserves at its Barruecopardo Mine in Spain, aligning with ASX and JORC 2012 standards. With reserves of 10.5 million tonnes at 0.16% WO3, the company forecasts a mine life of at least seven years. A new drilling phase in 2025 aims to upgrade a significant portion of the current resources to reserves. EQR is focused on increasing throughput and optimizing processes to maintain its position as a leading tungsten supplier. The company is dedicated to extending the mine's life through strategic drilling and resource conversion, alongside improvements in recovery and efficiency. This underscores EQR's ambition to sustain and expand its tungsten operations while supporting the local economy and meeting environmental compliance.

Executive commentary on Barruecopardo Mine update

EQ Resources is committed to maintaining its leadership in the tungsten market. This update is a testament to our strategic focus on expanding our operations while ensuring compliance with international standards.