www.herenciaresources.com
Herencia Resources plc is a resources company listed on the Alternative Investment Market (‘AIM’) of the London Stock Exchange with a focus on developing the Paguanta Project in northern Chile and advancing other project opportunities with the aim of adding value for shareholders.
The Paguanta Project comprises the Patricia zinc-silver-lead-gold Mineral Resource and the Doris copper-silver and La Rosa copper targets. The Total Mineral Resource at Patricia stands at 3.5Mt at 4.6%Zn, 1.46%Pb, 93g/t Ag and 0.23g/t Au (2% Zn cut-off).
During 2011 Herencia plans to undertake a Feasibility Study into the Patricia Mineral Resource and complete 15,000m of diamond drilling at Patricia, Doris and La Rosa. The Company is also actively pursuing quality JV opportunities within South America.
Herencia has the backing of some major resources identities including Nyrstar, the world’s biggest zinc smelting group, who hold 10% equity in Herencia.
Herencia reports high-grade copper & silver samples from Paguanta’s Doris prospect
Herencia Resources (LON:HER) has reported high-grade copper and silver assay results from surface sampling on the Doris prospect at the Paguanta project in northern Chile. The best grades from the sampling came in at 4.5% for copper, and the best silver assay was 573 grams per tonne (g/t) silver.
"These are excellent results,” Herencia MD Michael Bohm commented.
“With drilling finishing-up successfully at Paguanta, we turned our geology teams attention to the 'Doris' prospect ... Whilst it is early days for 'Doris', these initial high grade copper and silver results are very encouraging.”
The Doris prospect is located about 1,500 metres northeast of Paguanta’s main zinc-lead-silver-gold mineral resource - the Patricia resource – and another 1,500 metres southeast of the 'La Rosa' porphyry-copper target.
“The Paguanta project is located right in the middle of the world's greatest copper belt,” Bohm added.
“We have already confirmed an existing, and open ended, zinc-lead-silver-gold mineral resource at Paguanta and we have now confirmed nearby high grade copper and silver grades at surface, all located within the same granted mining leases”.
Herencia said it will review the results and plans an additional work programme.
“In addition to progressing toward potential development of a zinc-silver-lead-gold mine within the next 2.5 years at Paguanta, it remains our firm belief that the Paguanta project area has substantially more to offer," Bohm concluded.
The Paguanta zinc-silver-lead-gold project Northern Chile is the company’s primary focus. Earlier this month, on 2 August, Herencia told investors that its latest drilling programme had uncovered a high grade extension to the Cathedral vein at Paguanta.
The company is on track to deliver a mineral resource estimate in September and a decision to go to full feasibility study will be made in October or November.
